Quinn Opportunity Partners LLC Purchases Shares of 18,774 Upstart Holdings, Inc. (NASDAQ:UPST)

Quinn Opportunity Partners LLC purchased a new stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 18,774 shares of the company’s stock, valued at approximately $298,000.

Other hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new stake in Upstart during the 1st quarter valued at $25,000. SkyView Investment Advisors LLC acquired a new stake in shares of Upstart during the first quarter worth $45,000. Money Concepts Capital Corp lifted its holdings in shares of Upstart by 18.6% during the fourth quarter. Money Concepts Capital Corp now owns 3,570 shares of the company’s stock worth $47,000 after buying an additional 560 shares in the last quarter. Capital Impact Advisors LLC lifted its holdings in shares of Upstart by 12.1% during the fourth quarter. Capital Impact Advisors LLC now owns 4,367 shares of the company’s stock worth $58,000 after buying an additional 471 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Upstart by 48.8% during the first quarter. NewEdge Advisors LLC now owns 3,640 shares of the company’s stock worth $58,000 after buying an additional 1,194 shares in the last quarter. Institutional investors and hedge funds own 42.50% of the company’s stock.

Insider Transactions at Upstart

In other news, insider Scott Darling sold 1,670 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $29.92, for a total transaction of $49,966.40. Following the sale, the insider now directly owns 184,588 shares in the company, valued at $5,522,872.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Scott Darling sold 1,670 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $29.92, for a total transaction of $49,966.40. Following the sale, the insider now directly owns 184,588 shares in the company, valued at $5,522,872.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $32.53, for a total value of $32,530.00. Following the sale, the chief financial officer now owns 398,764 shares in the company, valued at $12,971,792.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,263 shares of company stock worth $2,640,641. Insiders own 18.45% of the company’s stock.

Analyst Ratings Changes

UPST has been the subject of a number of research reports. B. Riley initiated coverage on Upstart in a report on Wednesday, July 26th. They set a “neutral” rating and a $49.00 target price for the company. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their target price on Upstart from $23.00 to $28.00 and gave the stock an “underweight” rating in a report on Tuesday, August 22nd. Compass Point lifted their target price on Upstart from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Wednesday, August 23rd. Barclays boosted their price target on Upstart from $17.00 to $31.00 and gave the company an “equal weight” rating in a research note on Monday, August 14th. Finally, 22nd Century Group reaffirmed an “initiates” rating on shares of Upstart in a research note on Wednesday, June 14th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Upstart has a consensus rating of “Hold” and an average price target of $27.00.

Upstart Trading Down 3.8 %

Shares of NASDAQ UPST opened at $30.57 on Friday. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -9.32 and a beta of 1.99. Upstart Holdings, Inc. has a 12 month low of $11.93 and a 12 month high of $72.58. The stock has a 50-day moving average price of $43.52 and a two-hundred day moving average price of $28.87.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, August 8th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.15. The firm had revenue of $135.77 million during the quarter, compared to the consensus estimate of $133.91 million. Upstart had a negative return on equity of 38.15% and a negative net margin of 49.54%. On average, sell-side analysts predict that Upstart Holdings, Inc. will post -2.41 earnings per share for the current year.

Upstart Profile

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 and credit union partners. The company was founded in 2012 and is headquartered in San Mateo, California.