Upstart Holdings, Inc. $UPST Position Reduced by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its position in Upstart Holdings by 32.0% during Q2, now holding 13,432 shares valued at approximately $869,000.
• Several institutional investors have made significant changes to their stakes in Upstart, including PNC Financial Services increasing its position by 385.1% in the first quarter.
• Upstart's stock opened at $49.60, with a market cap of $4.77 billion and a consensus rating of "Hold" among analysts.

Truist Financial Corp decreased its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 32.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,432 shares of the company's stock after selling 6,330 shares during the period. Truist Financial Corp's holdings in Upstart were worth $869,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UPST. GAMMA Investing LLC lifted its position in shares of Upstart by 23.3% during the 1st quarter. GAMMA Investing LLC now owns 1,662 shares of the company's stock valued at $77,000 after acquiring an additional 314 shares during the last quarter. PNC Financial Services Group Inc. lifted 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 valued at $90,000 after acquiring an additional 1,548 shares in the last quarter. NewEdge Advisors LLC raised its stake in Upstart by 20.0% during the 1st quarter. NewEdge Advisors LLC now owns 1,997 shares of the company's stock valued at $92,000 after purchasing an additional 333 shares during the period. Asset Management One Co. Ltd. raised its stake in Upstart by 71.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 2,010 shares of the company's stock valued at $93,000 after purchasing an additional 836 shares during the period. Finally, Rakuten Securities Inc. raised its stake in Upstart by 482.3% during the 1st quarter. Rakuten Securities Inc. now owns 2,888 shares of the company's stock valued at $133,000 after purchasing an additional 2,392 shares during the period. Institutional investors own 63.01% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on UPST. Piper Sandler boosted their target price on shares of Upstart from $75.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Bank of America lowered their target price on shares of Upstart from $88.00 to $87.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Needham & Company LLC restated a "buy" rating and set a $82.00 price target (up from $70.00) on shares of Upstart in a report on Wednesday, August 6th. Morgan Stanley restated an "equal weight" rating on shares of Upstart in a research note on Wednesday, August 6th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Upstart in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $79.67.

Upstart Price Performance

Shares of NASDAQ:UPST opened at $49.60 on Tuesday. The company has a 50 day moving average of $63.20 and a 200-day moving average of $58.90. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of -620.00 and a beta of 2.28. Upstart Holdings, Inc. has a one year low of $31.40 and a one year high of $96.43.

Upstart (NASDAQ:UPST - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.27 by $0.09. The company had revenue of $257.29 million during the quarter, compared to analysts' expectations of $225.35 million. Upstart had a negative net margin of 0.75% and a negative return on equity of 5.95%. The business's revenue for the quarter was up 101.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) EPS. Upstart has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts anticipate that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Sanjay Datta sold 13,473 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $61.12, for a total value of $823,469.76. Following the completion of the sale, the chief financial officer owned 297,904 shares in the company, valued at $18,207,892.48. This represents a 4.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kerry Whorton Cooper sold 500 shares of Upstart stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $69.21, for a total transaction of $34,605.00. Following the completion of the transaction, the director directly owned 25,434 shares in the company, valued at approximately $1,760,287.14. The trade was a 1.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,214 shares of company stock worth $6,803,558 over the last 90 days. 16.67% of the stock is currently 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.

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