Free Trial

Principal Financial Group Inc. Acquires 112,002 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Upstart logo with Finance background

Principal Financial Group Inc. increased its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 1,675.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 118,687 shares of the company's stock after buying an additional 112,002 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Upstart worth $5,463,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in UPST. Teacher Retirement System of Texas acquired a new stake in Upstart during the 1st quarter worth approximately $550,000. Vontobel Holding Ltd. lifted its holdings in shares of Upstart by 51.8% in the 1st quarter. Vontobel Holding Ltd. now owns 5,769 shares of the company's stock valued at $266,000 after buying an additional 1,969 shares during the period. KBC Group NV lifted its holdings in shares of Upstart by 21.1% in the 1st quarter. KBC Group NV now owns 3,741 shares of the company's stock valued at $172,000 after buying an additional 653 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Upstart by 106.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,138 shares of the company's stock valued at $1,341,000 after buying an additional 15,045 shares during the period. Finally, Symmetry Partners LLC lifted its holdings in shares of Upstart by 11.3% in the 1st quarter. Symmetry Partners LLC now owns 5,677 shares of the company's stock valued at $261,000 after buying an additional 577 shares during the period. Hedge funds and other institutional investors own 63.01% of the company's stock.

Wall Street Analysts Forecast Growth

UPST has been the subject of several recent analyst reports. Barclays raised their price target on Upstart from $42.00 to $47.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Morgan Stanley reduced their price objective on Upstart from $70.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Stephens assumed coverage on Upstart in a report on Thursday, June 12th. They set an "equal weight" rating and a $55.00 price objective for the company. The Goldman Sachs Group raised Upstart to a "sell" rating and set a $71.00 price objective for the company in a report on Monday. Finally, Bank of America raised Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price objective for the company in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $71.62.

Get Our Latest Research Report on Upstart

Upstart Stock Up 1.0%

UPST traded up $0.78 during midday trading on Friday, reaching $78.36. 3,873,067 shares of the company's stock were exchanged, compared to its average volume of 6,855,375. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of -104.48 and a beta of 2.37. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $96.43. The business has a 50-day simple moving average of $58.76 and a two-hundred day simple moving average of $57.24.

Upstart (NASDAQ:UPST - Get Free Report) last issued its quarterly 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. Upstart had a negative net margin of 9.20% and a negative return on equity of 15.27%. The business had revenue of $213.37 million during the quarter, compared to analyst estimates of $201.08 million. During the same quarter last year, the business posted ($0.31) earnings per share. Upstart's revenue for the quarter was up 67.0% compared to the same quarter last year. As a group, research analysts anticipate that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Sanjay Datta sold 13,512 shares of the business's 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 transaction, the chief financial officer directly owned 311,356 shares in the company, valued at $14,624,391.32. The trade was a 4.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Natalia Mirgorodskaya sold 4,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $80.07, for a total transaction of $320,280.00. Following the transaction, the insider owned 24,623 shares in the company, valued at approximately $1,971,563.61. The trade was a 13.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 151,650 shares of company stock valued at $9,665,841 in the last three months. 16.67% of the stock is currently owned by corporate insiders.

About Upstart

(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.

See Also

Institutional Ownership by Quarter for Upstart (NASDAQ:UPST)

Should You Invest $1,000 in Upstart Right Now?

Before you consider Upstart, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Upstart wasn't on the list.

While Upstart currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 AI Stocks to Invest in Today: Capitalizing on AI and Tech Trends in 2025 Cover

Discover the top 7 AI stocks to invest in right now. This exclusive report highlights the companies leading the AI revolution and shaping the future of technology in 2025.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Pelosi Makes Big Bet on Broadcom—Here’s Why It Matters
This Strategy Beat the S&P—And Most Investors Ignore It
NVDA Greenlight: China Sales Spark 50% Rally Potential

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines