Artemis Investment Management LLP Purchases 289,854 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Artemis Investment Management LLP raised its position in shares of Upstart Holdings, Inc. (NASDAQ:UPSTGet Rating) by 84.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 632,025 shares of the company’s stock after acquiring an additional 289,854 shares during the period. Artemis Investment Management LLP owned approximately 0.75% of Upstart worth $68,826,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of Upstart in the fourth quarter valued at approximately $516,000. Lazard Asset Management LLC boosted its stake in shares of Upstart by 240.2% in the fourth quarter. Lazard Asset Management LLC now owns 1,701 shares of the company’s stock valued at $257,000 after buying an additional 1,201 shares during the period. Nordea Investment Management AB boosted its stake in shares of Upstart by 7,328.6% in the first quarter. Nordea Investment Management AB now owns 121,161 shares of the company’s stock valued at $13,891,000 after buying an additional 119,530 shares during the period. Liontrust Investment Partners LLP boosted its stake in shares of Upstart by 40.5% in the fourth quarter. Liontrust Investment Partners LLP now owns 52,000 shares of the company’s stock valued at $7,868,000 after buying an additional 15,000 shares during the period. Finally, Private Advisor Group LLC boosted its stake in shares of Upstart by 33.8% in the fourth quarter. Private Advisor Group LLC now owns 3,575 shares of the company’s stock valued at $541,000 after buying an additional 904 shares during the period. Institutional investors own 59.65% of the company’s stock.

In other news, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $3,333,360.00. Following the completion of the transaction, the chief executive officer now directly owns 87,114 shares of the company’s stock, valued at approximately $6,969,120. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Alison Nicoll sold 15,000 shares of Upstart stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $40.31, for a total value of $604,650.00. Following the completion of the transaction, the general counsel now directly owns 412,983 shares of the company’s stock, valued at $16,647,344.73. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,050 shares of company stock valued at $7,845,894. 18.87% of the stock is owned by corporate insiders.

NASDAQ UPST opened at $32.82 on Friday. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 20.01 and a beta of 1.23. Upstart Holdings, Inc. has a twelve month low of $25.43 and a twelve month high of $401.49. The stock has a fifty day simple moving average of $49.14 and a 200 day simple moving average of $92.52.

Upstart (NASDAQ:UPSTGet Rating) last announced its earnings results on Monday, May 9th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.09. The business had revenue of $310.14 million during the quarter, compared to analyst estimates of $300.13 million. Upstart had a return on equity of 20.27% and a net margin of 15.23%. Upstart’s revenue for the quarter was up 155.6% compared to the same quarter last year. During the same period last year, the company earned $0.12 EPS. Sell-side analysts anticipate that Upstart Holdings, Inc. will post 0.51 earnings per share for the current year.

UPST has been the subject of several recent research reports. FBN Securities started coverage on Upstart in a research note on Tuesday, April 12th. They issued an “outperform” rating and a $150.00 price target for the company. Stephens cut Upstart from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $124.00 to $28.00 in a research note on Tuesday, May 10th. Barclays cut Upstart from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, May 11th. Morgan Stanley cut Upstart from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $88.00 to $19.00 in a research note on Wednesday. Finally, Citigroup cut Upstart from a “buy” rating to a “neutral” rating and cut their target price for the stock from $180.00 to $50.00 in a research note on Tuesday, May 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Upstart currently has an average rating of “Hold” and a consensus price target of $92.46.

Upstart Company Profile (Get Rating)

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform aggregates consumer demand for loans and connects it to its network of the company's AI-enabled bank partners. The company was founded in 2012 and is headquartered in San Mateo, California.

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Institutional Ownership by Quarter for Upstart (NASDAQ:UPST)

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