Upstart Holdings, Inc. $UPST Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC decreased its holdings in Upstart Holdings, Inc. (NASDAQ:UPST) by 10.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,006,130 shares of the company’s stock after selling 121,438 shares during the quarter. Fred Alger Management LLC’s holdings in Upstart were worth $43,998,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC purchased a new position in Upstart during the 3rd quarter worth approximately $25,000. Bayforest Capital Ltd purchased a new position in Upstart during the 4th quarter worth approximately $25,000. Quarry LP grew its position in Upstart by 749.2% during the 3rd quarter. Quarry LP now owns 501 shares of the company’s stock worth $25,000 after purchasing an additional 442 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Upstart by 132.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 771 shares of the company’s stock worth $39,000 after purchasing an additional 439 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in Upstart during the 4th quarter worth approximately $40,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Upstart Stock Down 0.4%

Upstart stock opened at $32.24 on Wednesday. The company’s fifty day simple moving average is $30.56 and its 200-day simple moving average is $35.46. Upstart Holdings, Inc. has a 12 month low of $23.97 and a 12 month high of $87.30. The stock has a market cap of $3.09 billion, a P/E ratio of 84.84, a P/E/G ratio of 0.85 and a beta of 2.26.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.46). Upstart had a net margin of 4.34% and a return on equity of 5.63%. The company had revenue of $308.21 million for the quarter, compared to analysts’ expectations of $301.30 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The company’s revenue was up 44.3% on a year-over-year basis. On average, equities research analysts expect that Upstart Holdings, Inc. will post 0.92 earnings per share for the current fiscal year.

Upstart announced that its board has initiated a stock repurchase plan on Thursday, February 19th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Upstart

In other news, insider Natalia Mirgorodskaya sold 974 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $28.99, for a total transaction of $28,236.26. Following the transaction, the insider directly owned 37,374 shares in the company, valued at $1,083,472.26. The trade was a 2.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sanjay Datta sold 15,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $30.41, for a total transaction of $456,150.00. Following the transaction, the insider owned 313,556 shares in the company, valued at approximately $9,535,237.96. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,346 shares of company stock worth $991,672 over the last 90 days. 17.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

UPST has been the topic of several research analyst reports. Mizuho set a $45.00 price objective on shares of Upstart in a research report on Friday, May 8th. Compass Point upgraded shares of Upstart from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $20.00 to $30.00 in a research report on Tuesday, February 17th. Weiss Ratings cut shares of Upstart from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Morgan Stanley set a $35.00 price objective on shares of Upstart in a research report on Thursday, May 7th. Finally, Truist Financial set a $40.00 price objective on shares of Upstart in a research report on Wednesday, May 6th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $44.73.

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.