Jump Financial LLC Purchases 147,608 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Jump Financial LLC lifted its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 759.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,037 shares of the company’s stock after purchasing an additional 147,608 shares during the period. Jump Financial LLC owned about 0.18% of Upstart worth $10,284,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of Upstart by 886.0% in the fourth quarter. Invesco Ltd. now owns 709,684 shares of the company’s stock worth $43,695,000 after acquiring an additional 637,706 shares during the period. Norges Bank acquired a new position in shares of Upstart in the 4th quarter valued at about $25,158,000. Vanguard Group Inc. boosted its position in shares of Upstart by 5.0% during the 4th 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. Tidal Investments LLC grew its stake in Upstart by 1,413.7% during 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 during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Upstart by 28.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,379,900 shares of the company’s stock valued at $84,960,000 after acquiring an additional 308,200 shares during the period. 63.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Upstart news, CFO Sanjay Datta sold 16,070 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $1,269,851.40. Following the sale, the chief financial officer now directly owns 295,537 shares in the company, valued at $23,353,333.74. This represents a 5.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dave Girouard sold 4,524 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.01, for a total transaction of $357,441.24. Following the transaction, the chief executive officer now owns 52,614 shares of the company’s stock, valued at $4,157,032.14. This trade represents a 7.92 % 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 quarter. 18.06% of the stock is owned by company insiders.

Upstart Stock Up 1.2 %

UPST opened at $40.45 on Wednesday. The firm has a 50-day moving average price of $56.22 and a 200-day moving average price of $60.37. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of -27.71 and a beta of 2.39.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating 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, sell-side analysts expect that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on UPST. Barclays decreased their price objective on Upstart from $93.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday. Morgan Stanley raised shares of Upstart from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $12.00 to $70.00 in a research report on Friday, February 14th. Citigroup raised their price target on shares of Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Piper Sandler reissued an “overweight” rating and set a $105.00 price objective (up from $85.00) on shares of Upstart in a report on Wednesday, February 12th. Finally, Needham & Company LLC boosted their target price on Upstart from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Upstart currently has an average rating of “Hold” and an average price target of $69.46.

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.