Daiwa Securities Group Inc. acquired a new position in Upstart Holdings, Inc. (NASDAQ:UPST – Get Rating) during the 4th quarter, HoldingsChannel reports. The fund acquired 1,000 shares of the company’s stock, valued at approximately $151,000.
A number of other hedge funds have also recently bought and sold shares of UPST. Moors & Cabot Inc. acquired a new stake in Upstart in the 3rd quarter worth about $25,000. Allworth Financial LP purchased a new position in Upstart in the 3rd quarter valued at $26,000. Wagner Wealth Management LLC purchased a new position in Upstart in the 3rd quarter valued at $29,000. Herold Advisors Inc. purchased a new position in Upstart in the 3rd quarter valued at $31,000. Finally, Hoey Investments Inc. purchased a new position in Upstart in the 3rd quarter valued at $32,000. Institutional investors own 67.88% of the company’s stock.
In other news, CEO Dave Girouard sold 83,333 shares of the stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $109.37, for a total transaction of $9,114,130.21. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Alison Nicoll sold 7,500 shares of the stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $81.30, for a total transaction of $609,750.00. Following the sale, the general counsel now directly owns 186,367 shares in the company, valued at approximately $15,151,637.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 256,874 shares of company stock valued at $28,198,514. Company insiders own 25.20% of the company’s stock.
Upstart (NASDAQ:UPST – Get Rating) last announced its quarterly earnings results on Tuesday, February 15th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.43. Upstart had a net margin of 15.96% and a return on equity of 21.33%. The business had revenue of $304.85 million during the quarter, compared to analysts’ expectations of $262.01 million. Equities analysts forecast that Upstart Holdings, Inc. will post 1.04 earnings per share for the current year.
UPST has been the subject of a number of recent research reports. Loop Capital initiated coverage on shares of Upstart in a report on Tuesday, April 5th. They issued a “buy” rating and a $140.00 price objective for the company. Bank of America upgraded shares of Upstart from an “underperform” rating to a “buy” rating and set a $255.00 price objective for the company in a report on Thursday, February 17th. Stephens started coverage on Upstart in a report on Thursday, March 31st. They issued an “equal weight” rating and a $124.00 target price for the company. Citigroup dropped their target price on Upstart from $350.00 to $180.00 and set a “buy” rating for the company in a report on Friday. Finally, Barclays dropped their target price on Upstart from $285.00 to $180.00 in a report on Thursday, February 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $205.07.
Upstart Profile (Get Rating)
Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform in the United States. The company's platform aggregates consumer demand for loans and connects it to its network of the company's AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.
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