Bristlecone Advisors LLC Takes Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Bristlecone Advisors LLC bought a new position in Upstart Holdings, Inc. (NASDAQ:UPST) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,454 shares of the company’s stock, valued at approximately $258,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in shares of Upstart by 1,792.9% during the second quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock worth $6,190,000 after purchasing an additional 277,896 shares during the period. International Assets Investment Management LLC lifted its holdings in Upstart by 4,087.8% in the 3rd quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock worth $9,333,000 after buying an additional 227,688 shares during the period. Vanguard Group Inc. grew its position in shares of Upstart by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 7,013,918 shares of the company’s stock worth $286,589,000 after buying an additional 157,719 shares during the last quarter. Seven Eight Capital LP increased its stake in shares of Upstart by 349.1% during the first quarter. Seven Eight Capital LP now owns 189,385 shares of the company’s stock valued at $5,093,000 after buying an additional 147,213 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Upstart by 442.1% during the second quarter. SG Americas Securities LLC now owns 148,214 shares of the company’s stock valued at $3,496,000 after buying an additional 120,871 shares during the period. 63.01% of the stock is currently owned by institutional investors.

Upstart Trading Down 1.0 %

Shares of NASDAQ:UPST opened at $50.58 on Monday. The stock has a fifty day simple moving average of $42.12 and a two-hundred day simple moving average of $31.36. Upstart Holdings, Inc. has a 12-month low of $19.84 and a 12-month high of $57.40.

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

Insider Activity

In related news, Chief Legal Officer Scott Darling sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $45.00, for a total value of $405,000.00. Following the completion of the transaction, the insider now directly owns 164,870 shares in the company, valued at $7,419,150. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Upstart news, Chief Legal Officer Scott Darling sold 9,000 shares of Upstart stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $45.00, for a total value of $405,000.00. Following the completion of the sale, the insider now owns 164,870 shares of the company’s stock, valued at approximately $7,419,150. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sanjay Datta sold 1,500 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $53.81, for a total value of $80,715.00. Following the transaction, the chief financial officer now directly owns 335,593 shares in the company, valued at approximately $18,058,259.33. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 312,459 shares of company stock worth $13,667,605 over the last 90 days. 18.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Mizuho lifted their price target on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Wedbush raised shares of Upstart from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $10.00 to $45.00 in a research note on Monday, October 14th. Piper Sandler increased their price target on shares of Upstart from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Citigroup raised Upstart from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $15.00 to $33.00 in a research report on Wednesday, August 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Upstart has an average rating of “Hold” and a consensus price target of $31.50.

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.