Zurcher Kantonalbank Zurich Cantonalbank Purchases 3,209 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 19.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,693 shares of the company’s stock after acquiring an additional 3,209 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Upstart were worth $1,212,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in shares of Upstart in the third quarter worth about $939,000. Quadrature Capital Ltd purchased a new stake in Upstart in the 3rd quarter worth approximately $676,000. Connor Clark & Lunn Investment Management Ltd. grew its position 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 worth $29,031,000 after buying an additional 282,481 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Upstart during the fourth quarter valued at approximately $2,057,000. Finally, Two Sigma Advisers LP raised its holdings in shares of Upstart by 689.5% during the third quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock valued at $23,566,000 after acquiring an additional 514,400 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Redburn Atlantic upgraded shares of Upstart from a “neutral” rating to a “buy” rating and lifted their price target for the company from $37.00 to $95.00 in a report on Tuesday, December 3rd. Barclays boosted their price target on shares of Upstart from $80.00 to $93.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 18th. Wedbush raised their price objective on shares of Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $57.00 to $79.00 in a report on Wednesday, February 12th. Finally, Citigroup raised their target price on Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Upstart currently has a consensus rating of “Hold” and an average target price of $73.38.

Upstart Stock Performance

NASDAQ:UPST opened at $51.00 on Thursday. The firm has a market cap of $4.78 billion, a P/E ratio of -34.93 and a beta of 2.25. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43. The firm has a 50-day simple moving average of $64.39 and a two-hundred day simple moving average of $59.58.

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

Insider Transactions at Upstart

In other Upstart news, CEO Dave Girouard sold 4,524 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.01, for a total value of $357,441.24. Following the completion of the transaction, the chief executive officer now owns 52,614 shares of the company’s stock, valued at approximately $4,157,032.14. The trade was a 7.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Natalia Mirgorodskaya sold 794 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $62,741.88. Following the sale, the insider now directly owns 21,985 shares in the company, valued at approximately $1,737,254.70. The trade was a 3.49 % 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 over the last quarter. 18.06% of the stock is currently owned by insiders.

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.