Symmetry Partners LLC Acquires Shares of 5,100 Upstart Holdings, Inc. (NASDAQ:UPST)

Symmetry Partners LLC purchased a new position in Upstart Holdings, Inc. (NASDAQ:UPST) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,100 shares of the company’s stock, valued at approximately $314,000.

Other hedge funds have also recently made changes to their positions in the company. Fred Alger Management LLC raised its holdings in Upstart by 153.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock worth $49,886,000 after acquiring an additional 754,416 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Upstart by 689.5% during the 3rd quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock valued at $23,566,000 after acquiring an additional 514,400 shares during the period. Tidal Investments LLC grew its position in shares of Upstart by 1,413.7% during the 3rd quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock valued at $13,342,000 after acquiring an additional 311,434 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Upstart by 63.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock valued at $29,031,000 after acquiring an additional 282,481 shares during the period. Finally, Wealthfront Advisers LLC bought a new position in Upstart in the 4th quarter worth $14,278,000. 63.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Morgan Stanley raised shares of Upstart from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $12.00 to $70.00 in a report on Friday, February 14th. Wedbush increased their price objective on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. The Goldman Sachs Group increased their price objective on shares of Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. Redburn Atlantic raised shares of Upstart from a “neutral” rating to a “buy” rating and increased their price objective for the company from $37.00 to $95.00 in a report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $57.00 to $79.00 in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Upstart currently has a consensus rating of “Hold” and a consensus target price of $73.38.

Insider Buying and Selling at Upstart

In other Upstart news, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total value of $2,608,354.20. Following the completion of the sale, the chief executive officer now directly owns 57,138 shares in the company, valued at $3,576,838.80. This trade represents a 42.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sanjay Datta sold 16,070 shares of the firm’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 transaction of $1,269,851.40. Following the completion of the sale, the chief financial officer now owns 295,537 shares of the company’s stock, valued at approximately $23,353,333.74. This trade represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,062 shares of company stock worth $5,247,182 over the last three months. Corporate insiders own 18.06% of the company’s stock.

Upstart Stock Performance

NASDAQ UPST opened at $51.00 on Thursday. The firm’s 50 day moving average price is $64.39 and its 200-day moving average price is $59.58. Upstart Holdings, Inc. has a 52-week low of $20.60 and a 52-week high of $96.43. The company has a market cap of $4.78 billion, a PE ratio of -34.93 and a beta of 2.25.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. On average, analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal 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.