AdvisorNet Financial Inc lifted its stake in Upstart Holdings, Inc. (NASDAQ:UPST – Get Rating) by 157.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,747 shares of the company's stock after buying an additional 1,680 shares during the period. AdvisorNet Financial Inc's holdings in Upstart were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also made changes to their positions in UPST. SJS Investment Consulting Inc. acquired a new position in Upstart during the first quarter valued at approximately $25,000. Tyler Stone Wealth Management acquired a new position in Upstart during the fourth quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV raised its position in Upstart by 542.1% during the first quarter. Massmutual Trust Co. FSB ADV now owns 244 shares of the company's stock valued at $27,000 after purchasing an additional 206 shares in the last quarter. Winch Advisory Services LLC acquired a new position in Upstart during the first quarter valued at approximately $31,000. Finally, GPS Wealth Strategies Group LLC acquired a new position in Upstart during the first quarter valued at approximately $32,000. 44.80% of the stock is currently owned by institutional investors.
Get Upstart alerts:Upstart Price Performance
UPST stock opened at $22.87 on Thursday. The stock has a market capitalization of $1.86 billion, a PE ratio of 25.70 and a beta of 1.05. The company's 50-day moving average is $27.11 and its 200-day moving average is $53.81. Upstart Holdings, Inc. has a 1 year low of $22.42 and a 1 year high of $401.49.
Upstart (NASDAQ:UPST – Get Rating) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.03). The company had revenue of $228.00 million for the quarter, compared to the consensus estimate of $235.30 million. Upstart had a return on equity of 11.50% and a net margin of 8.48%. Upstart's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. On average, analysts anticipate that Upstart Holdings, Inc. will post -0.76 earnings per share for the current fiscal year.Analysts Set New Price Targets
UPST has been the topic of several analyst reports. The Goldman Sachs Group cut shares of Upstart from a "neutral" rating to a "sell" rating in a research note on Sunday, July 10th. Piper Sandler reduced their price objective on shares of Upstart from $25.00 to $24.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 9th. JMP Securities cut shares of Upstart from an "outperform" rating to a "market perform" rating in a research note on Friday, July 8th. Stephens reduced their price objective on shares of Upstart from $28.00 to $23.00 and set an "underweight" rating on the stock in a research note on Tuesday, August 9th. Finally, Barclays boosted their price objective on shares of Upstart from $25.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Monday, August 15th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Upstart has a consensus rating of "Hold" and a consensus price target of $88.38.
Insider Buying and Selling
In related news, General Counsel Alison Nicoll sold 15,000 shares of the company's stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $40.31, for a total value of $604,650.00. Following the sale, the general counsel now owns 412,983 shares in the company, valued at approximately $16,647,344.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 16,364 shares of company stock worth $646,123 in the last quarter. Insiders own 18.87% of the company's stock.
Upstart Company Profile
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Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform aggregates consumer demand for loans and connects it to its network of the company's AI-enabled bank partners. The company was founded in 2012 and is headquartered in San Mateo, California.
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