Symmetry Partners LLC Increases Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Symmetry Partners LLC increased its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 11.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,677 shares of the company’s stock after buying an additional 577 shares during the quarter. Symmetry Partners LLC’s holdings in Upstart were worth $261,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in UPST. International Assets Investment Management LLC raised its position in Upstart by 127.4% in the first quarter. International Assets Investment Management LLC now owns 12,630 shares of the company’s stock valued at $581,000 after purchasing an additional 7,076 shares during the period. Asset Management One Co. Ltd. raised its position in Upstart by 71.2% in the first quarter. Asset Management One Co. Ltd. now owns 2,010 shares of the company’s stock valued at $93,000 after purchasing an additional 836 shares during the period. Oppenheimer Asset Management Inc. raised its position in Upstart by 1.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 24,352 shares of the company’s stock valued at $1,121,000 after purchasing an additional 322 shares during the period. Guided Capital Wealth Management LLC purchased a new stake in Upstart in the first quarter valued at $1,649,000. Finally, TCI Wealth Advisors Inc. raised its position in Upstart by 20.5% in the first quarter. TCI Wealth Advisors Inc. now owns 37,590 shares of the company’s stock valued at $1,730,000 after purchasing an additional 6,395 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Upstart Stock Performance

Upstart stock opened at $59.07 on Tuesday. The stock has a fifty day moving average of $49.29 and a two-hundred day moving average of $57.18. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of -78.76 and a beta of 2.29. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43.

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

Insider Activity at Upstart

In other Upstart news, CFO Sanjay Datta sold 13,512 shares of the business’s 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 transaction, the chief financial officer now owns 311,356 shares in the company, valued at $14,624,391.32. The trade was a 4.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,340 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $44.19, for a total value of $59,214.60. Following the transaction, the insider now owns 24,623 shares in the company, valued at approximately $1,088,090.37. This represents a 5.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,783 shares of company stock worth $3,257,814. 16.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Needham & Company LLC restated a “buy” rating and issued a $70.00 target price on shares of Upstart in a research report on Monday, May 19th. Morgan Stanley cut their price objective on Upstart from $70.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Piper Sandler cut their price objective on Upstart from $105.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Stephens initiated coverage on Upstart in a report on Thursday, June 12th. They issued an “equal weight” rating and a $55.00 price objective on the stock. Finally, Barclays upped their price target on Upstart from $42.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Upstart has an average rating of “Hold” and an average price target of $66.96.

Upstart 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.