SBI Securities Co. Ltd. Purchases 109,502 Shares of Upstart Holdings, Inc. $UPST

Key Points

• SBI Securities increased its Upstart position by 654% in the third quarter, acquiring 109,502 additional shares and bringing its total holdings to 126,246 shares worth approximately $2.9 million. Institutional investors collectively own 63.01% of the company.
• Upstart reported quarterly revenue of $364.71 million, up 41.9% year over year, but EPS of $0.16 missed analysts’ $0.18 estimate. Shares recently traded at $23.78, near the lower end of their 12-month range of $22.21 to $55.22.
• Analyst sentiment remains mixed, with seven Buy, seven Hold, and three Sell ratings; the consensus rating is Hold with a $42.94 price target. Insiders sold 148,652 shares worth $4.13 million during the latest quarter.

SBI Securities Co. Ltd. raised its position in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 654.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 126,246 shares of the company's stock after acquiring an additional 109,502 shares during the period. SBI Securities Co. Ltd. owned approximately 0.13% of Upstart worth $2,902,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vontobel Holding Ltd. increased its position in shares of Upstart by 91.1% during the third quarter. Vontobel Holding Ltd. now owns 17,469 shares of the company's stock worth $402,000 after acquiring an additional 8,329 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Upstart by 25.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,307 shares of the company's stock worth $99,000 after acquiring an additional 881 shares during the last quarter. Greenwich Wealth Management LLC acquired a new stake in shares of Upstart in the 2nd quarter worth about $322,000. Sequoia Financial Advisors LLC bought a new position in Upstart in the 2nd quarter valued at about $254,000. Finally, Gemmer Asset Management LLC lifted its position in Upstart by 17.0% in the 2nd quarter. Gemmer Asset Management LLC now owns 29,707 shares of the company's stock valued at $1,053,000 after acquiring an additional 4,314 shares in the last quarter. Institutional investors own 63.01% of the company's stock.

Insider Activity at Upstart

In related news, CFO Andrea Blankmeyer sold 7,175 shares of the company's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $29.36, for a total value of $210,658.00. Following the transaction, the chief financial officer owned 155,208 shares in the company, valued at approximately $4,556,906.88. This represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sanjay Datta sold 116,000 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $27.29, for a total value of $3,165,640.00. Following the completion of the transaction, the insider owned 476,578 shares in the company, valued at approximately $13,005,813.62. The trade was a 19.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 148,652 shares of company stock valued at $4,133,720 over the last quarter. 17.29% of the stock is currently owned by insiders.

Upstart Price Performance

Shares of Upstart stock traded down $0.07 during trading hours on Friday, hitting $23.78. 3,052,261 shares of the company's stock traded hands, compared to its average volume of 4,024,650. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 48.53, a PEG ratio of 0.84 and a beta of 2.43. Upstart Holdings, Inc. has a 12-month low of $22.21 and a 12-month high of $55.22. The company has a fifty day simple moving average of $25.88 and a 200-day simple moving average of $29.05.

Upstart (NASDAQ:UPST - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). The company 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%. The business's quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. On average, analysts forecast that Upstart Holdings, Inc. will post 0.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on UPST. Citizens Jmp cut their price target on Upstart from $20.00 to $18.00 and set a "market underperform" rating for the company in a research note on Thursday, October 15th. Piper Sandler raised their target price on Upstart from $46.00 to $51.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Weiss Ratings cut Upstart from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, September 28th. Citigroup reiterated a "market underperform" rating on shares of Upstart in a report on Thursday, October 15th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $42.00 price target on shares of Upstart in a research report on Tuesday, October 6th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $42.94.

Upstart Company Profile

Upstart Holdings, Inc NASDAQ: UPST operates an artificial intelligence-powered lending marketplace. Its platform connects consumers seeking credit with banks and credit unions, using data-driven underwriting models designed to evaluate applicants beyond traditional credit-score-based methods.

The company provides technology for several lending categories, including personal loans, automotive retail and refinance lending, home equity lines of credit, and small-dollar lending. Upstart's platform supports financial institutions with application processing, risk assessment, loan origination, and related automation, while offering consumers a digital borrowing experience.

Founded in 2012, Upstart is headquartered in San Mateo, California, and primarily serves the United States.

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