Raymond James Financial Inc. Cuts Stock Holdings in Upstart Holdings, Inc. $UPST

Raymond James Financial Inc. trimmed its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 2.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,678 shares of the company’s stock after selling 3,562 shares during the period. Raymond James Financial Inc. owned 0.12% of Upstart worth $5,463,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of UPST. Virtus Fund Advisers LLC bought a new position in Upstart during the fourth quarter valued at $32,000. Mackenzie Financial Corp bought a new stake in shares of Upstart in the 4th quarter worth about $62,000. Ancora Advisors LLC lifted its holdings in shares of Upstart by 31.3% in the 4th quarter. Ancora Advisors LLC now owns 1,575 shares of the company’s stock worth $97,000 after acquiring an additional 375 shares during the last quarter. GAMMA Investing LLC increased its stake in Upstart by 23.3% in the 1st quarter. GAMMA Investing LLC now owns 1,662 shares of the company’s stock worth $77,000 after buying an additional 314 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Upstart by 385.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,950 shares of the company’s stock worth $90,000 after buying an additional 1,548 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

Upstart Trading Up 2.2%

Shares of NASDAQ UPST opened at $65.87 on Friday. Upstart Holdings, Inc. has a 12 month low of $31.40 and a 12 month high of $96.43. The company has a 50 day simple moving average of $72.84 and a two-hundred day simple moving average of $58.78. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of -823.38 and a beta of 2.37.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. Upstart had a negative net margin of 0.75% and a negative return on equity of 5.95%. The firm had revenue of $257.29 million for the quarter, compared to the consensus estimate of $225.35 million. During the same period in the prior year, the firm posted ($0.17) earnings per share. The firm’s quarterly revenue was up 101.6% compared to the same quarter last year. Upstart has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Insider Buying and Selling

In other news, insider Natalia Mirgorodskaya sold 1,439 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $69.21, for a total transaction of $99,593.19. Following the completion of the sale, the insider owned 21,081 shares of the company’s stock, valued at $1,459,016.01. This represents a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kerry Whorton Cooper sold 500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $69.21, for a total transaction of $34,605.00. Following the sale, the director directly owned 25,434 shares of the company’s stock, valued at $1,760,287.14. The trade was a 1.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 200,081 shares of company stock worth $13,010,750 in the last 90 days. 16.67% of the stock is owned by insiders.

Analysts Set New Price Targets

UPST has been the topic of a number of research reports. Stephens initiated coverage on shares of Upstart in a research report on Thursday, June 12th. They set an “equal weight” rating and a $55.00 target price on the stock. Morgan Stanley reaffirmed an “equal weight” rating on shares of Upstart in a research report on Wednesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price objective (up previously from $70.00) on shares of Upstart in a research report on Wednesday, August 6th. Bank of America lowered their target price on shares of Upstart from $88.00 to $87.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Finally, Barclays lifted their target price on shares of Upstart from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $78.54.

Upstart Company 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.