Upstart Holdings, Inc. (NASDAQ:UPST) Shares Purchased by Invesco Ltd.

Invesco Ltd. raised its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 886.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 709,684 shares of the company’s stock after buying an additional 637,706 shares during the period. Invesco Ltd. owned about 0.78% of Upstart worth $43,695,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of UPST. Jones Financial Companies Lllp lifted its position in Upstart by 3.1% during the 4th quarter. Jones Financial Companies Lllp now owns 5,511 shares of the company’s stock worth $339,000 after acquiring an additional 167 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Upstart by 24.2% during the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock valued at $54,000 after purchasing an additional 172 shares during the period. Bailard Inc. lifted its position in shares of Upstart by 0.5% during the fourth quarter. Bailard Inc. now owns 38,759 shares of the company’s stock worth $2,386,000 after purchasing an additional 212 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Upstart by 19.9% in the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $83,000 after purchasing an additional 224 shares during the period. Finally, KBC Group NV grew its holdings in Upstart by 17.8% during the 4th quarter. KBC Group NV now owns 3,088 shares of the company’s stock valued at $190,000 after purchasing an additional 467 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Upstart Price Performance

Shares of NASDAQ UPST opened at $39.42 on Thursday. Upstart Holdings, Inc. has a 1-year low of $20.60 and a 1-year high of $96.43. The firm has a market capitalization of $3.69 billion, a PE ratio of -27.00 and a beta of 2.39. The business’s fifty day moving average price is $55.63 and its two-hundred day moving average price is $60.23.

Upstart (NASDAQ:UPST) last issued its quarterly earnings data 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%. Equities research analysts expect that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Transactions at Upstart

In related news, CTO Paul Gu sold 12,007 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 $948,793.14. Following the transaction, the chief technology officer now owns 1,006,599 shares in the company, valued at $79,541,452.98. This trade represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dave Girouard sold 4,524 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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 $4,157,032.14. This trade represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,395 shares of company stock valued at $2,638,828. 18.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $57.00 to $79.00 in a report on Wednesday, February 12th. B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $49.00 to $105.00 in a research note on Wednesday, February 12th. Morgan Stanley upgraded Upstart from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $12.00 to $70.00 in a report on Friday, February 14th. Piper Sandler reiterated an “overweight” rating and set a $105.00 target price (up from $85.00) on shares of Upstart in a research note on Wednesday, February 12th. Finally, Needham & Company LLC raised their price target on shares of Upstart from $100.00 to $108.00 and gave the stock a “buy” rating 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.46.

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.