Bayforest Capital Ltd Acquires 3,118 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Key Points

• Bayforest Capital Ltd has increased its stake in Upstart Holdings by 52.3% during the first quarter, now owning a total of 9,081 shares valued at $418,000.
• Analysts have provided a mixed outlook on Upstart, with an average rating of "Hold" and a consensus price target of $71.62.
• Upstart reported a 67% year-over-year increase in revenue for its latest quarter, achieving $213.37 million against expectations of $201.08 million.

Bayforest Capital Ltd lifted its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 52.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,081 shares of the company's stock after purchasing an additional 3,118 shares during the period. Bayforest Capital Ltd's holdings in Upstart were worth $418,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Virtus Fund Advisers LLC bought a new stake in Upstart in the fourth quarter worth about $32,000. Mackenzie Financial Corp bought a new stake in shares of Upstart in the fourth quarter valued at approximately $62,000. Ancora Advisors LLC raised its position in shares of Upstart by 31.3% in the fourth quarter. Ancora Advisors LLC now owns 1,575 shares of the company's stock valued at $97,000 after purchasing an additional 375 shares during the period. GAMMA Investing LLC raised its position in shares of Upstart by 23.3% in the first quarter. GAMMA Investing LLC now owns 1,662 shares of the company's stock valued at $77,000 after purchasing an additional 314 shares during the period. Finally, NewEdge Advisors LLC raised its position in shares of Upstart by 150.6% in the fourth quarter. NewEdge Advisors LLC now owns 1,664 shares of the company's stock valued at $102,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 63.01% of the company's stock.

Upstart Stock Down 3.1%

Shares of Upstart stock traded down $2.52 during trading on Friday, reaching $79.22. The company's stock had a trading volume of 6,828,452 shares, compared to its average volume of 5,279,926. The firm's 50-day moving average is $66.02 and its two-hundred day moving average is $58.83. Upstart Holdings, Inc. has a 52-week low of $20.60 and a 52-week high of $96.43. The company has a market cap of $7.54 billion, a price-to-earnings ratio of -105.63 and a beta of 2.38.

Upstart (NASDAQ:UPST - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 EPS 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 company had revenue of $213.37 million during the quarter, compared to analyst estimates of $201.08 million. During the same period in the prior year, the business posted ($0.31) EPS. The firm's revenue was up 67.0% compared to the same quarter last year. On average, equities research analysts anticipate that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Insiders Place Their Bets

In other Upstart news, CEO Dave Girouard sold 41,667 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $75.07, for a total value of $3,127,941.69. Following the completion of the transaction, the chief executive officer directly owned 52,614 shares in the company, valued at approximately $3,949,732.98. This represents a 44.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sanjay Datta sold 13,512 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $46.97, for a total transaction of $634,658.64. Following the completion of the transaction, the chief financial officer owned 311,356 shares of the company's stock, valued at $14,624,391.32. This trade represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 151,650 shares of company stock worth $9,665,841. 16.67% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler raised shares of Upstart to an "overweight" rating and set a $75.00 price target on the stock in a research report on Tuesday, June 24th. The Goldman Sachs Group raised shares of Upstart to a "sell" rating and set a $71.00 price target on the stock in a research report on Monday, July 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $70.00 price objective on shares of Upstart in a research note on Monday, May 19th. Bank of America raised shares of Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price objective for the company in a research note on Tuesday, April 29th. Finally, Stephens began coverage on shares of Upstart in a research note on Thursday, June 12th. They set an "equal weight" rating and a $55.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $71.62.

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.