Mercer Global Advisors Inc. ADV Acquires 2,370 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Mercer Global Advisors Inc. ADV lifted its holdings in Upstart Holdings, Inc. (NASDAQ:UPST) by 9.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,049 shares of the company’s stock after purchasing an additional 2,370 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Upstart were worth $635,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Anfield Capital Management LLC acquired a new stake in Upstart in the 2nd quarter valued at $33,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Upstart by 80.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after acquiring an additional 778 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Upstart by 259.0% in the second quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock valued at $52,000 after acquiring an additional 1,590 shares during the last quarter. Comerica Bank raised its holdings in Upstart by 144.0% during the first quarter. Comerica Bank now owns 2,313 shares of the company’s stock worth $62,000 after acquiring an additional 1,365 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Upstart by 18.2% during the second quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock valued at $63,000 after purchasing an additional 409 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wedbush reaffirmed an “underperform” rating and set a $10.00 price target on shares of Upstart in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Upstart from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Redburn Atlantic upgraded shares of Upstart from a “sell” rating to a “neutral” rating and increased their price target for the company from $22.50 to $25.50 in a research note on Tuesday, June 4th. BTIG Research began coverage on shares of Upstart in a research note on Friday, June 7th. They set a “sell” rating and a $14.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Upstart currently has an average rating of “Hold” and a consensus target price of $27.61.

Insiders Place Their Bets

In other news, insider Natalia Mirgorodskaya sold 1,264 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $38.36, for a total value of $48,487.04. Following the completion of the sale, the insider now owns 24,557 shares of the company’s stock, valued at $942,006.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Dave Girouard sold 3,361 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total transaction of $128,894.35. Following the sale, the chief executive officer now owns 61,512 shares of the company’s stock, valued at $2,358,985.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Natalia Mirgorodskaya sold 1,264 shares of Upstart stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $38.36, for a total value of $48,487.04. Following the completion of the transaction, the insider now directly owns 24,557 shares of the company’s stock, valued at $942,006.52. The disclosure for this sale can be found here. Insiders have sold 161,459 shares of company stock worth $6,080,644 in the last 90 days. Company insiders own 18.06% of the company’s stock.

Upstart Stock Performance

Shares of UPST opened at $40.85 on Friday. The firm’s 50-day simple moving average is $35.28 and its 200 day simple moving average is $28.33. The firm has a market cap of $3.66 billion, a P/E ratio of -19.83 and a beta of 2.03. Upstart Holdings, Inc. has a 52 week low of $19.84 and a 52 week high of $49.62.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.22. The company had revenue of $127.63 million for the quarter, compared to analyst estimates of $124.55 million. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.34) earnings per share. As a group, equities analysts forecast that Upstart Holdings, Inc. will post -2.39 earnings per share for the current year.

Upstart 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.