Jericho Capital Asset Management L.P. Boosts Stock Holdings in Upstart Holdings, Inc. $UPST

Jericho Capital Asset Management L.P. lifted its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 22.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,480,809 shares of the company’s stock after buying an additional 826,974 shares during the quarter. Upstart comprises approximately 2.4% of Jericho Capital Asset Management L.P.’s investment portfolio, making the stock its 17th largest position. Jericho Capital Asset Management L.P.’s holdings in Upstart were worth $227,625,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Upstart by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,009,116 shares of the company’s stock valued at $129,965,000 after acquiring an additional 73,582 shares in the last quarter. Norges Bank purchased a new stake in Upstart during the 2nd quarter valued at $67,777,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Upstart by 31.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 971,856 shares of the company’s stock worth $49,370,000 after purchasing an additional 232,595 shares in the last quarter. Mane Global Capital Management LP bought a new stake in shares of Upstart in the 2nd quarter worth $43,576,000. Finally, Clear Street Group Inc. purchased a new position in shares of Upstart in the third quarter worth $29,018,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Upstart Price Performance

UPST stock opened at $26.36 on Monday. The company has a market cap of $2.58 billion, a P/E ratio of 62.76, a price-to-earnings-growth ratio of 0.68 and a beta of 2.44. Upstart Holdings, Inc. has a 1 year low of $25.60 and a 1 year high of $87.30. The stock’s fifty day moving average price is $37.28 and its 200-day moving average price is $46.10.

Upstart (NASDAQ:UPST) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The company had revenue of $296.09 million during the quarter, compared to analyst estimates of $288.54 million. Upstart had a return on equity of 6.30% and a net margin of 5.13%.During the same quarter in the previous year, the company posted $0.26 earnings per share. Upstart’s revenue was up 35.2% compared to the same quarter last year. As a group, analysts expect that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Upstart declared that its board has initiated a share repurchase program on Thursday, February 19th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on UPST shares. Zacks Research downgraded Upstart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Citizens Jmp reiterated a “market underperform” rating and issued a $20.00 price objective on shares of Upstart in a report on Friday, February 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Upstart in a research report on Monday, December 29th. The Goldman Sachs Group upgraded shares of Upstart from a “sell” rating to a “neutral” rating and lowered their target price for the company from $44.00 to $35.00 in a research note on Friday, February 13th. Finally, BTIG Research raised shares of Upstart from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Monday. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $47.77.

Insider Activity

In other Upstart news, CFO Sanjay Datta sold 7,982 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $29.86, for a total transaction of $238,342.52. Following the completion of the sale, the chief financial officer directly owned 276,688 shares in the company, valued at $8,261,903.68. The trade was a 2.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 9,481 shares of company stock worth $282,201. Insiders own 16.67% of the company’s stock.

Upstart Company Profile

Upstart Holdings, Inc operates a cloud-based lending marketplace that leverages artificial intelligence and machine learning to assess borrower creditworthiness. The company partners with banks and credit unions, providing its proprietary AI models and underwriting platform to facilitate consumer credit products. By focusing on non‐traditional data points—such as education, employment history and other real‐time indicators—Upstart seeks to improve approval rates and lower loss rates compared with conventional credit scoring methods.

Upstart’s core offering centers on unsecured personal loans, which borrowers can use for purposes such as debt consolidation, home improvements or major purchases.