Corient Private Wealth LP Acquires New Holdings in Upstart Holdings, Inc. $UPST

Corient Private Wealth LP acquired a new position in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,528 shares of the company's stock, valued at approximately $2,074,000. Corient Private Wealth LP owned 0.06% of Upstart as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Amundi acquired a new stake in shares of Upstart in the 2nd quarter worth approximately $348,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Upstart during the second quarter worth approximately $425,000. Ameritas Advisory Services LLC bought a new stake in Upstart during the second quarter worth approximately $111,000. EMC Capital Management acquired a new stake in Upstart in the second quarter worth approximately $234,000. Finally, Headlands Technologies LLC lifted its position in Upstart by 42.5% in the second quarter. Headlands Technologies LLC now owns 113,300 shares of the company's stock worth $4,014,000 after purchasing an additional 33,799 shares during the period. Institutional investors own 63.01% of the company's stock.

Insider Buying and Selling at Upstart

In other Upstart news, CEO Paul Gu purchased 50,000 shares of the business's stock in a transaction dated Thursday, September 10th. The shares were acquired at an average price of $25.55 per share, for a total transaction of $1,277,500.00. Following the acquisition, the chief executive officer owned 130,000 shares of the company's stock, valued at $3,321,500. This trade represents a 62.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Sanjay Datta sold 116,000 shares of Upstart stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $27.29, for a total transaction of $3,165,640.00. Following the completion of the sale, the insider directly owned 476,578 shares of the company's stock, valued at approximately $13,005,813.62. The trade was a 19.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 148,652 shares of company stock valued at $4,133,720. 17.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on UPST. Wall Street Zen upgraded Upstart from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings raised Upstart from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, September 14th. Loop Capital assumed coverage on Upstart in a research note on Tuesday, September 8th. They set a "hold" rating and a $34.00 target price for the company. The Goldman Sachs Group lifted their target price on Upstart from $32.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, Citigroup dropped their price target on shares of Upstart from $80.00 to $61.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $43.75.

Upstart Price Performance

Shares of NASDAQ UPST opened at $24.45 on Thursday. Upstart Holdings, Inc. has a one year low of $23.97 and a one year high of $64.15. The business's 50-day moving average price is $28.26 and its two-hundred day moving average price is $29.50. The company has a market capitalization of $2.38 billion, a P/E ratio of 49.90, a price-to-earnings-growth ratio of 0.92 and a beta of 2.16.

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

Upstart Company Profile

Upstart Holdings, Inc is a financial technology company that operates an artificial intelligence-powered lending marketplace. Its platform connects consumers seeking credit with banks and credit unions, using alternative data and machine-learning models alongside traditional credit information to help lending partners evaluate applicants and originate loans.

The company's offerings include technology for personal lending, auto lending and home equity lending. Upstart provides tools that support the application, underwriting and loan-origination process, while participating financial institutions generally fund and service the loans.

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