Invesco Ltd. Increases Stock Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Invesco Ltd. grew its stake in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 886.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 709,684 shares of the company's stock after buying an additional 637,706 shares during the period. Invesco Ltd. owned 0.78% of Upstart worth $43,695,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. purchased a new position in Upstart during the 4th quarter worth approximately $31,000. Farther Finance Advisors LLC raised its holdings in shares of Upstart by 24.2% during the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company's stock worth $54,000 after purchasing an additional 172 shares during the last quarter. GAMMA Investing LLC lifted its position in Upstart by 19.9% during the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock valued at $83,000 after purchasing an additional 224 shares during the period. Blue Trust Inc. boosted its holdings in Upstart by 49.1% in the fourth quarter. Blue Trust Inc. now owns 1,475 shares of the company's stock valued at $91,000 after purchasing an additional 486 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Upstart in the fourth quarter valued at $96,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Upstart news, CFO Sanjay Datta sold 16,070 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were 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 directly owns 295,537 shares in the company, valued at $23,353,333.74. The trade was a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Paul Gu sold 12,007 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $948,793.14. Following the completion of the sale, the chief technology officer now directly owns 1,006,599 shares of the company's stock, valued at $79,541,452.98. The trade was a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,395 shares of company stock valued at $2,638,828 in the last quarter. 16.67% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

UPST has been the topic of several recent research reports. Morgan Stanley upgraded Upstart from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $12.00 to $70.00 in a research report on Friday, February 14th. Piper Sandler reissued an "overweight" rating and set a $105.00 price target (up from $85.00) on shares of Upstart in a report on Wednesday, February 12th. The Goldman Sachs Group lifted their price objective on shares of Upstart from $13.50 to $15.00 and gave the company a "sell" rating in a report on Wednesday, February 12th. Citigroup raised their target price on Upstart from $87.00 to $108.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, Needham & Company LLC lifted their price target on Upstart from $100.00 to $108.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $69.46.

Upstart Stock Performance

NASDAQ:UPST traded up $2.18 during trading hours on Tuesday, hitting $41.93. The company's stock had a trading volume of 5,205,464 shares, compared to its average volume of 6,560,405. The company has a market capitalization of $3.93 billion, a PE ratio of -28.72 and a beta of 2.39. Upstart Holdings, Inc. has a 52-week low of $20.60 and a 52-week high of $96.43. The business's 50-day moving average is $52.68 and its two-hundred day moving average is $60.42.

Upstart (NASDAQ:UPST - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, beating 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, analysts predict that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Upstart Company 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.