Handelsbanken Fonder AB Acquires 2,000 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Handelsbanken Fonder AB grew its holdings in Upstart Holdings, Inc. (NASDAQ:UPST) by 20.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,000 shares of the company’s stock after acquiring an additional 2,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Upstart were worth $490,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CWM LLC boosted its position in shares of Upstart by 56.5% in the third quarter. CWM LLC now owns 1,169 shares of the company’s stock valued at $33,000 after acquiring an additional 422 shares during the period. Strs Ohio bought a new stake in Upstart during the fourth quarter worth about $57,000. DekaBank Deutsche Girozentrale bought a new stake in Upstart during the third quarter worth about $51,000. EMC Capital Management bought a new stake in Upstart during the third quarter worth about $106,000. Finally, AdvisorNet Financial Inc lifted its position in Upstart by 24.0% during the fourth quarter. AdvisorNet Financial Inc now owns 5,165 shares of the company’s stock worth $211,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 63.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on UPST. Bank of America began coverage on Upstart in a research note on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price objective for the company. Piper Sandler reissued a “neutral” rating and set a $28.00 target price on shares of Upstart in a research report on Tuesday, March 19th. JMP Securities reissued a “market perform” rating on shares of Upstart in a research report on Wednesday, April 17th. JPMorgan Chase & Co. decreased their target price on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. Finally, Mizuho increased their target price on shares of Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a research report on Thursday, January 18th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.00.

Insider Buying and Selling at Upstart

In other news, CFO Sanjay Datta sold 1,000 shares of Upstart stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $33.84, for a total transaction of $33,840.00. Following the completion of the sale, the chief financial officer now owns 354,090 shares in the company, valued at approximately $11,982,405.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Natalia Mirgorodskaya sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $25.48, for a total value of $63,700.00. Following the completion of the sale, the insider now owns 29,165 shares in the company, valued at approximately $743,124.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $33.84, for a total value of $33,840.00. Following the completion of the sale, the chief financial officer now owns 354,090 shares of the company’s stock, valued at approximately $11,982,405.60. The disclosure for this sale can be found here. Insiders sold 66,419 shares of company stock valued at $1,750,272 in the last quarter. 18.06% of the stock is currently owned by corporate insiders.

Upstart Stock Performance

Shares of UPST opened at $22.87 on Thursday. The business has a 50-day moving average of $24.82 and a 200 day moving average of $29.31. Upstart Holdings, Inc. has a fifty-two week low of $11.93 and a fifty-two week high of $72.58. The firm has a market cap of $2.01 billion, a P/E ratio of -7.89 and a beta of 1.94.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.05. The company had revenue of $140.31 million during the quarter, compared to analyst estimates of $135.28 million. Upstart had a negative return on equity of 35.47% and a negative net margin of 46.76%. As a group, research analysts predict that Upstart Holdings, Inc. will post -2.19 earnings per share for the current fiscal year.

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.