Upstart Holdings, Inc. (NASDAQ:UPST) Stock Holdings Boosted by Arizona State Retirement System

Arizona State Retirement System lifted its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 3.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 20,567 shares of the company’s stock after acquiring an additional 698 shares during the period. Arizona State Retirement System’s holdings in Upstart were worth $485,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atomi Financial Group Inc. lifted its holdings in Upstart by 0.7% in the 2nd quarter. Atomi Financial Group Inc. now owns 59,009 shares of the company’s stock valued at $1,392,000 after acquiring an additional 406 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Upstart by 4.2% in the second quarter. Principal Financial Group Inc. now owns 10,405 shares of the company’s stock valued at $245,000 after buying an additional 422 shares during the last quarter. Cassady Schiller Wealth Management LLC raised its holdings in shares of Upstart by 23.7% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $112,000 after buying an additional 527 shares during the last quarter. EMC Capital Management raised its holdings in Upstart by 16.2% during the 1st quarter. EMC Capital Management now owns 4,300 shares of the company’s stock worth $109,000 after purchasing an additional 600 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Upstart by 80.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock worth $47,000 after purchasing an additional 778 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Paul Gu sold 5,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $23.52, for a total transaction of $117,600.00. Following the completion of the sale, the chief technology officer now directly owns 894,629 shares in the company, valued at approximately $21,041,674.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Natalia Mirgorodskaya sold 1,264 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $38.36, for a total value of $48,487.04. Following the transaction, the insider now directly owns 24,557 shares in the company, valued at approximately $942,006.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Paul Gu sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $23.52, for a total value of $117,600.00. Following the sale, the chief technology officer now directly owns 894,629 shares in the company, valued at $21,041,674.08. The disclosure for this sale can be found here. Insiders have sold 159,459 shares of company stock worth $5,990,694 in the last ninety days. 18.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Mizuho raised Upstart from an “underperform” rating to an “outperform” rating and upped their price target for the company from $17.00 to $31.00 in a research note on Wednesday, July 31st. Redburn Atlantic upgraded Upstart from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $22.50 to $25.50 in a research report on Tuesday, June 4th. Piper Sandler increased their target price on Upstart from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Finally, BTIG Research started coverage on Upstart in a research note on Friday, June 7th. They set a “sell” rating and a $14.00 price target on the stock. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.75.

Upstart Stock Performance

Shares of Upstart stock opened at $35.12 on Tuesday. Upstart Holdings, Inc. has a 52 week low of $19.84 and a 52 week high of $49.62. The stock has a 50 day moving average price of $33.25 and a two-hundred day moving average price of $27.52. The stock has a market capitalization of $3.09 billion, a PE ratio of -17.05 and a beta of 2.03.

Upstart (NASDAQ:UPST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.22. The business had revenue of $127.63 million for the quarter, compared to analysts’ expectations of $124.55 million. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The business’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. Research analysts forecast that Upstart Holdings, Inc. will post -2.39 EPS for the current year.

Upstart Company 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.