Upstart Holdings, Inc. (NASDAQ:UPST) Holdings Increased by Rhumbline Advisers

Rhumbline Advisers increased its stake in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 4.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,307 shares of the company's stock after purchasing an additional 5,160 shares during the quarter. Rhumbline Advisers owned 0.13% of Upstart worth $5,400,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in UPST. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Upstart during the 4th quarter worth approximately $235,000. Vontobel Holding Ltd. acquired a new position in shares of Upstart in the fourth quarter worth $234,000. Blue Trust Inc. lifted its position in shares of Upstart by 49.1% in the fourth quarter. Blue Trust Inc. now owns 1,475 shares of the company's stock valued at $91,000 after acquiring an additional 486 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Upstart by 20.3% during the fourth quarter. Truist Financial Corp now owns 27,113 shares of the company's stock valued at $1,669,000 after acquiring an additional 4,567 shares during the last quarter. Finally, Atria Wealth Solutions Inc. increased its position in Upstart by 186.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 19,009 shares of the company's stock worth $1,170,000 after purchasing an additional 12,378 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Insiders Place Their Bets

In other news, CEO Dave Girouard sold 41,667 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $60.11, for a total transaction of $2,504,603.37. Following the completion of the transaction, the chief executive officer now owns 52,614 shares of the company's stock, valued at approximately $3,162,627.54. The trade was a 44.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Natalia Mirgorodskaya sold 764 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $46.96, for a total transaction of $35,877.44. Following the completion of the sale, the insider now directly owns 25,963 shares in the company, valued at approximately $1,219,222.48. This trade represents a 2.86% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,783 shares of company stock valued at $3,257,814. Company insiders own 16.67% of the company's stock.

Upstart Stock Performance

Shares of UPST stock traded down $2.56 during trading hours on Friday, hitting $52.02. 5,612,378 shares of the company were exchanged, compared to its average volume of 6,746,424. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of -35.63 and a beta of 2.29. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $96.43. The business's 50-day simple moving average is $46.89 and its two-hundred day simple moving average is $58.35.

Upstart (NASDAQ:UPST - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.11. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. The company had revenue of $213.37 million for the quarter, compared to the consensus estimate of $201.08 million. During the same quarter last year, the business posted ($0.31) EPS. Upstart's quarterly revenue was up 67.0% compared to the same quarter last year. As a group, analysts anticipate that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

UPST has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of Upstart from $70.00 to $50.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. The Goldman Sachs Group raised their target price on shares of Upstart from $15.00 to $16.50 and gave the stock a "sell" rating in a research report on Thursday, May 8th. Bank of America upgraded shares of Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price objective on the stock in a report on Tuesday, April 29th. Citigroup lifted their price target on shares of Upstart from $87.00 to $108.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, Piper Sandler dropped their price target on shares of Upstart from $105.00 to $69.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $66.96.

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.