9,099 Shares in Upstart Holdings, Inc. (NASDAQ:UPST) Acquired by Jennison Associates LLC

Jennison Associates LLC purchased a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 9,099 shares of the company’s stock, valued at approximately $560,000.

Several other large investors have also recently bought and sold shares of UPST. Millennium Management LLC lifted its holdings in Upstart by 1,792.9% during the 2nd quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock worth $6,190,000 after buying an additional 277,896 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Upstart by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,301 shares of the company’s stock worth $1,045,000 after buying an additional 2,976 shares in the last quarter. Keeler & Nadler Financial Planning & Wealth Management acquired a new position in Upstart during the 3rd quarter worth $280,000. LifePro Asset Management acquired a new position in Upstart during the 3rd quarter worth $2,008,000. Finally, Indiana Trust & Investment Management Co acquired a new position in Upstart during the 3rd quarter worth $43,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Upstart Trading Up 5.7 %

UPST stock opened at $68.85 on Friday. The business’s 50-day moving average price is $67.53 and its two-hundred day moving average price is $53.39. The firm has a market cap of $6.28 billion, a PE ratio of -35.67 and a beta of 2.25. Upstart Holdings, Inc. has a 1-year low of $20.60 and a 1-year high of $88.95.

Upstart (NASDAQ:UPST) last posted its earnings results on Thursday, November 7th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.31). The business had revenue of $162.14 million for the quarter, compared to the consensus estimate of $149.94 million. Upstart had a negative return on equity of 32.57% and a negative net margin of 30.15%. During the same quarter in the prior year, the firm posted ($0.48) earnings per share. On average, analysts forecast that Upstart Holdings, Inc. will post -2.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $56.00 to $87.00 in a report on Friday, November 8th. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $31.00 to $85.00 in a research report on Friday, November 8th. Wedbush raised their price target on Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Finally, JPMorgan Chase & Co. lowered Upstart from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $45.00 to $57.00 in a research report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Upstart has an average rating of “Hold” and an average target price of $61.80.

Insiders Place Their Bets

In other news, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $65.41, for a total value of $2,725,438.47. Following the sale, the chief executive officer now directly owns 61,512 shares in the company, valued at $4,023,499.92. The trade was a 40.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sanjay Datta sold 1,500 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $79.54, for a total value of $119,310.00. Following the completion of the sale, the chief financial officer now owns 331,093 shares in the company, valued at approximately $26,335,137.22. This trade represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 349,368 shares of company stock worth $24,176,172. Corporate insiders own 18.06% of the company’s stock.

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.