Nisa Investment Advisors LLC Trims Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Nisa Investment Advisors LLC lessened its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 4.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,745 shares of the company’s stock after selling 506 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Upstart were worth $495,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Upstart by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company’s stock worth $479,843,000 after purchasing an additional 369,640 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of Upstart by 20.1% during the fourth quarter. Two Sigma Investments LP now owns 1,922,770 shares of the company’s stock worth $118,385,000 after purchasing an additional 321,366 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of Upstart by 53.6% during the fourth quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company’s stock worth $117,914,000 after purchasing an additional 668,282 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Upstart by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,846,438 shares of the company’s stock worth $113,711,000 after purchasing an additional 29,664 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of Upstart by 190.2% during the fourth quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company’s stock worth $105,242,000 after purchasing an additional 1,120,300 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insider Activity at Upstart

In related news, CFO Sanjay Datta sold 13,512 shares of Upstart stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $46.97, for a total transaction of $634,658.64. Following the sale, the chief financial officer owned 311,356 shares of the company’s stock, valued at approximately $14,624,391.32. This trade represents a 4.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Natalia Mirgorodskaya sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $80.07, for a total value of $320,280.00. Following the transaction, the insider owned 24,623 shares of the company’s stock, valued at $1,971,563.61. This represents a 13.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,983 shares of company stock valued at $6,537,899. 16.67% of the stock is owned by company insiders.

Upstart Stock Performance

Shares of NASDAQ:UPST opened at $76.96 on Thursday. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of -102.61 and a beta of 2.37. The stock’s 50-day simple moving average is $58.16 and its two-hundred day simple moving average is $57.14. Upstart Holdings, Inc. has a 52-week low of $20.60 and a 52-week high of $96.43.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.11. Upstart had a negative return on equity of 15.27% and a negative net margin of 9.20%. The business had revenue of $213.37 million for the quarter, compared to analysts’ expectations of $201.08 million. During the same period last year, the firm posted ($0.31) earnings per share. The business’s revenue for the quarter was up 67.0% on a year-over-year basis. As a group, equities analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on UPST shares. Barclays boosted their price objective on Upstart from $42.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Piper Sandler raised shares of Upstart to an “overweight” rating and set a $75.00 price target on the stock in a research note on Tuesday, June 24th. Morgan Stanley decreased their price target on shares of Upstart from $70.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. Needham & Company LLC reissued a “buy” rating and set a $70.00 price target on shares of Upstart in a research note on Monday, May 19th. Finally, Stephens assumed coverage on shares of Upstart in a research note on Thursday, June 12th. They set an “equal weight” rating and a $55.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $71.62.

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.