Blue Trust Inc. Acquires 550 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Blue Trust Inc. grew its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 125.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 989 shares of the company’s stock after buying an additional 550 shares during the period. Blue Trust Inc.’s holdings in Upstart were worth $40,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of UPST. Atomi Financial Group Inc. raised its position in Upstart by 0.7% during the 2nd quarter. Atomi Financial Group Inc. now owns 59,009 shares of the company’s stock worth $1,392,000 after buying an additional 406 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Upstart by 18.2% during the second quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock worth $63,000 after buying an additional 409 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Upstart by 4.2% during the 2nd quarter. Principal Financial Group Inc. now owns 10,405 shares of the company’s stock worth $245,000 after purchasing an additional 422 shares during the last quarter. Inspire Advisors LLC boosted its holdings in shares of Upstart by 3.0% during the 2nd quarter. Inspire Advisors LLC now owns 16,623 shares of the company’s stock worth $392,000 after purchasing an additional 480 shares during the last quarter. Finally, EMC Capital Management lifted its holdings in Upstart by 16.2% in the first quarter. EMC Capital Management now owns 4,300 shares of the company’s stock valued at $109,000 after acquiring an additional 600 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Upstart

In other Upstart news, CEO Dave Girouard sold 3,361 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were 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 $2,358,985.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Dave Girouard sold 3,361 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $38.35, for a total value of $128,894.35. Following the transaction, the chief executive officer now directly owns 61,512 shares in the company, valued at approximately $2,358,985.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Natalia Mirgorodskaya sold 1,264 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $38.36, for a total transaction of $48,487.04. Following the completion of the transaction, the insider now owns 24,557 shares in the company, valued at $942,006.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,959 shares of company stock worth $13,745,155. 18.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on UPST. Barclays boosted their target price on Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Mizuho increased their price target on shares of Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Wedbush upgraded shares of Upstart from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $10.00 to $45.00 in a research report on Monday, October 14th. Finally, Piper Sandler raised their target price on shares of Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.50.

Upstart Stock Performance

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

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

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.