Paul Gu Purchases 50,000 Shares of Upstart (NASDAQ:UPST) Stock

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

Upstart Stock Up 2.0%

UPST opened at $25.59 on Friday. The stock’s fifty day moving average is $29.42 and its two-hundred day moving average is $29.66. The company has a market capitalization of $2.49 billion, a P/E ratio of 52.22, a PEG ratio of 0.89 and a beta of 2.16. Upstart Holdings, Inc. has a 52 week low of $23.97 and a 52 week high of $71.38.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). Upstart had a return on equity of 7.13% and a net margin of 4.84%.The firm had revenue of $364.71 million during the quarter, compared to analysts’ expectations of $354.74 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. Upstart’s quarterly revenue was up 41.9% compared to the same quarter last year. Equities analysts anticipate that Upstart Holdings, Inc. will post 0.72 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on UPST. Weiss Ratings lowered shares of Upstart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, August 31st. The Goldman Sachs Group boosted their price target on shares of Upstart from $32.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 price target on shares of Upstart in a research report on Tuesday, June 9th. BTIG Research reiterated a “buy” rating and set a $43.00 price objective on shares of Upstart in a research note on Wednesday, August 5th. Finally, Piper Sandler lifted their price objective on shares of Upstart from $46.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Upstart has an average rating of “Hold” and an average target price of $43.75.

Institutional Investors Weigh In On Upstart

Hedge funds have recently made changes to their positions in the stock. Jericho Capital Asset Management L.P. boosted its position in Upstart by 11.9% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 5,011,809 shares of the company’s stock valued at $219,166,000 after purchasing an additional 531,000 shares in the last quarter. Morgan Stanley grew its stake in Upstart by 154.6% in the fourth quarter. Morgan Stanley now owns 4,206,615 shares of the company’s stock valued at $183,955,000 after purchasing an additional 2,554,591 shares during the last quarter. California State Teachers Retirement System raised its holdings in Upstart by 3,247.5% in the second quarter. California State Teachers Retirement System now owns 3,370,739 shares of the company’s stock worth $119,425,000 after purchasing an additional 3,270,046 shares in the last quarter. Geode Capital Management LLC raised its holdings in Upstart by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,068,515 shares of the company’s stock worth $90,469,000 after purchasing an additional 26,734 shares in the last quarter. Finally, Halter Ferguson Financial Inc. lifted its position in shares of Upstart by 253.3% during the first quarter. Halter Ferguson Financial Inc. now owns 1,467,360 shares of the company’s stock valued at $37,638,000 after buying an additional 1,052,039 shares during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

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.