Trexquant Investment LP Acquires 180,204 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Trexquant Investment LP boosted its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 43.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 596,389 shares of the company’s stock after acquiring an additional 180,204 shares during the quarter. Upstart accounts for about 0.4% of Trexquant Investment LP’s portfolio, making the stock its 17th largest position. Trexquant Investment LP owned 0.65% of Upstart worth $36,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Upstart by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,846,438 shares of the company’s stock valued at $113,711,000 after purchasing an additional 29,664 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in shares of Upstart in the fourth quarter valued at about $321,000. Pictet Asset Management Holding SA raised its position in shares of Upstart by 20.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 10,326 shares of the company’s stock worth $636,000 after acquiring an additional 1,749 shares during the last quarter. Norges Bank acquired a new position in shares of Upstart in the fourth quarter worth approximately $25,158,000. Finally, Blair William & Co. IL bought a new stake in Upstart in the fourth quarter valued at approximately $222,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on UPST shares. Wedbush raised their price target on shares of Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Needham & Company LLC upped their price target on shares of Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler reissued an “overweight” rating and issued a $105.00 price objective (up from $85.00) on shares of Upstart in a research report on Wednesday, February 12th. Citigroup raised their target price on Upstart from $87.00 to $108.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $57.00 to $79.00 in a research note on Wednesday, February 12th. Two equities 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, Upstart has an average rating of “Hold” and an average price target of $73.38.

Insider Activity

In related news, CTO Paul Gu sold 12,007 shares of the firm’s stock in a transaction dated 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 directly owns 1,006,599 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the transaction, the chief executive officer now owns 57,138 shares in the company, valued at approximately $3,576,838.80. This trade represents a 42.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,062 shares of company stock worth $5,247,182 over the last 90 days. 18.06% of the stock is currently owned by corporate insiders.

Upstart Trading Down 2.7 %

Shares of UPST stock opened at $46.03 on Tuesday. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $96.43. The firm has a market capitalization of $4.31 billion, a PE ratio of -31.53 and a beta of 2.25. The firm has a fifty day simple moving average of $62.85 and a two-hundred day simple moving average of $60.56.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. On average, equities analysts predict that Upstart Holdings, Inc. will post -0.03 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.