1,859 Shares in Upstart Holdings, Inc. (NASDAQ:UPST) Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd acquired a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,859 shares of the company’s stock, valued at approximately $76,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in UPST. Vanguard Group Inc. increased its stake in Upstart by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,856,199 shares of the company’s stock valued at $195,676,000 after buying an additional 87,832 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Upstart by 37.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,250 shares of the company’s stock worth $2,262,000 after purchasing an additional 21,668 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Upstart by 5.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 11,805 shares of the company’s stock worth $482,000 after purchasing an additional 619 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Upstart by 1.1% during the 3rd quarter. Northern Trust Corp now owns 718,745 shares of the company’s stock worth $20,513,000 after acquiring an additional 8,091 shares during the period. Finally, Trexquant Investment LP bought a new stake in shares of Upstart during the 3rd quarter worth approximately $1,529,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Upstart

In other news, CTO Paul Gu sold 60,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $26.31, for a total transaction of $1,578,600.00. Following the completion of the sale, the chief technology officer now directly owns 893,596 shares in the company, valued at $23,510,510.76. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Upstart news, CTO Paul Gu sold 60,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $26.31, for a total value of $1,578,600.00. Following the completion of the sale, the chief technology officer now directly owns 893,596 shares in the company, valued at $23,510,510.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $32.62, for a total transaction of $32,620.00. Following the completion of the sale, the chief financial officer now owns 356,090 shares of the company’s stock, valued at $11,615,655.80. The disclosure for this sale can be found here. Insiders sold a total of 68,717 shares of company stock worth $1,828,815 over the last three months. 18.06% of the stock is owned by company insiders.

Analyst Ratings Changes

UPST has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Upstart in a report on Wednesday, April 17th. JPMorgan Chase & Co. cut their price target on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Wednesday, February 14th. Piper Sandler reaffirmed a “neutral” rating and set a $28.00 price target on shares of Upstart in a report on Tuesday, March 19th. Bank of America began coverage on shares of Upstart in a research note on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price objective for the company. Finally, Mizuho increased their price objective on shares of Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a research note on Thursday, January 18th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $26.00.

Upstart Stock Performance

Shares of NASDAQ UPST opened at $22.83 on Friday. Upstart Holdings, Inc. has a 52-week low of $11.93 and a 52-week high of $72.58. The firm has a 50 day moving average price of $25.00 and a two-hundred day moving average price of $29.41. The stock has a market cap of $2.00 billion, a P/E ratio of -7.87 and a beta of 1.94.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.05. Upstart had a negative net margin of 46.76% and a negative return on equity of 35.47%. The firm had revenue of $140.31 million during the quarter, compared to analysts’ expectations of $135.28 million. Analysts predict that Upstart Holdings, Inc. will post -2.19 earnings per share 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.