3,296 Shares in Upstart Holdings, Inc. $UPST Bought by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC purchased a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,296 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameritas Advisory Services LLC bought a new position in shares of Upstart in the second quarter valued at $34,000. Bogart Wealth LLC raised its holdings in shares of Upstart by 140.0% in the 2nd quarter. Bogart Wealth LLC now owns 1,200 shares of the company’s stock worth $78,000 after acquiring an additional 700 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Upstart by 385.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,950 shares of the company’s stock worth $90,000 after acquiring an additional 1,548 shares during the last quarter. NewEdge Advisors LLC lifted its position in Upstart by 20.0% in the 1st quarter. NewEdge Advisors LLC now owns 1,997 shares of the company’s stock valued at $92,000 after acquiring an additional 333 shares in the last quarter. Finally, Virtus Advisers LLC acquired a new position in Upstart during the 1st quarter valued at about $161,000. Institutional investors own 63.01% of the company’s stock.

Upstart Trading Down 9.7%

UPST stock opened at $37.72 on Friday. The stock has a market cap of $3.63 billion, a P/E ratio of 171.46 and a beta of 2.26. The stock’s fifty day simple moving average is $56.34 and its two-hundred day simple moving average is $59.77. Upstart Holdings, Inc. has a 1-year low of $31.40 and a 1-year high of $96.43.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.09. The firm had revenue of $257.29 million during the quarter, compared to analyst estimates of $225.35 million. Upstart had a return on equity of 3.68% and a net margin of 3.33%.The business’s revenue was up 101.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) EPS. As a group, analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citigroup lowered their price objective on Upstart from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday. Morgan Stanley set a $45.00 price target on Upstart in a report on Wednesday. Piper Sandler lowered their price target on Upstart from $80.00 to $56.00 and set an “overweight” rating for the company in a research report on Wednesday. Needham & Company LLC dropped their price objective on Upstart from $82.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Stephens reduced their target price on shares of Upstart from $55.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Upstart presently has a consensus rating of “Hold” and a consensus target price of $64.58.

Insider Activity

In other Upstart news, CTO Paul Gu sold 5,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $68.61, for a total transaction of $343,050.00. Following the completion of the transaction, the chief technology officer directly owned 1,147,156 shares of the company’s stock, valued at approximately $78,706,373.16. This represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $64.93, for a total value of $2,705,438.31. Following the completion of the sale, the chief executive officer directly owned 52,614 shares of the company’s stock, valued at $3,416,227.02. This represents a 44.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 106,214 shares of company stock worth $6,803,558. 16.67% of the stock is owned by insiders.

Upstart Company 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.