Aristeia Capital L.L.C. Invests $3.49 Million in Upstart Holdings, Inc. (NASDAQ:UPST)

Aristeia Capital L.L.C. purchased a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) in the 4th quarter, Holdings Channel reports. The firm purchased 56,700 shares of the company’s stock, valued at approximately $3,491,000.

A number of other hedge funds also recently modified their holdings of UPST. Rakuten Securities Inc. acquired a new stake in shares of Upstart in the 4th quarter valued at approximately $31,000. Farther Finance Advisors LLC grew its position in shares of Upstart by 24.2% in the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock valued at $54,000 after purchasing an additional 172 shares during the last quarter. GAMMA Investing LLC increased its position in Upstart by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $83,000 after buying an additional 224 shares during the period. Blue Trust Inc. boosted its holdings in Upstart by 49.1% in the 4th quarter. Blue Trust Inc. now owns 1,475 shares of the company’s stock valued at $91,000 after purchasing an additional 486 shares during the period. Finally, R Squared Ltd acquired a new stake in Upstart during the fourth quarter worth approximately $96,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

UPST has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their price objective on shares of Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Piper Sandler reiterated an “overweight” rating and set a $105.00 target price (up from $85.00) on shares of Upstart in a research report on Wednesday, February 12th. Barclays lowered their price objective on Upstart from $93.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group increased their price target on Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $57.00 to $79.00 in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Upstart has a consensus rating of “Hold” and an average target price of $70.54.

Insider Activity at Upstart

In other news, CFO Sanjay Datta sold 16,070 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the transaction, the chief financial officer now directly owns 295,537 shares of the company’s stock, valued at approximately $23,353,333.74. The trade was a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dave Girouard sold 4,524 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $79.01, for a total value of $357,441.24. Following the transaction, the chief executive officer now directly owns 52,614 shares of the company’s stock, valued at approximately $4,157,032.14. This trade represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,395 shares of company stock worth $2,638,828 in the last ninety days. 16.67% of the stock is owned by company insiders.

Upstart Stock Up 5.0 %

UPST opened at $50.08 on Friday. The business’s fifty day simple moving average is $47.86 and its 200 day simple moving average is $60.40. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $96.43. The stock has a market cap of $4.76 billion, a PE ratio of -34.30 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, topping the consensus estimate of ($0.04) by $0.02. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. As a group, equities analysts anticipate that Upstart Holdings, Inc. will post -0.03 earnings per share for the current 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.