Bank Julius Baer & Co. Ltd Zurich Makes New Investment in Upstart Holdings, Inc. (NASDAQ:UPST)

Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,605 shares of the company’s stock, valued at approximately $109,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fred Alger Management LLC boosted its holdings in shares of Upstart by 153.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock valued at $49,886,000 after buying an additional 754,416 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Upstart by 689.5% in the 3rd quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock valued at $23,566,000 after buying an additional 514,400 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Upstart by 1,413.7% in the 3rd quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock valued at $13,342,000 after buying an additional 311,434 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Upstart by 63.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock valued at $29,031,000 after buying an additional 282,481 shares in the last quarter. Finally, Quantbot Technologies LP boosted its holdings in shares of Upstart by 416.3% in the 3rd quarter. Quantbot Technologies LP now owns 98,158 shares of the company’s stock valued at $3,927,000 after buying an additional 79,146 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wedbush upped their price target on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Needham & Company LLC upped their price target on shares of Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Morgan Stanley upgraded shares of Upstart from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $12.00 to $70.00 in a research report on Friday, February 14th. Citigroup upped their price target on shares of Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Redburn Atlantic upgraded shares of Upstart from a “neutral” rating to a “buy” rating and upped their price target for the company from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Upstart currently has an average rating of “Hold” and a consensus target price of $73.38.

Insider Activity

In other news, CEO Dave Girouard sold 41,667 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total value of $2,608,354.20. Following the completion of the transaction, the chief executive officer now owns 57,138 shares in the company, valued at $3,576,838.80. This trade represents a 42.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sanjay Datta sold 16,070 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the completion of the transaction, the chief financial officer now owns 295,537 shares of the company’s stock, valued at $23,353,333.74. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,062 shares of company stock worth $5,247,182 in the last 90 days. 18.06% of the stock is currently owned by corporate insiders.

Upstart Stock Performance

Shares of Upstart stock opened at $46.65 on Wednesday. The company has a market cap of $4.37 billion, a P/E ratio of -31.95 and a beta of 2.25. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $96.43. The firm has a fifty day moving average of $65.91 and a two-hundred day moving average of $59.44.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. As a group, equities analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Upstart 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.