Zurcher Kantonalbank Zurich Cantonalbank Has $629,000 Stock Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 15.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,400 shares of the company’s stock after acquiring an additional 2,044 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Upstart were worth $629,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. CWM LLC boosted its position in Upstart by 56.5% during the 3rd quarter. CWM LLC now owns 1,169 shares of the company’s stock worth $33,000 after buying an additional 422 shares during the period. Strs Ohio bought a new stake in Upstart in the fourth quarter valued at approximately $57,000. DekaBank Deutsche Girozentrale acquired a new stake in Upstart during the 3rd quarter valued at approximately $51,000. EMC Capital Management bought a new position in Upstart during the 3rd quarter worth approximately $106,000. Finally, AdvisorNet Financial Inc lifted its position in shares of Upstart by 24.0% in the 4th quarter. AdvisorNet Financial Inc now owns 5,165 shares of the company’s stock worth $211,000 after purchasing an additional 1,000 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Upstart Trading Up 3.3 %

Shares of UPST stock opened at $22.87 on Thursday. Upstart Holdings, Inc. has a 12 month low of $11.93 and a 12 month high of $72.58. The firm has a market capitalization of $2.01 billion, a PE ratio of -7.89 and a beta of 1.94. The firm has a fifty day simple moving average of $24.82 and a two-hundred day simple moving average of $29.31.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.05. Upstart had a negative return on equity of 35.47% and a negative net margin of 46.76%. The business had revenue of $140.31 million during the quarter, compared to the consensus estimate of $135.28 million. On average, equities analysts predict that Upstart Holdings, Inc. will post -2.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UPST. JPMorgan Chase & Co. lowered their target price on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Wednesday, February 14th. Mizuho upped their target price on Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a research report on Thursday, January 18th. JMP Securities reiterated a “market perform” rating on shares of Upstart in a report on Wednesday, April 17th. Piper Sandler restated a “neutral” rating and set a $28.00 price target on shares of Upstart in a report on Tuesday, March 19th. Finally, Bank of America assumed coverage on shares of Upstart in a research note on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.00.

Insider Buying and Selling at Upstart

In other news, CTO Paul Gu sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $26.31, for a total value of $1,578,600.00. Following the transaction, the chief technology officer now owns 893,596 shares in the company, valued at approximately $23,510,510.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Natalia Mirgorodskaya sold 1,919 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $24.30, for a total transaction of $46,631.70. Following the completion of the transaction, the insider now owns 28,246 shares in the company, valued at $686,377.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Paul Gu sold 60,000 shares of Upstart stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $26.31, for a total transaction of $1,578,600.00. Following the completion of the sale, the chief technology officer now directly owns 893,596 shares in the company, valued at approximately $23,510,510.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,419 shares of company stock worth $1,750,272. Insiders own 18.06% of the company’s stock.

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.