G2 Investment Partners Management LLC Takes Position in Upstart Holdings, Inc. $UPST

by · The Cerbat Gem

G2 Investment Partners Management LLC bought a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 67,500 shares of the company’s stock, valued at approximately $4,366,000. G2 Investment Partners Management LLC owned approximately 0.07% of Upstart as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Upstart during the 2nd quarter worth approximately $67,777,000. Mane Global Capital Management LP acquired a new stake in shares of Upstart in the second quarter worth approximately $43,576,000. Invesco Ltd. increased its position in shares of Upstart by 79.0% during the first quarter. Invesco Ltd. now owns 1,270,352 shares of the company’s stock worth $58,474,000 after purchasing an additional 560,668 shares in the last quarter. Driehaus Capital Management LLC increased its position in shares of Upstart by 71.5% during the first quarter. Driehaus Capital Management LLC now owns 1,215,237 shares of the company’s stock worth $55,937,000 after purchasing an additional 506,787 shares in the last quarter. Finally, Rokos Capital Management LLP acquired a new position in Upstart in the 2nd quarter valued at $31,012,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Upstart news, CTO Paul Gu bought 100,000 shares of Upstart stock in a transaction on Tuesday, November 11th. The shares were bought at an average price of $39.23 per share, for a total transaction of $3,923,000.00. Following the completion of the transaction, the chief technology officer directly owned 80,000 shares of the company’s stock, valued at $3,138,400. This trade represents a -500.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Sanjay Datta sold 13,624 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $36.58, for a total value of $498,365.92. Following the completion of the transaction, the chief financial officer directly owned 284,280 shares in the company, valued at approximately $10,398,962.40. This trade represents a 4.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 56,874 shares of company stock worth $3,263,519 in the last three months. 16.67% of the stock is owned by insiders.

Analysts Set New Price Targets

UPST has been the topic of several recent research reports. Needham & Company LLC lowered their target price on shares of Upstart from $82.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Morgan Stanley set a $45.00 price target on shares of Upstart in a research report on Wednesday, November 5th. Citigroup dropped their price objective on shares of Upstart from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Bank of America cut their price objective on shares of Upstart from $81.00 to $71.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, Stephens lowered their target price on Upstart from $55.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.50.

View Our Latest Research Report on Upstart

Upstart Price Performance

Shares of UPST stock opened at $49.35 on Friday. The firm’s 50-day moving average is $45.42 and its two-hundred day moving average is $58.77. Upstart Holdings, Inc. has a 12 month low of $31.40 and a 12 month high of $96.43. The company has a market capitalization of $4.80 billion, a PE ratio of 224.33 and a beta of 2.27.

Upstart (NASDAQ:UPST – Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.10. The business had revenue of $258.54 million during the quarter, compared to analysts’ expectations of $288.94 million. Upstart had a net margin of 3.33% and a return on equity of 3.68%. The business’s revenue for the quarter was up 70.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) EPS. Sell-side analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Upstart Company Profile

(Free Report)

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.

See Also

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