Comerica Bank Acquires 19,046 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Comerica Bank raised its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 885.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,196 shares of the company’s stock after purchasing an additional 19,046 shares during the quarter. Comerica Bank’s holdings in Upstart were worth $1,305,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Voleon Capital Management LP bought a new stake in shares of Upstart during the fourth quarter worth $1,460,000. Schonfeld Strategic Advisors LLC increased its stake in shares of Upstart by 273.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 45,725 shares of the company’s stock valued at $2,815,000 after buying an additional 33,465 shares during the period. Northern Trust Corp increased its stake in shares of Upstart by 16.2% during the fourth quarter. Northern Trust Corp now owns 782,557 shares of the company’s stock valued at $48,182,000 after buying an additional 109,164 shares during the period. Oxford Asset Management LLP purchased a new position in shares of Upstart during the fourth quarter valued at $518,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Upstart during the fourth quarter valued at $4,320,000. 63.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Natalia Mirgorodskaya sold 794 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 $62,741.88. Following the completion of the sale, the insider now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sanjay Datta sold 16,070 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 295,537 shares in the company, valued at $23,353,333.74. This represents a 5.16% 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 Upgrades and Downgrades

UPST has been the topic of several research reports. The Goldman Sachs Group raised their price target on Upstart from $15.00 to $16.50 and gave the company a “sell” rating in a research note on Thursday. Citigroup lifted their target price on Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. 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. Bank of America upgraded Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a research note on Tuesday, April 29th. Finally, B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and lifted their target price for the company from $49.00 to $105.00 in a research note on Wednesday, February 12th. 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $63.42.

Upstart Stock Performance

Shares of UPST stock opened at $47.12 on Monday. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of -32.27 and a beta of 2.39. The stock’s 50-day simple moving average is $46.29 and its 200-day simple moving average is $60.41.

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. As a group, equities analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current 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.