Legal & General Group Plc Makes New Investment in Upstart Holdings, Inc. $UPST

Key Points

• Legal & General Group Plc acquired 73,072 Upstart shares worth approximately $2.59 million during the second quarter, while institutional investors collectively own 63.01% of the company.
• Upstart reported quarterly revenue of $364.71 million, up 41.9% year over year and above estimates, but earnings of $0.16 per share missed consensus by $0.02.
• UPST opened at $28.05, well below its one-year high of $71.38. Analysts maintain a consensus “Hold” rating with an average price target of $44.40, while insiders sold $1.42 million of stock over the past three months.

Legal & General Group Plc bought a new stake in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 73,072 shares of the company's stock, valued at approximately $2,589,000. Legal & General Group Plc owned 0.08% of Upstart as of its most recent SEC filing.

Several other large investors have also modified their holdings of UPST. Quarry LP lifted its position in Upstart by 749.2% in the third quarter. Quarry LP now owns 501 shares of the company's stock valued at $25,000 after buying an additional 442 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Upstart by 132.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 771 shares of the company's stock valued at $39,000 after acquiring an additional 439 shares during the period. Empowered Funds LLC purchased a new stake in shares of Upstart in the 4th quarter valued at approximately $40,000. Geneos Wealth Management Inc. boosted its position in shares of Upstart by 274.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,842 shares of the company's stock worth $47,000 after purchasing an additional 1,350 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Upstart in the 4th quarter valued at approximately $48,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Insider Activity at Upstart

In related news, insider Sanjay Datta sold 8,945 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $28.09, for a total transaction of $251,265.05. Following the transaction, the insider owned 292,578 shares in the company, valued at $8,218,516.02. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Natalia Mirgorodskaya sold 913 shares of Upstart stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $30.03, for a total value of $27,417.39. Following the transaction, the insider directly owned 35,875 shares in the company, valued at approximately $1,077,326.25. This trade represents a 2.48% 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. Insiders sold a total of 47,652 shares of company stock valued at $1,424,230 in the last three months. 17.29% of the stock is currently owned by company insiders.

Upstart Stock Performance

UPST opened at $28.05 on Friday. Upstart Holdings, Inc. has a one year low of $23.97 and a one year high of $71.38. The company has a market cap of $2.73 billion, a P/E ratio of 57.24, a PEG ratio of 0.99 and a beta of 2.16. The business's 50-day simple moving average is $30.30 and its 200-day simple moving average is $29.81.

Upstart (NASDAQ:UPST - Get Free Report) last posted its earnings results 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 business had revenue of $364.71 million for the quarter, compared to analysts' expectations of $354.74 million. Upstart had a return on equity of 7.13% and a net margin of 4.84%.Upstart's revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS. As a group, analysts predict that Upstart Holdings, Inc. will post 0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on UPST shares. Piper Sandler upped their price target on Upstart from $46.00 to $51.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $30.00 price objective on shares of Upstart in a research note on Tuesday, June 9th. The Goldman Sachs Group boosted their price objective on Upstart from $32.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. BTIG Research restated a "buy" rating and set a $43.00 target price on shares of Upstart in a report on Wednesday, August 5th. Finally, Weiss Ratings downgraded Upstart from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, August 31st. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Upstart has a consensus rating of "Hold" and an average target price 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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