SBI Securities Co. Ltd. Acquires 11,389 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

SBI Securities Co. Ltd. increased its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 69.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,871 shares of the company's stock after acquiring an additional 11,389 shares during the quarter. SBI Securities Co. Ltd.'s holdings in Upstart were worth $1,283,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Blair William & Co. IL acquired a new position in shares of Upstart during the fourth quarter valued at $222,000. Vanguard Group Inc. lifted its stake in shares of Upstart by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company's stock valued at $479,843,000 after acquiring an additional 369,640 shares during the period. Cerity Partners LLC acquired a new position in shares of Upstart during the fourth quarter valued at $209,000. Symmetry Partners LLC acquired a new position in shares of Upstart during the fourth quarter valued at $314,000. Finally, Rakuten Securities Inc. lifted its stake in shares of Upstart by 482.3% during the first quarter. Rakuten Securities Inc. now owns 2,888 shares of the company's stock valued at $133,000 after acquiring an additional 2,392 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Stephens assumed coverage on Upstart in a report on Thursday, June 12th. They set an "equal weight" rating and a $55.00 target price on the stock. Barclays raised their target price on Upstart from $42.00 to $47.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Bank of America upgraded Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 target price on the stock in a report on Tuesday, April 29th. Needham & Company LLC restated a "buy" rating and set a $70.00 target price on shares of Upstart in a report on Monday, May 19th. Finally, The Goldman Sachs Group upgraded Upstart to a "sell" rating and set a $71.00 target price on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Upstart currently has a consensus rating of "Hold" and an average price target of $71.62.

Upstart Trading Up 3.8%

Shares of NASDAQ UPST traded up $2.83 during mid-day trading on Wednesday, reaching $76.96. 5,260,219 shares of the company's stock were exchanged, compared to its average volume of 6,876,140. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of -102.61 and a beta of 2.37. The business has a fifty day simple moving average of $58.16 and a 200 day simple moving average of $57.14. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43.

Upstart (NASDAQ:UPST - Get Free Report) last released its quarterly 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. The company had revenue of $213.37 million for the quarter, compared to analyst estimates of $201.08 million. Upstart had a negative return on equity of 15.27% and a negative net margin of 9.20%. Upstart's revenue was up 67.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.31) earnings per share. Equities research analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sanjay Datta sold 13,512 shares of the stock in a transaction dated 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 directly owned 311,356 shares in the company, valued at approximately $14,624,391.32. This trade represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dave Girouard sold 41,667 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $60.05, for a total value of $2,502,103.35. Following the transaction, the chief executive officer owned 52,614 shares of the company's stock, valued at approximately $3,159,470.70. The trade was a 44.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,983 shares of company stock worth $6,537,899. 16.67% of the stock is owned by corporate insiders.

Upstart 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.