Counterpoint Mutual Funds LLC Makes New $637,000 Investment in Upstart Holdings, Inc. (NASDAQ:UPST)

Counterpoint Mutual Funds LLC bought a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,339 shares of the company’s stock, valued at approximately $637,000.

A number of other hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC lifted its position in Upstart by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock worth $72,702,000 after buying an additional 29,482 shares in the last quarter. Fred Alger Management LLC raised its holdings in shares of Upstart by 153.2% during the third quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock worth $49,886,000 after acquiring an additional 754,416 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Upstart by 63.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after acquiring an additional 282,481 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Upstart by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 657,118 shares of the company’s stock valued at $40,459,000 after purchasing an additional 14,242 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in Upstart by 689.5% in the third quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock valued at $23,566,000 after purchasing an additional 514,400 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised 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 note on Wednesday, February 12th. Barclays raised their price objective on shares of Upstart from $80.00 to $93.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 18th. Citigroup increased their price target on shares of Upstart from $87.00 to $108.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Morgan Stanley upgraded shares of Upstart from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $12.00 to $70.00 in a report on Friday, February 14th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $105.00 price objective (up from $85.00) on shares of Upstart in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Upstart currently has a consensus rating of “Hold” and an average target price of $73.38.

Upstart Stock Up 4.8 %

UPST opened at $48.54 on Monday. The stock’s 50 day moving average price is $65.08 and its two-hundred day moving average price is $59.55. The firm has a market capitalization of $4.55 billion, a P/E ratio of -33.25 and a beta of 2.25. Upstart Holdings, Inc. has a 12-month low of $20.60 and a 12-month high of $96.43.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data 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, analysts anticipate that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, 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 transaction of $1,269,851.40. Following the sale, the chief financial officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dave Girouard sold 41,667 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 57,138 shares of the company’s stock, valued at approximately $3,576,838.80. This trade represents a 42.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,062 shares of company stock worth $5,247,182 in the last ninety days. 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.