Two Sigma Investments LP Grows Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Two Sigma Investments LP grew its holdings in Upstart Holdings, Inc. (NASDAQ:UPST) by 20.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,922,770 shares of the company’s stock after purchasing an additional 321,366 shares during the period. Two Sigma Investments LP owned about 2.11% of Upstart worth $118,385,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of UPST. Blair William & Co. IL purchased a new position in shares of Upstart during the fourth quarter valued at $222,000. Union Bancaire Privee UBP SA purchased a new position in shares of Upstart during the fourth quarter valued at $2,057,000. Vanguard Group Inc. increased its stake in shares of Upstart by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company’s stock valued at $479,843,000 after buying an additional 369,640 shares during the period. Merit Financial Group LLC purchased a new position in shares of Upstart during the fourth quarter valued at $271,000. Finally, Mandatum Life Insurance Co Ltd purchased a new position in shares of Upstart during the fourth quarter valued at $372,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insider Buying and Selling

In other Upstart news, CFO Sanjay Datta sold 16,070 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value of $1,269,851.40. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Natalia Mirgorodskaya sold 794 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,737,254.70. The trade was a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,395 shares of company stock valued at $2,638,828 over the last quarter. 16.67% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on UPST shares. Citigroup raised their price target on Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Barclays raised their price target on Upstart from $42.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Morgan Stanley cut their target price on Upstart from $70.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $57.00 to $79.00 in a research note on Wednesday, February 12th. Finally, Piper Sandler cut their target price on Upstart from $105.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.81.

Upstart Stock Up 1.5%

UPST stock opened at $48.08 on Monday. The firm has a 50 day moving average of $46.10 and a 200 day moving average of $60.41. The stock has a market capitalization of $4.57 billion, a PE ratio of -32.93 and a beta of 2.39. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $96.43.

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

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.