Two Sigma Advisers LP Purchases 1,120,300 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Two Sigma Advisers LP boosted its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 190.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,709,300 shares of the company’s stock after buying an additional 1,120,300 shares during the quarter. Two Sigma Advisers LP owned approximately 1.87% of Upstart worth $105,242,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in UPST. Marshall Wace LLP grew its position in Upstart by 300.2% during the fourth quarter. Marshall Wace LLP now owns 1,061,512 shares of the company’s stock valued at $65,357,000 after buying an additional 796,252 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in Upstart during the fourth quarter valued at about $43,697,000. Fred Alger Management LLC grew its position in Upstart by 53.6% during the fourth quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company’s stock valued at $117,914,000 after buying an additional 668,282 shares during the period. Invesco Ltd. grew its position in Upstart by 886.0% during the fourth quarter. Invesco Ltd. now owns 709,684 shares of the company’s stock valued at $43,695,000 after buying an additional 637,706 shares during the period. Finally, Man Group plc bought a new position in Upstart during the fourth quarter valued at about $36,464,000. Institutional investors own 63.01% of the company’s stock.

Insider Transactions at Upstart

In other news, CFO Sanjay Datta sold 16,070 shares of Upstart stock in a transaction 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 of the company’s stock, valued at approximately $23,353,333.74. The trade was a 5.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dave Girouard sold 4,524 shares of Upstart stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.01, for a total transaction of $357,441.24. Following the sale, the chief executive officer now directly owns 52,614 shares of the company’s stock, valued at $4,157,032.14. This represents a 7.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,395 shares of company stock valued at $2,638,828. 16.67% of the stock is currently owned by corporate insiders.

Upstart Trading Up 1.5%

Shares of Upstart stock opened at $48.08 on Monday. Upstart Holdings, Inc. has a 12-month low of $20.60 and a 12-month high of $96.43. The company has a market cap of $4.57 billion, a price-to-earnings ratio of -32.93 and a beta of 2.39. The company’s 50-day moving average price is $46.10 and its 200-day moving average price is $60.41.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.11. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. The firm had revenue of $213.37 million for the quarter, compared to the consensus estimate of $201.08 million. During the same period in the prior year, the firm posted ($0.31) earnings per share. The company’s revenue for the quarter was up 67.0% on a year-over-year basis. On average, sell-side analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup increased their price target on shares of Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and increased their price target for the company from $57.00 to $79.00 in a research report on Wednesday, February 12th. Needham & Company LLC reduced their price target on shares of Upstart from $108.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Morgan Stanley dropped their price objective on shares of Upstart from $70.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Finally, Piper Sandler dropped their price objective on shares of Upstart from $105.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.81.

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.