Trexquant Investment LP Buys 180,204 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Trexquant Investment LP raised its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 43.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 596,389 shares of the company’s stock after acquiring an additional 180,204 shares during the quarter. Upstart makes up 0.4% of Trexquant Investment LP’s holdings, making the stock its 17th biggest position. Trexquant Investment LP’s holdings in Upstart were worth $36,720,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Upstart by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 642,876 shares of the company’s stock worth $25,721,000 after acquiring an additional 32,052 shares during the period. FMR LLC grew its holdings in Upstart by 36.3% during the 3rd quarter. FMR LLC now owns 6,735 shares of the company’s stock valued at $269,000 after buying an additional 1,792 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Upstart during the third quarter valued at about $727,000. Point72 Hong Kong Ltd purchased a new stake in shares of Upstart in the third quarter worth about $102,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Upstart in the third quarter valued at approximately $35,000. 63.01% of the stock is owned by institutional investors.

Insider Activity at Upstart

In other news, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the sale, the chief executive officer now owns 57,138 shares of the company’s stock, valued at approximately $3,576,838.80. The trade was a 42.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sanjay Datta sold 16,070 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 295,537 shares in the company, valued at approximately $23,353,333.74. The trade was a 5.16 % decrease in their ownership of the stock. 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 in the last 90 days. Company insiders own 18.06% of the company’s stock.

Upstart Stock Performance

Shares of UPST stock opened at $46.03 on Tuesday. The company has a market capitalization of $4.31 billion, a P/E ratio of -31.53 and a beta of 2.25. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43. The stock has a 50 day moving average price of $62.85 and a two-hundred day moving average price of $60.56.

Upstart (NASDAQ:UPST) last announced its quarterly 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%. As a group, equities analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on UPST. Redburn Atlantic upgraded shares of Upstart from a “neutral” rating to a “buy” rating and increased their target price for the stock from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Needham & Company LLC lifted their price objective on Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group raised their price target on Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. Morgan Stanley raised Upstart from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $12.00 to $70.00 in a report on Friday, February 14th. Finally, Wedbush raised their target price on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Upstart has a consensus rating of “Hold” and a consensus target price of $73.38.

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.