Renaissance Technologies LLC Has $84.96 Million Stock Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Renaissance Technologies LLC raised its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 28.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,379,900 shares of the company's stock after purchasing an additional 308,200 shares during the quarter. Renaissance Technologies LLC owned 1.51% of Upstart worth $84,960,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Blair William & Co. IL bought a new stake in shares of Upstart in the fourth quarter worth $222,000. Union Bancaire Privee UBP SA acquired a new position in Upstart during the 4th quarter worth $2,057,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Upstart in the 3rd quarter worth about $430,000. Geode Capital Management LLC raised its stake in shares of Upstart by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company's stock valued at $72,702,000 after purchasing an additional 29,482 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in Upstart in the fourth quarter worth about $271,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Upstart Trading Up 0.1 %

UPST stock traded up $0.03 during trading on Monday, hitting $39.02. The company had a trading volume of 2,137,536 shares, compared to its average volume of 6,537,453. The business has a 50 day moving average of $57.21 and a 200 day moving average of $60.52. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of -26.73 and a beta of 2.39. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43.

Upstart (NASDAQ:UPST - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. As a group, equities analysts predict that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Analyst Ratings Changes

UPST has been the topic of several research reports. Barclays upped their price objective on Upstart from $80.00 to $93.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 18th. Needham & Company LLC raised their price objective on Upstart from $100.00 to $108.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Citigroup boosted their target price on shares of Upstart from $87.00 to $108.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. upgraded shares of Upstart from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $57.00 to $79.00 in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group lifted their price target on shares of Upstart from $13.50 to $15.00 and gave the company a "sell" rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Upstart presently has an average rating of "Hold" and a consensus target price of $73.38.

Insider Buying and Selling at Upstart

In related news, CEO Dave Girouard sold 41,667 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the completion of the transaction, the chief executive officer now owns 57,138 shares of the company's stock, valued at $3,576,838.80. This trade represents a 42.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sanjay Datta sold 16,070 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the completion of the sale, the chief financial officer now owns 295,537 shares in the company, valued at approximately $23,353,333.74. This trade represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,062 shares of company stock valued at $5,247,182. 18.06% of the stock is owned by corporate insiders.

Upstart Profile

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar loans that connects consumer demand for loans to its to bank and credit unions.