Olympiad Research LP Invests $346,000 in Upstart Holdings, Inc. (NASDAQ:UPST)

Olympiad Research LP purchased a new position in Upstart Holdings, Inc. (NASDAQ:UPST) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,660 shares of the company’s stock, valued at approximately $346,000.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Upstart by 1.6% in the first quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock worth $191,698,000 after purchasing an additional 115,057 shares in the last quarter. Liontrust Investment Partners LLP boosted its holdings in Upstart by 26.1% in the second quarter. Liontrust Investment Partners LLP now owns 290,000 shares of the company’s stock worth $6,841,000 after purchasing an additional 60,000 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Upstart by 15.3% in the second quarter. Bank of New York Mellon Corp now owns 272,430 shares of the company’s stock worth $6,427,000 after purchasing an additional 36,206 shares in the last quarter. Millennium Management LLC boosted its holdings in Upstart by 1,792.9% in the second quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock worth $6,190,000 after purchasing an additional 277,896 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Upstart by 4,087.8% in the third quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock worth $9,333,000 after purchasing an additional 227,688 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on UPST. Citigroup upgraded shares of Upstart from a “sell” rating to a “neutral” rating and upped their price target for the company from $15.00 to $33.00 in a report on Wednesday, August 7th. Barclays upped their price target on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Mizuho upped their price target on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Piper Sandler upped their price target on shares of Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Upstart has an average rating of “Hold” and a consensus price target of $31.50.

Upstart Price Performance

NASDAQ:UPST opened at $55.47 on Friday. Upstart Holdings, Inc. has a 12-month low of $19.84 and a 12-month high of $57.40. The firm has a 50-day moving average price of $43.56 and a 200 day moving average price of $32.83.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.22. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The business had revenue of $127.63 million for the quarter, compared to the consensus estimate of $124.55 million. During the same period in the previous year, the business earned ($0.34) EPS. Upstart’s revenue was down 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that Upstart Holdings, Inc. will post -2.39 EPS for the current year.

Insiders Place Their Bets

In other Upstart news, insider Natalia Mirgorodskaya sold 1,264 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $38.36, for a total transaction of $48,487.04. Following the sale, the insider now owns 24,557 shares of the company’s stock, valued at $942,006.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $53.81, for a total value of $80,715.00. Following the transaction, the chief financial officer now owns 335,593 shares of the company’s stock, valued at approximately $18,058,259.33. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,264 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $38.36, for a total transaction of $48,487.04. Following the completion of the transaction, the insider now directly owns 24,557 shares in the company, valued at $942,006.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,959 shares of company stock valued at $13,724,175 in the last 90 days. 18.06% of the stock is currently owned by insiders.

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.