Edgestream Partners L.P. Takes Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Edgestream Partners L.P. bought a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 74,077 shares of the company's stock, valued at approximately $3,410,000. Edgestream Partners L.P. owned about 0.08% of Upstart at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of Upstart by 211.0% during the 1st quarter. CWM LLC now owns 4,152 shares of the company's stock valued at $191,000 after purchasing an additional 2,817 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Upstart by 4.1% during the 1st quarter. New York State Common Retirement Fund now owns 25,526 shares of the company's stock valued at $1,175,000 after purchasing an additional 1,004 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Upstart by 6.7% during the 1st quarter. Arizona State Retirement System now owns 23,530 shares of the company's stock valued at $1,083,000 after purchasing an additional 1,469 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Upstart by 6.9% during the 1st quarter. Xponance Inc. now owns 6,171 shares of the company's stock valued at $284,000 after purchasing an additional 401 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of Upstart by 76.3% during the 1st quarter. Cerity Partners LLC now owns 6,419 shares of the company's stock valued at $295,000 after purchasing an additional 2,779 shares in the last quarter. Institutional investors own 63.01% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Bank of America raised Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 target price on the stock in a research report on Tuesday, April 29th. The Goldman Sachs Group raised Upstart to a "sell" rating and set a $71.00 target price on the stock in a research report on Monday. Stephens assumed coverage on Upstart in a research report on Thursday, June 12th. They issued an "equal weight" rating and a $55.00 target price on the stock. Piper Sandler raised Upstart to an "overweight" rating and set a $75.00 target price on the stock in a research report on Tuesday, June 24th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $70.00 target price on shares of Upstart in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Upstart has an average rating of "Hold" and a consensus price target of $71.62.

Upstart Stock Up 1.0%

Shares of NASDAQ UPST traded up $0.78 during midday trading on Friday, hitting $78.36. 3,900,519 shares of the company's stock were exchanged, compared to its average volume of 6,855,489. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $96.43. The company's 50 day moving average price is $58.76 and its 200 day moving average price is $57.24. The firm has a market capitalization of $7.46 billion, a PE ratio of -104.48 and a beta of 2.37.

Upstart (NASDAQ:UPST - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.19 by $0.11. Upstart had a negative return on equity of 15.27% and a negative net margin of 9.20%. The company had revenue of $213.37 million during the quarter, compared to the consensus estimate of $201.08 million. During the same period in the previous year, the company posted ($0.31) EPS. The firm's revenue for the quarter was up 67.0% compared to the same quarter last year. On average, equities research analysts anticipate that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Insider Activity at Upstart

In other news, CEO Dave Girouard sold 41,667 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $75.07, for a total transaction of $3,127,941.69. Following the completion of the sale, the chief executive officer directly owned 52,614 shares in the company, valued at approximately $3,949,732.98. This represents a 44.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sanjay Datta sold 13,512 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $46.97, for a total value of $634,658.64. Following the sale, the chief financial officer owned 311,356 shares of the company's stock, valued at approximately $14,624,391.32. The trade was a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 151,650 shares of company stock worth $9,665,841 in the last ninety days. 16.67% of the stock is owned by company insiders.

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.