Invesco Ltd. raised its stake in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 79.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,270,352 shares of the company's stock after purchasing an additional 560,668 shares during the quarter. Invesco Ltd. owned approximately 1.34% of Upstart worth $58,474,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Upstart by 2.8% during the first quarter. Vanguard Group Inc. now owns 8,014,656 shares of the company's stock worth $368,915,000 after purchasing an additional 221,204 shares during the period. Two Sigma Investments LP grew its position in Upstart by 20.1% during the fourth quarter. Two Sigma Investments LP now owns 1,922,770 shares of the company's stock worth $118,385,000 after buying an additional 321,366 shares in the last quarter. Fred Alger Management LLC grew its position in Upstart by 53.6% during the fourth quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company's stock worth $117,914,000 after buying an additional 668,282 shares in the last quarter. Two Sigma Advisers LP grew its position in Upstart by 190.2% during the fourth quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company's stock worth $105,242,000 after buying an additional 1,120,300 shares in the last quarter. Finally, Northern Trust Corp grew its position in Upstart by 16.2% during the fourth quarter. Northern Trust Corp now owns 782,557 shares of the company's stock worth $48,182,000 after buying an additional 109,164 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on UPST. JPMorgan Chase & Co. raised Upstart from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $93.00 to $88.00 in a research report on Wednesday. Morgan Stanley reissued an "equal weight" rating on shares of Upstart in a research report on Wednesday, August 6th. Stephens began coverage on Upstart in a research report on Thursday, June 12th. They set an "equal weight" rating and a $55.00 price target on the stock. Barclays increased their price target on Upstart from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Finally, Needham & Company LLC reissued a "buy" rating and set a $82.00 price target (up previously from $70.00) on shares of Upstart in a research report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $78.54.
Get Our Latest Stock Report on UPST
Upstart Stock Up 3.7%
Shares of NASDAQ:UPST traded up $2.2610 during trading on Wednesday, hitting $63.8510. 5,019,004 shares of the company were exchanged, compared to its average volume of 6,309,093. The business's 50 day moving average is $70.34 and its 200-day moving average is $59.03. The company has a market capitalization of $6.14 billion, a P/E ratio of -796.65 and a beta of 2.39. Upstart Holdings, Inc. has a 1-year low of $31.40 and a 1-year high of $96.43.
Upstart (NASDAQ:UPST - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.09. Upstart had a negative net margin of 0.75% and a negative return on equity of 5.95%. The company had revenue of $257.29 million during the quarter, compared to the consensus estimate of $225.35 million. During the same period in the prior year, the business earned ($0.17) earnings per share. The company's revenue for the quarter was up 101.6% compared to the same quarter last year. Upstart has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.
Insider Activity at Upstart
In related news, CEO Dave Girouard sold 41,667 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $60.05, for a total value of $2,502,103.35. Following the transaction, the chief executive officer owned 52,614 shares in the company, valued at $3,159,470.70. The trade was a 44.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Natalia Mirgorodskaya sold 6,533 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $70.06, for a total transaction of $457,701.98. Following the completion of the transaction, the insider owned 24,623 shares in the company, valued at approximately $1,725,087.38. The trade was a 20.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,041 shares of company stock valued at $11,631,576. Company insiders own 16.67% of the company's stock.
Upstart Company Profile
(
Free Report)
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.
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