Credit Suisse AG Raises Stock Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Credit Suisse AG grew its holdings in Upstart Holdings, Inc. (NASDAQ:UPST – Get Rating) by 21.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 119,211 shares of the company’s stock after purchasing an additional 20,997 shares during the quarter. Credit Suisse AG owned 0.15% of Upstart worth $2,478,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in UPST. Bank of New York Mellon Corp boosted its position in Upstart by 19.8% in the 1st quarter. Bank of New York Mellon Corp now owns 172,118 shares of the company’s stock valued at $18,777,000 after buying an additional 28,494 shares during the period. American Century Companies Inc. boosted its holdings in Upstart by 66.9% in the first quarter. American Century Companies Inc. now owns 13,549 shares of the company’s stock valued at $1,478,000 after purchasing an additional 5,429 shares during the period. HighTower Advisors LLC grew its stake in Upstart by 32.0% during the 1st quarter. HighTower Advisors LLC now owns 6,991 shares of the company’s stock worth $765,000 after purchasing an additional 1,694 shares in the last quarter. Cetera Advisor Networks LLC increased its holdings in Upstart by 15.2% during the 1st quarter. Cetera Advisor Networks LLC now owns 3,705 shares of the company’s stock worth $404,000 after purchasing an additional 488 shares during the period. Finally, Private Advisor Group LLC raised its position in Upstart by 73.0% in the 1st quarter. Private Advisor Group LLC now owns 6,185 shares of the company’s stock valued at $675,000 after purchasing an additional 2,610 shares in the last quarter. Institutional investors and hedge funds own 37.43% of the company’s stock.

Analyst Ratings Changes

UPST has been the subject of several recent research reports. Piper Sandler reiterated a “neutral” rating and issued a $16.00 price objective on shares of Upstart in a research note on Wednesday, February 15th. Mizuho dropped their price objective on shares of Upstart from $16.00 to $14.00 and set an “underperform” rating on the stock in a research report on Tuesday, February 21st. Jefferies Financial Group decreased their price objective on shares of Upstart from $25.00 to $20.00 in a research report on Wednesday, November 9th. Loop Capital raised Upstart from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Wednesday, February 15th. Finally, Citigroup downgraded Upstart from a “neutral” rating to a “sell” rating in a report on Wednesday, February 15th. Eight research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.69.

Insider Buying and Selling at Upstart

In other news, CTO Paul Gu sold 9,674 shares of the stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $18.14, for a total transaction of $175,486.36. Following the completion of the sale, the chief technology officer now owns 730,230 shares in the company, valued at $13,246,372.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CTO Paul Gu sold 9,674 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $18.14, for a total transaction of $175,486.36. Following the completion of the sale, the chief technology officer now owns 730,230 shares in the company, valued at $13,246,372.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sanjay Datta sold 3,200 shares of Upstart stock in a transaction on Monday, January 30th. The shares were sold at an average price of $18.82, for a total transaction of $60,224.00. Following the completion of the transaction, the chief financial officer now owns 290,585 shares in the company, valued at $5,468,809.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,484 shares of company stock worth $1,029,700. 18.87% of the stock is owned by company insiders.

Upstart Stock Up 6.5 %

UPST opened at $18.82 on Friday. Upstart Holdings, Inc. has a 52 week low of $12.01 and a 52 week high of $151.67. The business’s 50 day moving average is $17.09 and its two-hundred day moving average is $20.06. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -13.64 and a beta of 1.57.

Upstart (NASDAQ:UPST – Get Rating) last announced its earnings results on Tuesday, February 14th. The company reported ($0.67) EPS for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.31. Upstart had a negative net margin of 12.90% and a negative return on equity of 14.37%. The business had revenue of $146.91 million for the quarter, compared to analysts’ expectations of $132.13 million. Equities analysts expect that Upstart Holdings, Inc. will post -2.86 EPS for the current fiscal year.

Upstart Company Profile

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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.