Kercheville Advisors LLC Purchases 5,000 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Kercheville Advisors LLC increased its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 49.8% during the 4th quarter, Holdings Channel reports. The firm owned 15,050 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. Kercheville Advisors LLC’s holdings in Upstart were worth $927,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of UPST. Fred Alger Management LLC grew its stake in Upstart by 153.2% in the third quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock worth $49,886,000 after purchasing an additional 754,416 shares in the last quarter. Two Sigma Advisers LP grew its stake in Upstart by 689.5% in the third quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock worth $23,566,000 after purchasing an additional 514,400 shares in the last quarter. Tidal Investments LLC grew its stake in Upstart by 1,413.7% in the third quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock worth $13,342,000 after purchasing an additional 311,434 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Upstart by 63.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock valued at $29,031,000 after acquiring an additional 282,481 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Upstart by 1,792.9% during the 2nd quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock valued at $6,190,000 after acquiring an additional 277,896 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

UPST has been the topic of several recent research reports. Redburn Atlantic raised Upstart from a “neutral” rating to a “buy” rating and increased their target price for the company from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Needham & Company LLC upgraded Upstart from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Friday, December 13th. JPMorgan Chase & Co. lowered Upstart from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $45.00 to $57.00 in a report on Monday, December 2nd. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Finally, Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $31.00 to $85.00 in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.80.

Upstart Trading Up 2.7 %

NASDAQ UPST opened at $64.98 on Thursday. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $88.95. The stock has a 50-day simple moving average of $67.99 and a two-hundred day simple moving average of $53.02.

Upstart (NASDAQ:UPST) last posted its earnings results on Thursday, November 7th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.31). Upstart had a negative net margin of 30.15% and a negative return on equity of 32.57%. The business had revenue of $162.14 million for the quarter, compared to analyst estimates of $149.94 million. During the same quarter last year, the business earned ($0.48) earnings per share. On average, research analysts anticipate that Upstart Holdings, Inc. will post -2.18 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $65.15, for a total transaction of $2,714,605.05. Following the transaction, the chief executive officer now directly owns 61,512 shares in the company, valued at $4,007,506.80. The trade was a 40.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Paul Gu sold 87,600 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $69.39, for a total value of $6,078,564.00. Following the transaction, the chief technology officer now owns 863,065 shares in the company, valued at approximately $59,888,080.35. This represents a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 391,035 shares of company stock worth $26,890,777. Insiders own 18.06% of the company’s stock.

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.