Oppenheimer Asset Management Inc. Boosts Stock Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Oppenheimer Asset Management Inc. lifted its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 16.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 24,030 shares of the company’s stock after purchasing an additional 3,379 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Upstart were worth $1,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in UPST. Point72 Asia Singapore Pte. Ltd. bought a new position in Upstart in the 3rd quarter worth about $35,000. BNP Paribas purchased a new stake in shares of Upstart in the third quarter worth about $37,000. Hollencrest Capital Management purchased a new stake in shares of Upstart in the third quarter worth about $40,000. Prospera Private Wealth LLC bought a new position in shares of Upstart in the third quarter valued at approximately $47,000. Finally, GAMMA Investing LLC grew its stake in Upstart by 19.9% during the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $83,000 after acquiring an additional 224 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Upstart Trading Down 7.5 %

NASDAQ:UPST opened at $61.69 on Tuesday. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $96.43. The company has a 50-day moving average price of $67.50 and a 200-day moving average price of $58.85. The stock has a market cap of $5.78 billion, a price-to-earnings ratio of -42.25 and a beta of 2.25.

Upstart (NASDAQ:UPST) last posted 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 return on equity of 25.87% and a negative net margin of 20.20%. Equities analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Dave Girouard sold 41,667 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total value of $2,608,354.20. Following the sale, the chief executive officer now directly owns 57,138 shares of the company’s stock, valued at $3,576,838.80. This represents a 42.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sanjay Datta sold 16,070 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the completion of the transaction, the chief financial officer now owns 295,537 shares of the company’s stock, 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 79,081 shares of company stock valued at $5,548,607 over the last ninety days. Company insiders own 18.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on UPST. Bank of America increased their target price on shares of Upstart from $33.00 to $39.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 12th. 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. B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $105.00 in a research report on Wednesday, February 12th. Redburn Atlantic upgraded Upstart from a “neutral” rating to a “buy” rating and upped their target price for the stock from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Finally, Wedbush lifted their price target on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.38.

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.