Crestline Management LP Boosts Stock Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Crestline Management LP raised its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,004 shares of the company’s stock after buying an additional 364 shares during the quarter. Crestline Management LP’s holdings in Upstart were worth $616,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in UPST. Blair William & Co. IL purchased a new position in Upstart in the 4th quarter worth approximately $222,000. Union Bancaire Privee UBP SA purchased a new position in shares of Upstart in the fourth quarter worth $2,057,000. Vanguard Group Inc. lifted its holdings in shares of Upstart by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company’s stock valued at $479,843,000 after purchasing an additional 369,640 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Upstart during the fourth quarter valued at $271,000. Finally, Mandatum Life Insurance Co Ltd purchased a new position in Upstart in the 4th quarter worth about $372,000. 63.01% of the stock is owned by institutional investors.

Insider Activity at Upstart

In other Upstart news, insider Natalia Mirgorodskaya sold 794 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value of $62,741.88. Following the transaction, the insider now owns 21,985 shares in the company, valued at approximately $1,737,254.70. This trade represents a 3.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Paul Gu sold 12,007 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was 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. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,395 shares of company stock worth $2,638,828 in the last 90 days. Corporate insiders own 16.67% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on UPST shares. Barclays lowered their price objective on shares of Upstart from $93.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Piper Sandler cut their price objective on Upstart from $105.00 to $69.00 and set an “overweight” rating for the company in a report on Wednesday. B. Riley raised Upstart from a “neutral” rating to a “buy” rating and increased their target price for the company from $49.00 to $105.00 in a report on Wednesday, February 12th. Morgan Stanley cut their price target on Upstart from $70.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Needham & Company LLC lowered their price objective on shares of Upstart from $108.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.42.

Upstart Stock Down 1.7 %

Upstart stock opened at $47.12 on Friday. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $96.43. The stock has a 50-day moving average price of $46.29 and a 200 day moving average price of $60.27. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of -32.27 and a beta of 2.39.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.11. The business had revenue of $213.37 million during the quarter, compared to analyst estimates of $201.08 million. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. The company’s revenue was up 67.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.31) EPS. Research analysts anticipate that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Upstart 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.