SummitTX Capital L.P. Sells 25,720 Shares of Upstart Holdings, Inc. $UPST

SummitTX Capital L.P. reduced its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 30.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,503 shares of the company’s stock after selling 25,720 shares during the period. SummitTX Capital L.P.’s holdings in Upstart were worth $1,526,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of UPST. Cresset Asset Management LLC grew its holdings in shares of Upstart by 3.3% in the second quarter. Cresset Asset Management LLC now owns 5,241 shares of the company’s stock valued at $339,000 after purchasing an additional 169 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Upstart by 29.1% in the second quarter. Daiwa Securities Group Inc. now owns 1,068 shares of the company’s stock worth $69,000 after purchasing an additional 241 shares during the last quarter. Advisory Services Network LLC raised its stake in Upstart by 5.3% during the second quarter. Advisory Services Network LLC now owns 5,399 shares of the company’s stock valued at $349,000 after purchasing an additional 272 shares in the last quarter. California State Teachers Retirement System raised its stake in Upstart by 0.4% during the second quarter. California State Teachers Retirement System now owns 76,368 shares of the company’s stock valued at $4,939,000 after purchasing an additional 332 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in Upstart by 20.0% during the first quarter. NewEdge Advisors LLC now owns 1,997 shares of the company’s stock valued at $92,000 after purchasing an additional 333 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on UPST. Piper Sandler reduced their target price on shares of Upstart from $56.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Zacks Research raised shares of Upstart from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Citigroup dropped their price target on Upstart from $80.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Morgan Stanley set a $35.00 price objective on Upstart in a research note on Thursday, May 7th. Finally, Jefferies Financial Group restated a “hold” rating and set a $30.00 price objective on shares of Upstart in a research report on Tuesday, June 9th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.93.

Upstart Stock Down 4.4%

NASDAQ UPST opened at $26.60 on Thursday. Upstart Holdings, Inc. has a 52 week low of $23.97 and a 52 week high of $87.30. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 70.00, a PEG ratio of 0.74 and a beta of 2.26. The company has a fifty day moving average of $31.36 and a two-hundred day moving average of $32.10.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, May 5th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.46). The firm had revenue of $308.21 million during the quarter, compared to analysts’ expectations of $301.30 million. Upstart had a net margin of 4.34% and a return on equity of 5.63%. The company’s revenue was up 44.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS. Equities research analysts anticipate that Upstart Holdings, Inc. will post 0.92 EPS for the current year.

Insider Activity at Upstart

In related news, insider Natalia Mirgorodskaya sold 974 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $28.99, for a total transaction of $28,236.26. Following the transaction, the insider directly owned 37,374 shares in the company, valued at approximately $1,083,472.26. This represents a 2.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dave Girouard acquired 170,240 shares of Upstart stock in a transaction that occurred on Thursday, May 7th. The stock was purchased at an average cost of $29.37 per share, for a total transaction of $4,999,948.80. Following the completion of the transaction, the director directly owned 8,512,941 shares in the company, valued at $250,025,077.17. This trade represents a 2.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 33,346 shares of company stock worth $991,672 in the last three months. 17.29% of the stock is owned by insiders.

About Upstart

Upstart Holdings, Inc operates a cloud-based lending marketplace that leverages artificial intelligence and machine learning to assess borrower creditworthiness. The company partners with banks and credit unions, providing its proprietary AI models and underwriting platform to facilitate consumer credit products. By focusing on non‐traditional data points—such as education, employment history and other real‐time indicators—Upstart seeks to improve approval rates and lower loss rates compared with conventional credit scoring methods.

Upstart’s core offering centers on unsecured personal loans, which borrowers can use for purposes such as debt consolidation, home improvements or major purchases.