Upstart (NASDAQ:UPST) CEO Purchases $1,277,500.00 in Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CEO Paul Gu acquired 50,000 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was purchased at an average price of $25.55 per share, for a total transaction of $1,277,500.00. Following the transaction, the chief executive officer directly owned 130,000 shares of the company’s stock, valued at approximately $3,321,500. This trade represents a 62.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Upstart Trading Up 2.0%

Shares of NASDAQ:UPST opened at $25.59 on Friday. The company has a 50-day moving average price of $29.42 and a 200-day moving average price of $29.66. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 52.22, a price-to-earnings-growth ratio of 0.90 and a beta of 2.16. Upstart Holdings, Inc. has a 12 month low of $23.97 and a 12 month high of $71.38.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $364.71 million for the quarter, compared to analysts’ expectations of $354.74 million. Upstart had a net margin of 4.84% and a return on equity of 7.13%. The firm’s revenue for the quarter was up 41.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, research analysts forecast that Upstart Holdings, Inc. will post 0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Cresset Asset Management LLC grew its holdings in Upstart by 3.3% during the 2nd quarter. Cresset Asset Management LLC now owns 5,241 shares of the company’s stock valued at $339,000 after buying an additional 169 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Upstart by 29.1% during the second quarter. Daiwa Securities Group Inc. now owns 1,068 shares of the company’s stock valued at $69,000 after buying an additional 241 shares during the last quarter. Advisory Services Network LLC lifted its holdings in shares of Upstart by 5.3% in the second quarter. Advisory Services Network LLC now owns 5,399 shares of the company’s stock worth $349,000 after buying an additional 272 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Upstart by 0.4% during the second quarter. California State Teachers Retirement System now owns 76,368 shares of the company’s stock worth $4,939,000 after acquiring an additional 332 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Upstart by 20.0% during the first quarter. NewEdge Advisors LLC now owns 1,997 shares of the company’s stock worth $92,000 after acquiring an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 target price on shares of Upstart in a research report on Tuesday, June 9th. Citigroup dropped their price target on Upstart from $80.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. The Goldman Sachs Group upped their price target on Upstart from $32.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. BTIG Research reiterated a “buy” rating and issued a $43.00 price objective on shares of Upstart in a report on Wednesday, August 5th. Finally, Piper Sandler raised their price objective on Upstart from $46.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Upstart presently has a consensus rating of “Hold” and an average price target of $43.75.

About Upstart

Upstart Holdings, Inc is a financial technology company that operates an artificial intelligence-powered lending marketplace. Its platform connects consumers seeking credit with banks and credit unions, using alternative data and machine-learning models alongside traditional credit information to help lending partners evaluate applicants and originate loans.

The company’s offerings include technology for personal lending, auto lending and home equity lending. Upstart provides tools that support the application, underwriting and loan-origination process, while participating financial institutions generally fund and service the loans.