Hillsdale Investment Management Inc. Buys Shares of 62,600 Upstart Holdings, Inc. (NASDAQ:UPST)

Hillsdale Investment Management Inc. bought a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) in the fourth quarter, HoldingsChannel reports. The firm bought 62,600 shares of the company’s stock, valued at approximately $3,854,000.

Several other institutional investors and hedge funds also recently modified their holdings of UPST. Natixis Advisors LLC purchased a new stake in Upstart in the 3rd quarter valued at approximately $654,000. Swiss National Bank lifted its position in shares of Upstart by 1.0% in the third quarter. Swiss National Bank now owns 145,900 shares of the company’s stock valued at $5,837,000 after acquiring an additional 1,400 shares in the last quarter. Quest Partners LLC increased its position in Upstart by 1,424.8% during the 3rd quarter. Quest Partners LLC now owns 1,723 shares of the company’s stock worth $69,000 after purchasing an additional 1,610 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Upstart in the 3rd quarter valued at about $47,000. Finally, Intech Investment Management LLC purchased a new position in Upstart in the 3rd quarter valued at about $939,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Upstart Stock Performance

NASDAQ UPST opened at $51.96 on Friday. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $96.43. The company’s 50 day moving average price is $64.09 and its 200 day moving average price is $59.72. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of -35.59 and a beta of 2.25.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, beating 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%. Sell-side analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on UPST shares. The Goldman Sachs Group boosted their price objective on shares of Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a research report on Wednesday, February 12th. Wedbush boosted their price target on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Barclays raised their price objective on Upstart from $80.00 to $93.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and upped their target price for the company from $57.00 to $79.00 in a research note on Wednesday, February 12th. Finally, Piper Sandler reissued an “overweight” rating and issued a $105.00 price target (up from $85.00) on shares of Upstart in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.38.

Insiders Place Their Bets

In other news, insider Natalia Mirgorodskaya sold 794 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $62,741.88. Following the completion of the transaction, the insider now directly owns 21,985 shares in the company, valued at approximately $1,737,254.70. This represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 in the company, valued at $4,157,032.14. This trade represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,062 shares of company stock worth $5,247,182 over the last quarter. 18.06% of the stock is owned by corporate insiders.

About Upstart

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.