DekaBank Deutsche Girozentrale Raises Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

DekaBank Deutsche Girozentrale boosted its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPSTGet Rating) by 183.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,967 shares of the company’s stock after purchasing an additional 12,921 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Upstart were worth $2,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vulcan Value Partners LLC boosted its position in Upstart by 14.0% during the fourth quarter. Vulcan Value Partners LLC now owns 4,845,315 shares of the company’s stock valued at $733,096,000 after purchasing an additional 594,854 shares in the last quarter. Renaissance Technologies LLC boosted its position in Upstart by 34.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,238,437 shares of the company’s stock valued at $187,376,000 after purchasing an additional 315,537 shares in the last quarter. State Street Corp boosted its position in Upstart by 15.9% during the fourth quarter. State Street Corp now owns 788,272 shares of the company’s stock valued at $119,266,000 after purchasing an additional 108,404 shares in the last quarter. Geode Capital Management LLC boosted its position in Upstart by 11.0% during the fourth quarter. Geode Capital Management LLC now owns 663,677 shares of the company’s stock valued at $100,361,000 after purchasing an additional 65,978 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its position in Upstart by 84.7% during the first quarter. Artemis Investment Management LLP now owns 632,025 shares of the company’s stock valued at $68,826,000 after purchasing an additional 289,854 shares in the last quarter. Institutional investors own 59.65% of the company’s stock.

Analyst Ratings Changes

UPST has been the subject of several recent analyst reports. Morgan Stanley downgraded Upstart from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $88.00 to $19.00 in a report on Wednesday, June 29th. Loop Capital initiated coverage on Upstart in a report on Tuesday, April 5th. They issued a “buy” rating and a $140.00 price target for the company. Citigroup downgraded Upstart from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $180.00 to $50.00 in a report on Tuesday, May 10th. Wedbush lowered their price target on Upstart from $70.00 to $35.00 in a report on Tuesday, May 10th. Finally, Bank of America lowered their price target on Upstart from $41.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, July 8th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Upstart presently has an average rating of “Hold” and an average price target of $89.69.

Insider Activity at Upstart

In related news, General Counsel Alison Nicoll sold 7,500 shares of Upstart stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $73.22, for a total transaction of $549,150.00. Following the completion of the transaction, the general counsel now directly owns 186,367 shares in the company, valued at $13,645,791.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Alison Nicoll sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $73.22, for a total value of $549,150.00. Following the completion of the sale, the general counsel now directly owns 186,367 shares in the company, valued at $13,645,791.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $3,333,360.00. Following the completion of the sale, the chief executive officer now owns 87,114 shares of the company’s stock, valued at $6,969,120. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,550 shares of company stock worth $5,861,619. 18.87% of the stock is owned by corporate insiders.

Upstart Trading Up 1.4 %

Shares of UPST stock opened at $28.68 on Thursday. The stock has a 50 day moving average of $37.53 and a 200 day moving average of $81.79. The stock has a market cap of $2.43 billion, a P/E ratio of 17.49 and a beta of 2.05. Upstart Holdings, Inc. has a twelve month low of $23.78 and a twelve month high of $401.49.

Upstart (NASDAQ:UPSTGet Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.09. The company had revenue of $310.14 million during the quarter, compared to analysts’ expectations of $300.13 million. Upstart had a return on equity of 20.27% and a net margin of 15.23%. Upstart’s quarterly revenue was up 155.6% on a year-over-year basis. During the same period last year, the business earned $0.12 earnings per share. On average, research analysts predict that Upstart Holdings, Inc. will post 0.47 earnings per share for the current fiscal year.

About Upstart

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Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform aggregates consumer demand for loans and connects it to its network of the company's AI-enabled bank partners. The company was founded in 2012 and is headquartered in San Mateo, California.

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Institutional Ownership by Quarter for Upstart (NASDAQ:UPST)

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