Creative Planning Trims Stock Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Creative Planning lowered its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 11.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,138 shares of the company’s stock after selling 3,031 shares during the quarter. Creative Planning’s holdings in Upstart were worth $926,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in UPST. Atomi Financial Group Inc. increased 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 worth $1,392,000 after acquiring an additional 406 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Upstart by 18.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock worth $63,000 after acquiring an additional 409 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Upstart by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 10,405 shares of the company’s stock worth $245,000 after acquiring an additional 422 shares in the last quarter. Inspire Advisors LLC increased its holdings in Upstart by 3.0% in the 2nd quarter. Inspire Advisors LLC now owns 16,623 shares of the company’s stock worth $392,000 after acquiring an additional 480 shares in the last quarter. Finally, EMC Capital Management increased its holdings in Upstart by 16.2% in the 1st quarter. EMC Capital Management now owns 4,300 shares of the company’s stock worth $109,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on UPST. Piper Sandler increased their target price on shares of Upstart from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wedbush upgraded Upstart from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $10.00 to $45.00 in a research note on Monday, October 14th. Barclays upped their price target on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Mizuho upped their price target on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, Citigroup upgraded Upstart from a “sell” rating to a “neutral” rating and upped their price target for the stock from $15.00 to $33.00 in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.50.

Upstart Stock Performance

NASDAQ UPST opened at $48.48 on Friday. The company has a market capitalization of $4.34 billion, a P/E ratio of -20.72 and a beta of 2.01. Upstart Holdings, Inc. has a one year low of $19.84 and a one year high of $57.40. The stock has a 50 day moving average price of $43.11 and a 200-day moving average price of $32.17.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.22. The company had revenue of $127.63 million during the quarter, compared to the consensus estimate of $124.55 million. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. Upstart’s revenue was down 6.0% on a year-over-year basis. During the same period last year, the company earned ($0.34) earnings per share. As a group, equities analysts predict that Upstart Holdings, Inc. will post -2.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Upstart news, CEO Dave Girouard sold 3,361 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total value of $128,894.35. Following the sale, the chief executive officer now owns 61,512 shares in the company, valued at $2,358,985.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Upstart news, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $51.70, for a total value of $77,550.00. Following the sale, the chief financial officer now owns 334,093 shares in the company, valued at $17,272,608.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dave Girouard sold 3,361 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total value of $128,894.35. Following the completion of the sale, the chief executive officer now owns 61,512 shares in the company, valued at approximately $2,358,985.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 313,959 shares of company stock worth $13,745,155 over the last three months. 18.06% of the stock is owned by insiders.

About Upstart

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.