Ieq Capital LLC Purchases 707 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Ieq Capital LLC raised its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 10.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,213 shares of the company’s stock after acquiring an additional 707 shares during the quarter. Ieq Capital LLC’s holdings in Upstart were worth $444,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fred Alger Management LLC lifted its position in shares of Upstart by 153.2% during the third 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 in the last quarter. Two Sigma Advisers LP lifted its position in shares of Upstart by 689.5% during the third quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock worth $23,566,000 after acquiring an additional 514,400 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Upstart by 1,413.7% during the third quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock worth $13,342,000 after acquiring an additional 311,434 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Upstart by 63.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after acquiring an additional 282,481 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Upstart by 4,087.8% during the third quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock worth $9,333,000 after acquiring an additional 227,688 shares in the last quarter. 63.01% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the transaction, the chief executive officer now directly owns 57,138 shares of the company’s stock, valued at approximately $3,576,838.80. This trade represents a 42.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sanjay Datta sold 16,070 shares of the firm’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 $1,269,851.40. Following the transaction, the chief financial officer now directly owns 295,537 shares in the company, valued at $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. Over the last three months, insiders have sold 167,181 shares of company stock valued at $11,664,466. 18.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on UPST shares. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $57.00 to $79.00 in a research report on Wednesday, February 12th. Citigroup increased their target price on Upstart from $87.00 to $108.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Wedbush increased their target price on Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Needham & Company LLC increased their price objective on Upstart from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $105.00 price objective (up previously from $85.00) on shares of Upstart in a research report on Wednesday, February 12th. Two investment 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. Based on data from MarketBeat.com, Upstart currently has a consensus rating of “Hold” and a consensus target price of $73.38.

Upstart Stock Up 2.8 %

NASDAQ UPST opened at $68.78 on Thursday. The stock’s 50-day simple moving average is $67.68 and its two-hundred day simple moving average is $58.08. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of -47.11 and a beta of 2.25.

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

About Upstart

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.