Versor Investments LP Acquires New Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Versor Investments LP purchased a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,400 shares of the company's stock, valued at approximately $640,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its stake in Upstart by 125.3% in the 3rd quarter. Blue Trust Inc. now owns 989 shares of the company's stock worth $40,000 after acquiring an additional 550 shares during the period. US Bancorp DE increased its stake in Upstart by 10.2% in the third quarter. US Bancorp DE now owns 9,032 shares of the company's stock valued at $361,000 after purchasing an additional 835 shares during the last quarter. EMC Capital Management lifted its position in Upstart by 217.5% during the third quarter. EMC Capital Management now owns 20,000 shares of the company's stock worth $800,000 after buying an additional 13,700 shares during the period. QRG Capital Management Inc. acquired a new stake in Upstart in the 3rd quarter worth about $252,000. Finally, Olympiad Research LP acquired a new stake in Upstart in the 3rd quarter worth about $346,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UPST has been the topic of several research analyst reports. Bank of America raised their target price on shares of Upstart from $33.00 to $39.00 and gave the stock an "underperform" rating in a research report on Wednesday, February 12th. BTIG Research upgraded shares of Upstart from a "sell" rating to a "neutral" rating in a report on Monday, November 11th. Redburn Atlantic upgraded Upstart from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $37.00 to $95.00 in a report on Tuesday, December 3rd. Needham & Company LLC lifted their target price on Upstart from $100.00 to $108.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, Morgan Stanley raised Upstart from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $12.00 to $70.00 in a research report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $73.38.

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Upstart Price Performance

NASDAQ UPST traded down $0.93 on Tuesday, reaching $60.76. The company had a trading volume of 5,866,946 shares, compared to its average volume of 6,338,506. The firm has a 50-day moving average of $67.50 and a 200-day moving average of $58.85. Upstart Holdings, Inc. has a 1 year low of $20.60 and a 1 year high of $96.43. The firm has a market capitalization of $5.69 billion, a PE ratio of -42.04 and a beta of 2.25.

Upstart (NASDAQ:UPST - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate 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, sell-side analysts expect that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling at Upstart

In other news, CEO Dave Girouard sold 41,667 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total value of $2,608,354.20. Following the completion of the sale, the chief executive officer now owns 57,138 shares of the company's stock, valued at approximately $3,576,838.80. The trade was a 42.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sanjay Datta sold 16,070 shares of Upstart stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value of $1,269,851.40. Following the completion of the transaction, the chief financial officer now owns 295,537 shares of the company's stock, valued at $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. Insiders have sold a total of 79,081 shares of company stock valued at $5,548,607 in the last three months. Corporate insiders own 18.06% of the company's stock.

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.