Xponance Inc. Acquires 401 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Xponance Inc. raised its holdings in Upstart Holdings, Inc. (NASDAQ:UPST) by 6.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,171 shares of the company’s stock after buying an additional 401 shares during the quarter. Xponance Inc.’s holdings in Upstart were worth $284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Virtus Fund Advisers LLC bought a new stake in Upstart in the 4th quarter valued at $32,000. Farther Finance Advisors LLC increased its holdings in Upstart by 24.2% in the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock valued at $54,000 after buying an additional 172 shares during the period. Mackenzie Financial Corp bought a new stake in Upstart in the 4th quarter valued at $62,000. GAMMA Investing LLC increased its holdings in Upstart by 23.3% in the 1st quarter. GAMMA Investing LLC now owns 1,662 shares of the company’s stock valued at $77,000 after buying an additional 314 shares during the period. Finally, Asset Management One Co. Ltd. increased its holdings in Upstart by 71.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 2,010 shares of the company’s stock valued at $93,000 after buying an additional 836 shares during the period. Institutional investors own 63.01% of the company’s stock.

Analysts Set New Price Targets

UPST has been the topic of several analyst reports. Barclays boosted their price target on shares of Upstart from $42.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of Upstart in a report on Monday, May 19th. Piper Sandler raised shares of Upstart to an “overweight” rating and set a $75.00 target price on the stock in a report on Tuesday, June 24th. Bank of America raised shares of Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a report on Tuesday, April 29th. Finally, Morgan Stanley lowered their target price on shares of Upstart from $70.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.62.

Upstart Stock Up 1.0%

Shares of NASDAQ:UPST opened at $78.36 on Friday. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $96.43. The company’s 50-day moving average price is $59.38 and its two-hundred day moving average price is $57.35. The firm has a market cap of $7.46 billion, a P/E ratio of -104.48 and a beta of 2.37.

Upstart (NASDAQ:UPST) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.11. Upstart had a negative net margin of 9.20% and a negative return on equity of 15.27%. The firm had revenue of $213.37 million for the quarter, compared to analyst estimates of $201.08 million. During the same quarter in the prior year, the firm earned ($0.31) EPS. The company’s revenue was up 67.0% on a year-over-year basis. As a group, equities analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Upstart news, CEO Dave Girouard sold 41,667 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $75.07, for a total transaction of $3,127,941.69. Following the sale, the chief executive officer owned 52,614 shares of the company’s stock, valued at $3,949,732.98. This represents a 44.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sanjay Datta sold 13,512 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $46.97, for a total transaction of $634,658.64. Following the sale, the chief financial officer directly owned 311,356 shares in the company, valued at approximately $14,624,391.32. This represents a 4.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 151,650 shares of company stock valued at $9,665,841 in the last 90 days. 16.67% of the stock is currently 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.