Upstart Holdings, Inc. $UPST Shares Bought by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC increased its stake in Upstart Holdings by 71.5%, now owning 1.28% of the company valued at approximately $55.9 million.
• Upstart reported a 101.6% increase in revenue year-over-year, achieving $257.29 million against analyst expectations of $225.35 million, with an EPS of $0.36.
• Over the last 90 days, insiders sold 193,642 shares of Upstart, a significant indication of insider trading activity, while insiders currently hold 16.67% of the company's total shares.

Driehaus Capital Management LLC raised its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 71.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,215,237 shares of the company's stock after purchasing an additional 506,787 shares during the period. Driehaus Capital Management LLC owned 1.28% of Upstart worth $55,937,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new position in shares of Upstart in the 1st quarter worth approximately $550,000. Rakuten Securities Inc. grew its position in shares of Upstart by 482.3% in the 1st quarter. Rakuten Securities Inc. now owns 2,888 shares of the company's stock worth $133,000 after buying an additional 2,392 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Upstart by 175.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,712 shares of the company's stock worth $585,000 after buying an additional 8,098 shares during the last quarter. Simplicity Wealth LLC purchased a new position in shares of Upstart in the 1st quarter worth approximately $1,712,000. Finally, SG Americas Securities LLC purchased a new position in shares of Upstart in the 1st quarter worth approximately $1,639,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

Insider Buying and Selling

In related news, CEO Dave Girouard sold 41,667 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $63.27, for a total transaction of $2,636,271.09. Following the sale, the chief executive officer directly owned 52,614 shares in the company, valued at approximately $3,328,887.78. This represents a 44.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sanjay Datta sold 13,473 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 297,904 shares of the company's stock, valued at $18,207,892.48. This trade represents a 4.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 193,142 shares of company stock worth $12,533,502. Company insiders own 16.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on UPST shares. JPMorgan Chase & Co. upgraded shares of Upstart from a "neutral" rating to an "overweight" rating and lowered their target price for the stock from $93.00 to $88.00 in a research note on Wednesday, August 20th. Piper Sandler lifted their price objective 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. The Goldman Sachs Group upgraded shares of Upstart to a "sell" rating and set a $71.00 price objective for the company in a research note on Monday, July 14th. Morgan Stanley restated an "equal weight" rating on shares of Upstart in a research note on Wednesday, August 6th. Finally, Stephens began coverage on shares of Upstart in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $55.00 target price for the company. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $78.54.

Upstart Stock Down 5.6%

Shares of Upstart stock traded down $4.11 during trading hours on Tuesday, reaching $69.17. 5,196,916 shares of the company's stock were exchanged, compared to its average volume of 6,314,811. The business has a fifty day moving average of $72.66 and a two-hundred day moving average of $58.78. The company has a market capitalization of $6.66 billion, a P/E ratio of -864.63 and a beta of 2.37. Upstart Holdings, Inc. has a 1 year low of $31.40 and a 1 year high of $96.43.

Upstart (NASDAQ:UPST - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.09. The company had revenue of $257.29 million for 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%. Upstart's revenue for the quarter was up 101.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.17) earnings per share. Upstart has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts predict that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

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.