Upstart Holdings, Inc. $UPST Shares Sold by Halter Ferguson Financial Inc.

Key Points

• Halter Ferguson Financial cut its Upstart stake by 19% in the third quarter, selling 331,636 shares and retaining 1.42 million shares valued at approximately $32.6 million. Institutional investors and hedge funds collectively own 63.01% of Upstart.
• Analyst sentiment remains mixed, with seven Buy, seven Hold, and three Sell ratings. MarketBeat reports an overall “Hold” consensus and an average price target of $42.94.
• Upstart shares opened at $23.66, near their 52-week low of $22.21 and well below the $55.22 high. The company’s latest quarterly revenue rose 41.9% year over year to $364.7 million, though earnings per share missed estimates.

Halter Ferguson Financial Inc. lowered its holdings in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 19.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,416,483 shares of the company's stock after selling 331,636 shares during the period. Upstart comprises about 5.6% of Halter Ferguson Financial Inc.'s portfolio, making the stock its 8th largest holding. Halter Ferguson Financial Inc. owned 1.46% of Upstart worth $32,565,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vontobel Holding Ltd. grew its stake in shares of Upstart by 91.1% in the third quarter. Vontobel Holding Ltd. now owns 17,469 shares of the company's stock valued at $402,000 after buying an additional 8,329 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Upstart by 25.7% during the third quarter. Farther Finance Advisors LLC now owns 4,307 shares of the company's stock worth $99,000 after buying an additional 881 shares during the last quarter. Greenwich Wealth Management LLC acquired a new position in Upstart during the second quarter worth $322,000. Sequoia Financial Advisors LLC bought a new stake in Upstart during the second quarter worth $254,000. Finally, Gemmer Asset Management LLC raised its position in Upstart by 17.0% during the second quarter. Gemmer Asset Management LLC now owns 29,707 shares of the company's stock worth $1,053,000 after acquiring an additional 4,314 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on UPST shares. Weiss Ratings cut shares of Upstart from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, September 28th. BTIG Research reissued a "buy" rating and issued a $43.00 price objective on shares of Upstart in a research report on Tuesday, September 22nd. Loop Capital began coverage on shares of Upstart in a research note on Tuesday, September 8th. They set a "hold" rating and a $34.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and set a $42.00 price objective on shares of Upstart in a research note on Tuesday, October 6th. Finally, Citigroup reaffirmed a "market underperform" rating on shares of Upstart in a report on Thursday, October 15th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $42.94.

Upstart Trading Up 0.0%

UPST stock opened at $23.66 on Thursday. The firm has a market capitalization of $2.30 billion, a PE ratio of 48.29, a PEG ratio of 0.84 and a beta of 2.43. Upstart Holdings, Inc. has a 1-year low of $22.21 and a 1-year high of $55.22. The business's 50 day simple moving average is $26.16 and its 200 day simple moving average is $29.10.

Upstart (NASDAQ:UPST - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). Upstart had a net margin of 4.84% and a return on equity of 7.13%. The business had revenue of $364.71 million during the quarter, compared to the consensus estimate of $354.74 million. During the same quarter last year, the company posted $0.36 EPS. The firm's revenue was up 41.9% on a year-over-year basis. As a group, sell-side analysts predict that Upstart Holdings, Inc. will post 0.72 EPS for the current fiscal year.

Insider Activity at Upstart

In other news, insider Sanjay Datta sold 116,000 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $27.29, for a total value of $3,165,640.00. Following the transaction, the insider directly owned 476,578 shares of the company's stock, valued at $13,005,813.62. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrea Blankmeyer sold 7,175 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $29.36, for a total transaction of $210,658.00. Following the completion of the transaction, the chief financial officer directly owned 155,208 shares in the company, valued at $4,556,906.88. The trade was a 4.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 148,652 shares of company stock valued at $4,133,720 in the last ninety days. Company insiders own 17.29% of the company's stock.

About Upstart

Upstart Holdings, Inc NASDAQ: UPST operates an artificial intelligence-powered lending marketplace. Its platform connects consumers seeking credit with banks and credit unions, using data-driven underwriting models designed to evaluate applicants beyond traditional credit-score-based methods.

The company provides technology for several lending categories, including personal loans, automotive retail and refinance lending, home equity lines of credit, and small-dollar lending. Upstart's platform supports financial institutions with application processing, risk assessment, loan origination, and related automation, while offering consumers a digital borrowing experience.

Founded in 2012, Upstart is headquartered in San Mateo, California, and primarily serves the United States.

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