Rhumbline Advisers Has $5.40 Million Holdings in Upstart Holdings, Inc. $UPST

Key Points

• Rhumbline Advisers has increased its stake in Upstart Holdings, owning approximately $5.40 million worth of the stock after acquiring additional shares in the first quarter.
• Institutional investors now hold 63.01% of Upstart's stock, with several firms making significant adjustments to their positions recently.
• Upstart reported a 101.6% year-over-year revenue increase, with $257.29 million in revenue for the last quarter, while also surpassing EPS estimates.

Rhumbline Advisers increased its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,307 shares of the company's stock after acquiring an additional 5,160 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of Upstart worth $5,400,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in UPST. Virtus Fund Advisers LLC bought a new position in shares of Upstart during the 4th quarter valued at approximately $32,000. Mackenzie Financial Corp purchased a new stake in Upstart in the 4th quarter valued at about $62,000. GAMMA Investing LLC grew its holdings in Upstart by 23.3% during the 1st quarter. GAMMA Investing LLC now owns 1,662 shares of the company's stock worth $77,000 after acquiring an additional 314 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Upstart by 385.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,950 shares of the company's stock worth $90,000 after acquiring an additional 1,548 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in Upstart by 20.0% during the first quarter. NewEdge Advisors LLC now owns 1,997 shares of the company's stock valued at $92,000 after acquiring an additional 333 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Insiders Place Their Bets

In related news, CFO Sanjay Datta sold 13,473 shares of Upstart stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $61.12, for a total transaction of $823,469.76. Following the sale, the chief financial officer directly owned 297,904 shares of the company's stock, valued at $18,207,892.48. This trade represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Natalia Mirgorodskaya sold 6,533 shares of Upstart stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $70.06, for a total value of $457,701.98. Following the completion of the transaction, the insider owned 24,623 shares of the company's stock, 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. Over the last three months, insiders have sold 158,414 shares of company stock valued at $10,506,147. Company insiders own 16.67% of the company's stock.

Upstart Price Performance

Upstart stock traded up $3.90 during midday trading on Monday, hitting $66.98. 6,148,366 shares of the stock were exchanged, compared to its average volume of 6,095,207. The firm has a market cap of $6.44 billion, a P/E ratio of -837.25 and a beta of 2.37. Upstart Holdings, Inc. has a 1 year low of $31.40 and a 1 year high of $96.43. The company has a 50 day moving average price of $72.15 and a two-hundred day moving average price of $58.19.

Upstart (NASDAQ:UPST - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $257.29 million during the quarter, compared to analyst estimates of $225.35 million. During the same period in the previous year, the business posted ($0.17) EPS. Upstart's revenue was up 101.6% on a year-over-year basis. Upstart has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts predict that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Upstart to a "sell" rating and set a $71.00 price target on the stock in a report on Monday, July 14th. Morgan Stanley restated an "equal weight" rating on shares of Upstart in a research report on Wednesday, August 6th. Bank of America cut their price objective on Upstart from $88.00 to $87.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $82.00 target price (up from $70.00) on shares of Upstart in a research note on Wednesday, August 6th. Finally, Piper Sandler increased their target price on Upstart from $75.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Upstart presently has an average rating of "Hold" and an average price target of $78.54.

About Upstart

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.