Creative Planning Cuts Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

Creative Planning lessened its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 11.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 23,138 shares of the company’s stock after selling 3,031 shares during the quarter. Creative Planning’s holdings in Upstart were worth $926,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UPST. Millennium Management LLC grew its stake in Upstart by 1,792.9% in the second quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock valued at $6,190,000 after purchasing an additional 277,896 shares during the last quarter. Seven Eight Capital LP grew its stake in Upstart by 349.1% in the first quarter. Seven Eight Capital LP now owns 189,385 shares of the company’s stock valued at $5,093,000 after purchasing an additional 147,213 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Upstart by 442.1% in the second quarter. SG Americas Securities LLC now owns 148,214 shares of the company’s stock worth $3,496,000 after acquiring an additional 120,871 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Upstart by 1.6% in the first quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock worth $191,698,000 after acquiring an additional 115,057 shares in the last quarter. Finally, Magnetar Financial LLC boosted its holdings in Upstart by 1,106.7% in the first quarter. Magnetar Financial LLC now owns 97,281 shares of the company’s stock worth $2,616,000 after acquiring an additional 89,219 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

UPST has been the subject of several recent analyst reports. Wedbush raised Upstart from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $10.00 to $45.00 in a report on Monday, October 14th. Mizuho raised their price target on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Barclays raised their price target on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Citigroup raised Upstart from a “sell” rating to a “neutral” rating and raised their price target for the stock from $15.00 to $33.00 in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on Upstart from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.50.

Insider Activity at Upstart

In related news, CTO Paul Gu sold 10,000 shares of Upstart stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $40.01, for a total transaction of $400,100.00. Following the completion of the transaction, the chief technology officer now directly owns 894,629 shares in the company, valued at approximately $35,794,106.29. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Dave Girouard sold 3,361 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total value of $128,894.35. Following the completion of the sale, the chief executive officer now directly owns 61,512 shares in the company, valued at $2,358,985.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Paul Gu sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $40.01, for a total value of $400,100.00. Following the completion of the sale, the chief technology officer now owns 894,629 shares of the company’s stock, valued at $35,794,106.29. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,959 shares of company stock worth $13,745,155. 18.06% of the stock is owned by corporate insiders.

Upstart Trading Down 0.4 %

Shares of UPST stock opened at $48.48 on Friday. The stock has a 50 day moving average of $43.11 and a 200 day moving average of $32.17. The stock has a market cap of $4.34 billion, a P/E ratio of -20.72 and a beta of 2.01. Upstart Holdings, Inc. has a twelve month low of $19.84 and a twelve month high of $57.40.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.22. The company had revenue of $127.63 million during the quarter, compared to analysts’ expectations of $124.55 million. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. Upstart’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period last year, the business earned ($0.34) earnings per share. On average, research analysts predict that Upstart Holdings, Inc. will post -2.39 earnings per share for the current fiscal year.

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.