ProShare Advisors LLC Buys 6,552 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

ProShare Advisors LLC raised its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 49.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 19,894 shares of the company’s stock after acquiring an additional 6,552 shares during the quarter. ProShare Advisors LLC’s holdings in Upstart were worth $469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its position in shares of Upstart by 96.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,420 shares of the company’s stock valued at $81,000 after buying an additional 1,677 shares during the last quarter. Seven Eight Capital LP raised its stake in Upstart by 18.1% in the 2nd quarter. Seven Eight Capital LP now owns 223,608 shares of the company’s stock valued at $5,275,000 after acquiring an additional 34,223 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in Upstart by 9.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 27,049 shares of the company’s stock valued at $635,000 after purchasing an additional 2,370 shares during the last quarter. WINTON GROUP Ltd bought a new position in Upstart during the second quarter worth about $841,000. Finally, Inspire Advisors LLC increased its stake in shares of Upstart by 3.0% in the second quarter. Inspire Advisors LLC now owns 16,623 shares of the company’s stock worth $392,000 after purchasing an additional 480 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Upstart Stock Down 2.1 %

Shares of NASDAQ UPST opened at $40.01 on Tuesday. The firm has a market capitalization of $3.58 billion, a P/E ratio of -19.42 and a beta of 2.03. The stock’s 50-day simple moving average is $35.52 and its two-hundred day simple moving average is $28.49. Upstart Holdings, Inc. has a twelve month low of $19.84 and a twelve month 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, beating analysts’ consensus estimates of ($0.39) by $0.22. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. The business had revenue of $127.63 million for the quarter, compared to the consensus estimate of $124.55 million. During the same period last year, the firm posted ($0.34) earnings per share. Upstart’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, research analysts anticipate that Upstart Holdings, Inc. will post -2.39 EPS for the current fiscal year.

Insider Transactions at Upstart

In related news, CTO Paul Gu sold 45,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $40.86, for a total value of $1,838,700.00. Following the transaction, the chief technology officer now owns 878,565 shares of the company’s stock, valued at $35,898,165.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Upstart news, CTO Paul Gu sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $40.86, for a total value of $1,838,700.00. Following the completion of the sale, the chief technology officer now owns 878,565 shares of the company’s stock, valued at $35,898,165.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chief Legal Officer Scott Darling sold 9,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $45.00, for a total transaction of $405,000.00. Following the transaction, the insider now owns 164,870 shares in the company, valued at $7,419,150. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,459 shares of company stock valued at $5,939,414. Insiders own 18.06% of the company’s stock.

Analyst Upgrades and Downgrades

UPST has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on shares of Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a research note on Tuesday, August 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. Wedbush reiterated an “underperform” rating and set a $10.00 price objective on shares of Upstart in a research note on Wednesday, August 7th. Redburn Atlantic upgraded Upstart from a “sell” rating to a “neutral” rating and raised their target price for the stock from $22.50 to $25.50 in a research note on Tuesday, June 4th. Finally, Piper Sandler upped their price target on Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.61.

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.