Oppenheimer Asset Management Inc. Purchases 322 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Oppenheimer Asset Management Inc. boosted its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,352 shares of the company’s stock after buying an additional 322 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Upstart were worth $1,121,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Blair William & Co. IL bought a new position in shares of Upstart in the fourth quarter worth about $222,000. Vanguard Group Inc. boosted its stake in Upstart by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company’s stock valued at $479,843,000 after purchasing an additional 369,640 shares during the period. Cerity Partners LLC acquired a new stake in Upstart in the 4th quarter valued at approximately $209,000. Symmetry Partners LLC bought a new position in Upstart in the 4th quarter worth approximately $314,000. Finally, Rakuten Securities Inc. increased its position in Upstart by 482.3% in the 1st quarter. Rakuten Securities Inc. now owns 2,888 shares of the company’s stock worth $133,000 after buying an additional 2,392 shares during the period. Institutional investors own 63.01% of the company’s stock.

Upstart Stock Up 0.1%

NASDAQ:UPST opened at $63.43 on Friday. The firm has a market capitalization of $6.03 billion, a PE ratio of -84.57 and a beta of 2.29. Upstart Holdings, Inc. has a 12-month low of $20.60 and a 12-month high of $96.43. The firm has a 50-day moving average price of $51.14 and a 200 day moving average price of $56.96.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.11. The company had revenue of $213.37 million for the quarter, compared to analyst estimates of $201.08 million. Upstart had a negative return on equity of 15.27% and a negative net margin of 9.20%. The company’s revenue was up 67.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.31) EPS. On average, research analysts expect that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Insider Transactions at Upstart

In other news, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $60.05, for a total value of $2,502,103.35. Following the transaction, the chief executive officer now directly owns 52,614 shares of the company’s stock, valued at $3,159,470.70. The trade was a 44.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Natalia Mirgorodskaya sold 764 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $46.96, for a total value of $35,877.44. Following the sale, the insider now directly owns 25,963 shares of the company’s stock, valued at $1,219,222.48. This represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,450 shares of company stock valued at $5,759,917. 16.67% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler raised Upstart to an “overweight” rating and set a $75.00 price objective for the company in a research report on Tuesday, June 24th. Barclays upped their target price on shares of Upstart from $42.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Needham & Company LLC restated a “buy” rating and issued a $70.00 price target on shares of Upstart in a research report on Monday, May 19th. Morgan Stanley dropped their price objective on shares of Upstart from $70.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group upped their price objective on shares of Upstart from $15.00 to $16.50 and gave the company a “sell” rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Upstart currently has an average rating of “Hold” and an average price target of $67.42.

Upstart Profile

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar loans that connects consumer demand for loans to its to bank and credit unions.