Jericho Capital Asset Management L.P. Raises Stock Position in Upstart Holdings, Inc. $UPST

Jericho Capital Asset Management L.P. grew its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 22.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,480,809 shares of the company’s stock after purchasing an additional 826,974 shares during the quarter. Upstart comprises about 2.4% of Jericho Capital Asset Management L.P.’s holdings, making the stock its 17th biggest holding. Jericho Capital Asset Management L.P. owned about 4.61% of Upstart worth $227,625,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Upstart by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,009,116 shares of the company’s stock valued at $129,965,000 after purchasing an additional 73,582 shares in the last quarter. Norges Bank bought a new position in Upstart in the second quarter worth about $67,777,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Upstart by 31.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 971,856 shares of the company’s stock worth $49,370,000 after buying an additional 232,595 shares during the period. Mane Global Capital Management LP purchased a new stake in Upstart in the second quarter worth about $43,576,000. Finally, Clear Street Group Inc. bought a new stake in Upstart during the 3rd quarter valued at approximately $29,018,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Upstart Stock Performance

Shares of NASDAQ UPST opened at $26.36 on Monday. Upstart Holdings, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $87.30. The company has a 50 day simple moving average of $37.28 and a two-hundred day simple moving average of $46.10. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 62.76, a P/E/G ratio of 0.68 and a beta of 2.44.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $296.09 million for the quarter, compared to analysts’ expectations of $288.54 million. Upstart had a return on equity of 6.30% and a net margin of 5.13%.The business’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 EPS. On average, analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Upstart announced that its board has authorized a share repurchase plan on Thursday, February 19th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

UPST has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Upstart in a report on Monday, December 29th. Zacks Research cut Upstart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. BTIG Research upgraded Upstart from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Monday. Truist Financial reduced their price target on Upstart from $59.00 to $49.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Finally, Citizens Jmp reiterated a “market underperform” rating and issued a $20.00 price objective on shares of Upstart in a report on Friday, February 13th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $47.77.

Insider Transactions at Upstart

In other Upstart news, CFO Sanjay Datta sold 7,982 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $29.86, for a total value of $238,342.52. Following the sale, the chief financial officer directly owned 276,688 shares of the company’s stock, valued at approximately $8,261,903.68. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 9,481 shares of company stock worth $282,201 in the last three months. 16.67% of the stock is currently owned by insiders.

Upstart Company Profile

Upstart Holdings, Inc operates a cloud-based lending marketplace that leverages artificial intelligence and machine learning to assess borrower creditworthiness. The company partners with banks and credit unions, providing its proprietary AI models and underwriting platform to facilitate consumer credit products. By focusing on non‐traditional data points—such as education, employment history and other real‐time indicators—Upstart seeks to improve approval rates and lower loss rates compared with conventional credit scoring methods.

Upstart’s core offering centers on unsecured personal loans, which borrowers can use for purposes such as debt consolidation, home improvements or major purchases.