Seros Financial LLC Acquires Shares of 4,589 Upstart Holdings, Inc. (NASDAQ:UPST)

Seros Financial LLC acquired a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,589 shares of the company's stock, valued at approximately $211,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Upstart during the 1st quarter worth approximately $1,639,000. Simplicity Wealth LLC acquired a new position in Upstart during the 1st quarter worth approximately $1,712,000. GAMMA Investing LLC increased its position 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 purchasing an additional 314 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Upstart by 12,752.4% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,699 shares of the company's stock worth $124,000 after purchasing an additional 2,678 shares in the last quarter. Finally, Merit Financial Group LLC increased its position in Upstart by 19.7% in the 1st quarter. Merit Financial Group LLC now owns 5,263 shares of the company's stock valued at $242,000 after acquiring an additional 867 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Sanjay Datta sold 13,512 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $46.97, for a total value of $634,658.64. Following the completion of the sale, the chief financial officer now directly owns 311,356 shares in the company, valued at $14,624,391.32. This trade represents a 4.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Natalia Mirgorodskaya sold 764 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $46.96, for a total value of $35,877.44. Following the completion of the sale, the insider now owns 25,963 shares of the company's stock, valued at approximately $1,219,222.48. This represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,783 shares of company stock worth $3,257,814 in the last three months. Company insiders own 16.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of Upstart from $70.00 to $50.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Piper Sandler decreased their price target on shares of Upstart from $105.00 to $69.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Barclays upped their price target on shares of Upstart from $42.00 to $47.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Citigroup upped 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, Needham & Company LLC restated a "buy" rating and issued a $70.00 price target on shares of Upstart in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Upstart currently has an average rating of "Hold" and a consensus price target of $66.96.

Upstart Stock Performance

Shares of Upstart stock traded down $2.56 on Friday, reaching $52.02. 5,612,378 shares of the company's stock were exchanged, compared to its average volume of 6,741,266. The firm's 50-day moving average is $46.89 and its two-hundred day moving average is $58.35. The company has a market capitalization of $4.95 billion, a P/E ratio of -35.63 and a beta of 2.29. 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 posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.11. The firm had revenue of $213.37 million during the quarter, compared to the consensus estimate of $201.08 million. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. The business's revenue was up 67.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.31) earnings per share. On average, analysts expect that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

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.