Hsbc Holdings PLC Purchases 14,385 Shares of Upstart Holdings, Inc. $UPST

Key Points

• Hsbc Holdings PLC has increased its stake in Upstart Holdings, Inc. by 7.6%, now owning approximately 204,678 shares valued at $9,368,000.
• Other institutional investors have also increased their positions in Upstart, with Vanguard Group boosting its stake by 2.8% and Two Sigma Investments LP increasing theirs by 20.1% recently.
• Upstart Holdings reported a revenue increase of 101.6% year-over-year, totaling $257.29 million for the quarter, with a surprising earnings per share (EPS) of $0.36, exceeding analysts' expectations.

Hsbc Holdings PLC boosted its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 7.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 204,678 shares of the company's stock after buying an additional 14,385 shares during the period. Hsbc Holdings PLC owned approximately 0.22% of Upstart worth $9,368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UPST. Virtus Fund Advisers LLC bought a new position in Upstart during the fourth quarter valued at approximately $32,000. Mackenzie Financial Corp bought a new position in Upstart during the fourth quarter valued at approximately $62,000. GAMMA Investing LLC boosted its stake in Upstart by 23.3% during the first quarter. GAMMA Investing LLC now owns 1,662 shares of the company's stock valued at $77,000 after buying an additional 314 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Upstart by 385.1% during the first quarter. PNC Financial Services Group Inc. now owns 1,950 shares of the company's stock valued at $90,000 after buying an additional 1,548 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its position in Upstart by 71.2% during the first quarter. Asset Management One Co. Ltd. now owns 2,010 shares of the company's stock valued at $93,000 after purchasing an additional 836 shares during the period. 63.01% of the stock is owned by institutional investors.

Insider Transactions at Upstart

In other news, CFO Sanjay Datta sold 13,473 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $61.12, for a total value of $823,469.76. Following the sale, the chief financial officer directly owned 297,904 shares in the company, valued at approximately $18,207,892.48. This represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dave Girouard sold 41,667 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $63.27, for a total value of $2,636,271.09. Following the completion of the transaction, the chief executive officer directly owned 52,614 shares in the company, valued at approximately $3,328,887.78. This trade represents a 44.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 193,642 shares of company stock worth $12,556,962. 16.67% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

UPST has been the topic of a number of recent research reports. Bank of America decreased their price objective on Upstart from $88.00 to $87.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. The Goldman Sachs Group upgraded Upstart to a "sell" rating and set a $71.00 price objective on the stock in a research report on Monday, July 14th. Morgan Stanley restated an "equal weight" rating on shares of Upstart in a research report on Wednesday, August 6th. Needham & Company LLC restated a "buy" rating and set a $82.00 price objective (up from $70.00) on shares of Upstart in a research report on Wednesday, August 6th. Finally, Stephens initiated coverage on Upstart in a research report on Thursday, June 12th. They set an "equal weight" rating and a $55.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $78.54.

Upstart Trading Down 0.7%

Shares of NASDAQ UPST traded down $0.48 during midday trading on Friday, hitting $73.28. The company's stock had a trading volume of 5,760,804 shares, compared to its average volume of 7,976,939. The business's 50 day moving average is $72.38 and its two-hundred day moving average is $59.02. Upstart Holdings, Inc. has a 12-month low of $31.40 and a 12-month high of $96.43. The firm has a market cap of $7.05 billion, a P/E ratio of -916.00 and a beta of 2.39.

Upstart (NASDAQ:UPST - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.09. Upstart had a negative return on equity of 5.95% and a negative net margin of 0.75%.The firm had revenue of $257.29 million for the quarter, compared to the consensus estimate of $225.35 million. During the same period in the prior year, the business posted ($0.17) earnings per share. The company's revenue for the quarter was up 101.6% on a year-over-year basis. Upstart has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

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.