EMC Capital Management Purchases 13,700 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

EMC Capital Management grew its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 217.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 20,000 shares of the company’s stock after purchasing an additional 13,700 shares during the quarter. EMC Capital Management’s holdings in Upstart were worth $800,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in UPST. Vanguard Group Inc. lifted its position in Upstart by 1.6% during the first quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock valued at $191,698,000 after purchasing an additional 115,057 shares during the period. Liontrust Investment Partners LLP boosted its holdings in shares of Upstart by 26.1% in the second quarter. Liontrust Investment Partners LLP now owns 290,000 shares of the company’s stock worth $6,841,000 after buying an additional 60,000 shares during the last quarter. Bank of New York Mellon Corp grew its position in Upstart by 15.3% during the second quarter. Bank of New York Mellon Corp now owns 272,430 shares of the company’s stock valued at $6,427,000 after buying an additional 36,206 shares during the period. Millennium Management LLC raised its position in Upstart by 1,792.9% in the second quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock worth $6,190,000 after acquiring an additional 277,896 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of Upstart by 4,087.8% during the 3rd quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock worth $9,333,000 after acquiring an additional 227,688 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Insider Activity

In other news, CEO Dave Girouard sold 3,361 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total value of $128,894.35. Following the completion of the transaction, the chief executive officer now owns 61,512 shares of the company’s stock, valued at $2,358,985.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Scott Darling sold 84,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $50.02, for a total value of $4,201,680.00. Following the transaction, the insider now directly owns 152,043 shares of the company’s stock, valued at approximately $7,605,190.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Dave Girouard sold 3,361 shares of Upstart stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total value of $128,894.35. Following the transaction, the chief executive officer now owns 61,512 shares in the company, valued at approximately $2,358,985.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 313,959 shares of company stock valued at $13,745,155. Company insiders own 18.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wedbush upgraded Upstart from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $45.00 in a research note on Monday, October 14th. Barclays raised their price objective on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Citigroup upgraded Upstart from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $15.00 to $33.00 in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Upstart from $27.00 to $30.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Upstart in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.50.

Upstart Stock Down 0.4 %

Shares of Upstart stock opened at $48.48 on Friday. Upstart Holdings, Inc. has a 52 week low of $19.84 and a 52 week high of $57.40. The stock’s fifty day moving average is $43.11 and its two-hundred day moving average is $32.17.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.22. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. The firm had revenue of $127.63 million for the quarter, compared to the consensus estimate of $124.55 million. During the same period last year, the firm earned ($0.34) earnings per share. The company’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, research analysts predict that Upstart Holdings, Inc. will post -2.39 EPS for the current year.

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.