Upstart Holdings, Inc. (NASDAQ:UPST) Position Boosted by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in Upstart Holdings, Inc. (NASDAQ:UPST) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,013,918 shares of the company’s stock after buying an additional 157,719 shares during the quarter. Vanguard Group Inc. owned about 0.08% of Upstart worth $286,589,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Upstart by 0.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,018,354 shares of the company’s stock valued at $41,610,000 after purchasing an additional 5,875 shares in the last quarter. Northern Trust Corp boosted its stake in Upstart by 1.1% during the 3rd quarter. Northern Trust Corp now owns 718,745 shares of the company’s stock valued at $20,513,000 after purchasing an additional 8,091 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Upstart by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 573,176 shares of the company’s stock valued at $23,420,000 after purchasing an additional 17,463 shares in the last quarter. Norges Bank bought a new position in Upstart during the 4th quarter valued at $19,017,000. Finally, International Assets Investment Management LLC boosted its stake in Upstart by 3,532.7% during the 4th quarter. International Assets Investment Management LLC now owns 329,740 shares of the company’s stock valued at $13,473,000 after purchasing an additional 320,663 shares in the last quarter. 63.01% of the stock is owned by institutional investors.

Upstart Stock Down 0.1 %

UPST opened at $23.59 on Friday. The stock has a fifty day moving average of $24.04 and a 200-day moving average of $28.50. The firm has a market capitalization of $2.07 billion, a P/E ratio of -11.45 and a beta of 2.01. Upstart Holdings, Inc. has a 12-month low of $19.84 and a 12-month high of $72.58.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.06. The company had revenue of $127.79 million during the quarter, compared to analyst estimates of $124.82 million. Upstart had a negative return on equity of 27.89% and a negative net margin of 32.59%. On average, analysts expect that Upstart Holdings, Inc. will post -2.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on UPST shares. Piper Sandler reaffirmed a “neutral” rating and set a $28.00 price target on shares of Upstart in a research note on Tuesday, March 19th. Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a research report on Wednesday, May 8th. Bank of America started coverage on Upstart in a research report on Thursday, April 4th. They set an “underperform” rating and a $22.00 price objective for the company. BTIG Research started coverage on Upstart in a research report on Friday, June 7th. They set a “sell” rating and a $14.00 price objective for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of Upstart in a research report on Wednesday, April 17th. Six research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Upstart presently has a consensus rating of “Hold” and an average price target of $21.65.

Insider Buying and Selling

In related news, CFO Sanjay Datta sold 1,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $25.49, for a total transaction of $25,490.00. Following the completion of the sale, the chief financial officer now directly owns 380,398 shares in the company, valued at $9,696,345.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Sanjay Datta sold 1,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $25.49, for a total transaction of $25,490.00. Following the completion of the sale, the chief financial officer now directly owns 380,398 shares in the company, valued at $9,696,345.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Dave Girouard sold 2,997 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $25.62, for a total value of $76,783.14. Following the sale, the chief executive officer now owns 64,873 shares of the company’s stock, valued at $1,662,046.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 200,610 shares of company stock worth $5,476,953. Corporate insiders own 18.06% of the company’s stock.

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.