Teacher Retirement System of Texas Takes $550,000 Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Teacher Retirement System of Texas acquired a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,947 shares of the company’s stock, valued at approximately $550,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Two Sigma Advisers LP increased its holdings in Upstart by 190.2% during the 4th 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 during the period. Marshall Wace LLP increased its holdings in Upstart by 300.2% during the 4th quarter. Marshall Wace LLP now owns 1,061,512 shares of the company’s stock worth $65,357,000 after purchasing an additional 796,252 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in Upstart during the 4th quarter worth $43,697,000. Fred Alger Management LLC increased its holdings in Upstart by 53.6% during the 4th 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 during the period. Finally, Invesco Ltd. increased its holdings in Upstart by 886.0% during the 4th quarter. Invesco Ltd. now owns 709,684 shares of the company’s stock worth $43,695,000 after purchasing an additional 637,706 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Upstart Stock Performance

NASDAQ UPST opened at $76.96 on Thursday. The stock has a 50-day simple moving average of $58.16 and a two-hundred day simple moving average of $57.14. The firm has a market capitalization of $7.32 billion, a P/E ratio of -102.61 and a beta of 2.37. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43.

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

Insider Buying and Selling at Upstart

In other Upstart news, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $60.05, for a total transaction of $2,502,103.35. Following the completion of the transaction, the chief executive officer owned 52,614 shares in the company, valued at approximately $3,159,470.70. This trade represents a 44.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Natalia Mirgorodskaya sold 6,533 shares of Upstart stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $70.06, for a total value of $457,701.98. Following the transaction, the insider owned 24,623 shares of the company’s stock, valued at $1,725,087.38. The trade was a 20.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,983 shares of company stock worth $6,537,899. Insiders own 16.67% of the company’s stock.

Analyst Upgrades and Downgrades

UPST has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price target on shares of Upstart in a report on Monday, May 19th. Morgan Stanley lowered their price objective on Upstart from $70.00 to $50.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Barclays raised their price objective on Upstart from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Stephens assumed coverage on Upstart in a research report on Thursday, June 12th. They issued an “equal weight” rating and a $55.00 price objective for the company. Finally, Bank of America raised Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 price objective for the company in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $71.62.

About Upstart

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.