Jump Financial LLC Increases Stock Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Jump Financial LLC grew its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 759.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,037 shares of the company’s stock after buying an additional 147,608 shares during the period. Jump Financial LLC’s holdings in Upstart were worth $10,284,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blair William & Co. IL bought a new position in shares of Upstart during the fourth quarter valued at about $222,000. Union Bancaire Privee UBP SA bought a new position in Upstart during the 4th quarter worth approximately $2,057,000. Y Intercept Hong Kong Ltd purchased a new position in Upstart in the 3rd quarter worth approximately $430,000. Geode Capital Management LLC lifted its position in Upstart by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock valued at $72,702,000 after purchasing an additional 29,482 shares during the last quarter. Finally, Merit Financial Group LLC bought a new position in shares of Upstart in the fourth quarter worth approximately $271,000. Institutional investors own 63.01% of the company’s stock.

Upstart Trading Up 1.2 %

Shares of UPST opened at $40.45 on Wednesday. The company has a market cap of $3.79 billion, a price-to-earnings ratio of -27.71 and a beta of 2.39. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $96.43. The business’s fifty day simple moving average is $56.22 and its two-hundred day simple moving average is $60.37.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) 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, research analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Wall Street Analyst Weigh In

UPST has been the subject of several analyst reports. Bank of America increased their price target on shares of Upstart from $33.00 to $39.00 and gave the company an “underperform” rating in a research report on Wednesday, February 12th. Morgan Stanley raised Upstart from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $12.00 to $70.00 in a research note on Friday, February 14th. B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $105.00 in a research report on Wednesday, February 12th. Needham & Company LLC boosted their target price on Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 target price (up from $85.00) on shares of Upstart in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Upstart currently has a consensus rating of “Hold” and a consensus target price of $69.46.

Insiders Place Their Bets

In related news, insider Natalia Mirgorodskaya sold 794 shares of Upstart stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Paul Gu sold 12,007 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $948,793.14. Following the sale, the chief technology officer now owns 1,006,599 shares of the company’s stock, valued at approximately $79,541,452.98. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,395 shares of company stock valued at $2,638,828. Company insiders own 18.06% of the company’s stock.

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.