Orion Capital Management LLC Raises Stock Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Orion Capital Management LLC increased its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 18.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,700 shares of the company’s stock after acquiring an additional 880 shares during the quarter. Orion Capital Management LLC’s holdings in Upstart were worth $233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Upstart by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,856,199 shares of the company’s stock valued at $195,676,000 after purchasing an additional 87,832 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Upstart by 0.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,018,354 shares of the company’s stock valued at $41,610,000 after buying an additional 5,875 shares during the last quarter. Northern Trust Corp boosted its holdings in Upstart by 1.1% in the third quarter. Northern Trust Corp now owns 718,745 shares of the company’s stock worth $20,513,000 after acquiring an additional 8,091 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Upstart by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 555,713 shares of the company’s stock worth $15,860,000 after acquiring an additional 21,344 shares during the last quarter. Finally, Fred Alger Management LLC increased its holdings in shares of Upstart by 121.9% during the third quarter. Fred Alger Management LLC now owns 508,050 shares of the company’s stock valued at $14,500,000 after acquiring an additional 279,110 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insider Buying and Selling

In other news, CTO Paul Gu sold 60,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $26.31, for a total transaction of $1,578,600.00. Following the transaction, the chief technology officer now owns 893,596 shares in the company, valued at approximately $23,510,510.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CTO Paul Gu sold 60,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $26.31, for a total value of $1,578,600.00. Following the transaction, the chief technology officer now directly owns 893,596 shares of the company’s stock, valued at approximately $23,510,510.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Natalia Mirgorodskaya sold 1,919 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $24.30, for a total value of $46,631.70. Following the sale, the insider now owns 28,246 shares of the company’s stock, valued at $686,377.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,419 shares of company stock valued at $1,750,272. 18.06% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on UPST. Piper Sandler reissued a “neutral” rating and set a $28.00 target price on shares of Upstart in a research report on Tuesday, March 19th. Bank of America initiated coverage on Upstart in a research report on Thursday, April 4th. They issued an “underperform” rating and a $22.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. JMP Securities reissued a “market perform” rating on shares of Upstart in a report on Wednesday, April 17th. Finally, Mizuho lifted their target price on Upstart from $19.00 to $23.00 and gave the stock an “underperform” rating in a report on Thursday, January 18th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.00.

Upstart Price Performance

NASDAQ:UPST traded up $1.50 during trading hours on Wednesday, reaching $23.63. The company had a trading volume of 3,774,018 shares, compared to its average volume of 6,516,367. The firm has a market cap of $2.07 billion, a PE ratio of -8.22 and a beta of 1.94. Upstart Holdings, Inc. has a 1-year low of $11.93 and a 1-year high of $72.58. The business’s 50 day moving average price is $24.82 and its 200-day moving average price is $29.31.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, February 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.05. Upstart had a negative net margin of 46.76% and a negative return on equity of 35.47%. The firm had revenue of $140.31 million during the quarter, compared to analysts’ expectations of $135.28 million. On average, analysts expect that Upstart Holdings, Inc. will post -2.19 earnings per share for the current fiscal year.

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.