Perennial Investment Advisors LLC Takes $284,000 Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Perennial Investment Advisors LLC bought a new stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,620 shares of the company’s stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its position in Upstart by 3.1% during the fourth quarter. Jones Financial Companies Lllp now owns 5,511 shares of the company’s stock valued at $339,000 after acquiring an additional 167 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Upstart by 24.2% during the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock worth $54,000 after purchasing an additional 172 shares during the period. Bailard Inc. grew its holdings in Upstart by 0.5% during the 4th quarter. Bailard Inc. now owns 38,759 shares of the company’s stock valued at $2,386,000 after purchasing an additional 212 shares during the last quarter. GAMMA Investing LLC raised its position in Upstart by 19.9% in the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $83,000 after purchasing an additional 224 shares during the period. Finally, Orion Capital Management LLC lifted its stake in Upstart by 5.1% in the third quarter. Orion Capital Management LLC now owns 5,560 shares of the company’s stock worth $222,000 after purchasing an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Upstart Stock Down 10.1 %

Shares of NASDAQ:UPST opened at $34.80 on Monday. The firm has a 50 day moving average of $60.87 and a 200 day moving average of $60.69. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of -23.84 and a beta of 2.39. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $96.43.

Upstart (NASDAQ:UPST) last issued its quarterly earnings data 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 return on equity of 25.87% and a negative net margin of 20.20%. On average, sell-side analysts expect that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on UPST. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $57.00 to $79.00 in a report on Wednesday, February 12th. The Goldman Sachs Group increased their target price on Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a research note on Wednesday, February 12th. Bank of America boosted their target price on shares of Upstart from $33.00 to $39.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th. Barclays raised their price target on shares of Upstart from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 18th. Finally, 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. 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.38.

Insider Activity

In other news, CEO Dave Girouard sold 41,667 shares of the company’s stock in a transaction on 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 directly owns 57,138 shares of the company’s stock, valued at approximately $3,576,838.80. This represents a 42.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sanjay Datta sold 16,070 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 $1,269,851.40. Following the completion of the sale, the chief financial officer now directly owns 295,537 shares of the company’s stock, valued at $23,353,333.74. The trade was a 5.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,062 shares of company stock worth $5,247,182. Corporate insiders own 18.06% of the company’s stock.

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.