Upstart Holdings, Inc. $UPST Stock Position Lifted by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP grew its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 54,430.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,973 shares of the company’s stock after acquiring an additional 95,797 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Upstart were worth $2,221,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in shares of Upstart by 76.7% in the 3rd quarter. Parallel Advisors LLC now owns 1,656 shares of the company’s stock valued at $38,000 after purchasing an additional 719 shares in the last quarter. Asset Management One Co. Ltd. increased its position in Upstart by 33.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,790 shares of the company’s stock worth $41,000 after purchasing an additional 446 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Upstart by 274.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,842 shares of the company’s stock worth $47,000 after purchasing an additional 1,350 shares in the last quarter. Rakuten Securities Inc. bought a new position in Upstart in the 2nd quarter valued at approximately $67,000. Finally, Hollencrest Capital Management bought a new position in Upstart in the 1st quarter valued at approximately $51,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Upstart Stock Performance

Shares of NASDAQ:UPST opened at $20.41 on Wednesday. Upstart Holdings, Inc. has a 52 week low of $19.71 and a 52 week high of $52.10. The firm has a market cap of $2.02 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.16 and a beta of 2.48. The firm’s fifty day moving average is $24.20 and its 200-day moving average is $29.15.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, November 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.13. The business had revenue of $370.52 million during the quarter, compared to analyst estimates of $362.68 million. Upstart had a return on equity of 9.67% and a net margin of 4.86%. Upstart’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. Sell-side analysts forecast that Upstart Holdings, Inc. will post 0.38 EPS for the current year.

Insider Buying and Selling

In other news, CFO Andrea Blankmeyer sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $29.33, for a total transaction of $87,990.00. Following the completion of the transaction, the chief financial officer directly owned 152,208 shares in the company, valued at $4,464,260.64. This trade represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Natalia Mirgorodskaya sold 913 shares of Upstart stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $30.03, for a total value of $27,417.39. Following the completion of the transaction, the insider directly owned 35,875 shares in the company, valued at approximately $1,077,326.25. This represents a 2.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 148,652 shares of company stock worth $4,133,720. Corporate insiders own 17.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on UPST. BTIG Research decreased their target price on shares of Upstart from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, November 3rd. Loop Capital assumed coverage on shares of Upstart in a report on Tuesday, September 8th. They set a “hold” rating and a $34.00 price target for the company. Mizuho set a $35.00 price target on Upstart in a research note on Wednesday, November 4th. Truist Financial cut their price objective on Upstart from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, November 4th. Finally, Needham & Company LLC reduced their price objective on Upstart from $42.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, November 3rd. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.40.

Upstart Profile

Upstart Holdings, Inc. operates an artificial intelligence–based lending marketplace that connects consumers seeking loans with banks and credit unions. Its platform uses machine-learning models and borrower data to help lending partners assess credit risk and make lending decisions. The company’s offerings include personal loans and technology for auto lending, including auto retail and refinancing. Upstart was founded in 2012 by Dave Girouard, Paul Gu and Anna Counselman. Girouard serves as the company’s chief executive officer.