Upstart Holdings, Inc. (NASDAQ:UPST) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 106.8% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 29,138 shares of the company's stock after buying an additional 15,045 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Upstart were worth $1,341,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Rakuten Securities Inc. purchased a new stake in shares of Upstart in the 4th quarter worth $31,000. Virtus Fund Advisers LLC bought a new stake in Upstart during the fourth quarter valued at about $32,000. Farther Finance Advisors LLC increased its position in Upstart by 24.2% in the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company's stock worth $54,000 after buying an additional 172 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Upstart in the fourth quarter worth about $62,000. Finally, GAMMA Investing LLC raised its stake in shares of Upstart by 23.3% in the first quarter. GAMMA Investing LLC now owns 1,662 shares of the company's stock worth $77,000 after buying an additional 314 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Upstart

In other Upstart news, CFO Sanjay Datta sold 13,512 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $46.97, for a total transaction of $634,658.64. Following the completion of the sale, the chief financial officer directly owned 311,356 shares of the company's stock, valued at approximately $14,624,391.32. This represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,340 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $44.19, for a total transaction of $59,214.60. Following the completion of the sale, the insider owned 24,623 shares in the company, valued at $1,088,090.37. This represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,450 shares of company stock valued at $5,759,917. 16.67% of the stock is currently owned by corporate insiders.

Upstart Trading Up 3.0%

Shares of UPST stock traded up $2.20 on Monday, reaching $76.02. 3,225,247 shares of the company's stock were exchanged, compared to its average volume of 6,893,867. The company's fifty day simple moving average is $53.79 and its 200 day simple moving average is $56.55. The stock has a market capitalization of $7.23 billion, a PE ratio of -101.37 and a beta of 2.37. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $96.43.

Upstart (NASDAQ:UPST - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.11. The business had revenue of $213.37 million during the quarter, compared to analyst estimates of $201.08 million. Upstart had a negative return on equity of 15.27% and a negative net margin of 9.20%. Upstart's revenue was up 67.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.31) EPS. As a group, sell-side analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on UPST shares. Morgan Stanley reduced their target price on shares of Upstart from $70.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Bank of America upgraded shares of Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price target for the company in a research report on Tuesday, April 29th. The Goldman Sachs Group lifted their target price on shares of Upstart from $15.00 to $16.50 and gave the company a "sell" rating in a research note on Thursday, May 8th. Barclays raised their price objective on Upstart from $42.00 to $47.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $70.00 price objective on shares of Upstart in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Upstart presently has an average rating of "Hold" and a consensus target price of $67.42.

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.