273,245 Shares in Upstart Holdings, Inc. $UPST Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon purchased 273,245 Upstart shares worth approximately $9.68 million, giving it a 0.29% stake. Institutional investors collectively own 63.01% of the company.
• Upstart’s latest quarterly results showed revenue growth of 41.9% year over year to $364.71 million, though earnings per share of $0.16 fell short of estimates.
• UPST shares opened at $28.17, with analysts holding a consensus “Hold” rating and an average price target of $44.40; insiders sold shares primarily to cover tax obligations.

Bank of New York Mellon Corp purchased a new stake in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 273,245 shares of the company's stock, valued at approximately $9,681,000. Bank of New York Mellon Corp owned approximately 0.29% of Upstart as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jericho Capital Asset Management L.P. raised its position in Upstart by 11.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 5,011,809 shares of the company's stock worth $219,166,000 after purchasing an additional 531,000 shares during the last quarter. Morgan Stanley boosted its position in Upstart by 154.6% during the 4th quarter. Morgan Stanley now owns 4,206,615 shares of the company's stock valued at $183,955,000 after buying an additional 2,554,591 shares during the period. Geode Capital Management LLC boosted its position in Upstart by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,068,515 shares of the company's stock valued at $90,469,000 after buying an additional 26,734 shares during the period. Halter Ferguson Financial Inc. grew its stake in shares of Upstart by 253.3% in the first quarter. Halter Ferguson Financial Inc. now owns 1,467,360 shares of the company's stock worth $37,638,000 after purchasing an additional 1,052,039 shares during the last quarter. Finally, Norges Bank purchased a new stake in Upstart in the 4th quarter worth approximately $49,915,000. Institutional investors own 63.01% of the company's stock.

Insiders Place Their Bets

In related news, insider Sanjay Datta sold 8,945 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $28.09, for a total transaction of $251,265.05. Following the transaction, the insider directly owned 292,578 shares of the company's stock, valued at approximately $8,218,516.02. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrea Blankmeyer sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $29.33, for a total transaction of $87,990.00. Following the completion of the transaction, the chief financial officer owned 152,208 shares in the company, valued at approximately $4,464,260.64. This represents a 1.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 47,652 shares of company stock worth $1,424,230. Company insiders own 17.29% of the company's stock.

Upstart Trading Up 2.8%

Shares of NASDAQ:UPST opened at $28.17 on Thursday. The firm has a market cap of $2.74 billion, a PE ratio of 57.49, a price-to-earnings-growth ratio of 0.96 and a beta of 2.16. The company has a fifty day simple moving average of $30.50 and a 200 day simple moving average of $29.84. Upstart Holdings, Inc. has a 12-month low of $23.97 and a 12-month high of $71.38.

Upstart (NASDAQ:UPST - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The company had revenue of $364.71 million for the quarter, compared to analyst estimates of $354.74 million. Upstart had a return on equity of 7.13% and a net margin of 4.84%.Upstart's revenue was up 41.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 earnings per share. As a group, equities research analysts forecast that Upstart Holdings, Inc. will post 0.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on UPST. Wall Street Zen raised Upstart from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Piper Sandler boosted their price target on shares of Upstart from $46.00 to $51.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Truist Financial set a $40.00 price objective on Upstart in a research report on Wednesday, May 6th. B. Riley Financial reduced their target price on Upstart from $66.00 to $54.00 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Finally, BTIG Research reissued a "buy" rating and issued a $43.00 target price on shares of Upstart in a research report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Upstart has a consensus rating of "Hold" and an average price target of $44.40.

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.

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