Perennial Investment Advisors LLC Makes New $284,000 Investment in Upstart Holdings, Inc. (NASDAQ:UPST)

Perennial Investment Advisors LLC acquired a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 4,620 shares of the company’s stock, valued at approximately $284,000.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Upstart by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company’s stock worth $479,843,000 after buying an additional 369,640 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Upstart by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,846,438 shares of the company’s stock valued at $113,711,000 after acquiring an additional 29,664 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Upstart by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 657,118 shares of the company’s stock worth $40,459,000 after acquiring an additional 14,242 shares during the period. Trexquant Investment LP raised its holdings in shares of Upstart by 43.3% during the fourth quarter. Trexquant Investment LP now owns 596,389 shares of the company’s stock worth $36,720,000 after purchasing an additional 180,204 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in Upstart by 689.5% during the third quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock valued at $23,566,000 after purchasing an additional 514,400 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Upstart Stock Down 10.1 %

UPST opened at $34.80 on Monday. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43. The company has a market cap of $3.26 billion, a PE ratio of -23.84 and a beta of 2.39. The company has a 50-day moving average price of $60.87 and a 200 day moving average price of $60.69.

Upstart (NASDAQ:UPST) last released its 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 return on equity of 25.87% and a negative net margin of 20.20%. As a group, sell-side analysts expect that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on UPST. B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $105.00 in a research note on Wednesday, February 12th. Piper Sandler reiterated an “overweight” rating and set a $105.00 price target (up from $85.00) on shares of Upstart in a research report on Wednesday, February 12th. JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $57.00 to $79.00 in a report on Wednesday, February 12th. The Goldman Sachs Group raised their price objective on shares of Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a research note on Wednesday, February 12th. Finally, Barclays boosted their target price on shares of Upstart from $80.00 to $93.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 18th. Two equities 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $73.38.

Insider Buying and Selling at Upstart

In other Upstart news, insider Natalia Mirgorodskaya sold 794 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $62,741.88. Following the transaction, the insider now owns 21,985 shares of the company’s stock, valued at approximately $1,737,254.70. The trade was a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Dave Girouard sold 4,524 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.01, for a total value of $357,441.24. Following the completion of the sale, the chief executive officer now owns 52,614 shares of the company’s stock, valued at approximately $4,157,032.14. The trade was a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,062 shares of company stock worth $5,247,182. Corporate insiders own 18.06% of the company’s stock.

Upstart 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.