Jacobs Levy Equity Management Inc. Trims Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Jacobs Levy Equity Management Inc. cut its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 44.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 26,417 shares of the company’s stock after selling 20,901 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Upstart were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of UPST. Rakuten Securities Inc. purchased a new position in shares of Upstart during the 4th quarter valued at approximately $31,000. Farther Finance Advisors LLC increased its holdings in shares of Upstart by 24.2% during the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock valued at $54,000 after purchasing an additional 172 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Upstart by 49.1% during 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 in the last quarter. R Squared Ltd purchased a new position in shares of Upstart during the 4th quarter valued at approximately $96,000. Finally, Ancora Advisors LLC increased its holdings in shares of Upstart by 31.3% during the 4th quarter. Ancora Advisors LLC now owns 1,575 shares of the company’s stock valued at $97,000 after purchasing an additional 375 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Upstart news, CTO Paul Gu sold 12,007 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $948,793.14. Following the transaction, the chief technology officer now owns 1,006,599 shares of the company’s stock, valued at $79,541,452.98. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Natalia Mirgorodskaya sold 794 shares of the company’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 $62,741.88. Following the completion of the transaction, the insider now directly owns 21,985 shares in the company, valued at $1,737,254.70. The trade was a 3.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,395 shares of company stock valued at $2,638,828. 16.67% of the stock is currently owned by insiders.

Upstart Trading Up 1.5%

Shares of UPST stock opened at $48.08 on Friday. The company’s 50-day moving average price is $46.10 and its 200-day moving average price is $60.26. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of -32.93 and a beta of 2.39. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.11. The firm had revenue of $213.37 million for the quarter, compared to analysts’ expectations of $201.08 million. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. The company’s revenue was up 67.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.31) EPS. As a group, equities research analysts predict that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Bank of America raised shares of Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 target price for the company in a report on Tuesday, April 29th. Citigroup increased their price objective on shares of Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $57.00 to $79.00 in a report on Wednesday, February 12th. Piper Sandler decreased their price objective on shares of Upstart from $105.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Finally, Needham & Company LLC decreased their price objective on shares of Upstart from $108.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. One 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.81.

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.