Key Points
- Upstart CEO Paul Gu bought 50,000 shares at $27.50 each, spending $1.375 million and boosting his holdings to 70,000 shares. The insider purchase may be seen as a signal of management confidence in the company.
- Upstart’s stock was up 10.1% and recently traded at $29.71, near the lower end of its 12-month range of $23.97 to $87.30. The company’s market cap is about $2.84 billion.
- The company recently reported mixed quarterly results, missing EPS estimates at a loss of $0.07 per share but beating revenue expectations with $308.21 million, up 44.3% year over year. Wall Street’s consensus remains cautious, with an average Hold rating and a target price of $45.79.
Upstart Holdings, Inc. (NASDAQ:UPST - Get Free Report) CEO Paul Gu acquired 50,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of $27.50 per share, with a total value of $1,375,000.00. Following the completion of the acquisition, the chief executive officer owned 70,000 shares in the company, valued at approximately $1,925,000. The trade was a 250.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Upstart Trading Up 10.1%
Shares of NASDAQ UPST opened at $29.71 on Friday. Upstart Holdings, Inc. has a 12-month low of $23.97 and a 12-month high of $87.30. The company has a market cap of $2.84 billion, a P/E ratio of 78.18, a P/E/G ratio of 0.72 and a beta of 2.26. The stock has a fifty day moving average price of $28.68 and a 200 day moving average price of $37.23.
Upstart (NASDAQ:UPST - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.46). Upstart had a net margin of 4.34% and a return on equity of 5.63%. The company had revenue of $308.21 million during the quarter, compared to analyst estimates of $301.30 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The firm's revenue for the quarter was up 44.3% on a year-over-year basis. On average, sell-side analysts forecast that Upstart Holdings, Inc. will post 0.92 EPS for the current fiscal year.
Upstart announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 19th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.
More Upstart News
Here are the key news stories impacting Upstart this week:
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on UPST. Citigroup downgraded Upstart from a "buy" rating to a "strong sell" rating in a report on Friday, February 13th. Needham & Company LLC lowered their price target on Upstart from $40.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, May 6th. Morgan Stanley set a $35.00 price target on Upstart in a report on Thursday, May 7th. Zacks Research upgraded Upstart from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Finally, Truist Financial set a $40.00 price target on Upstart in a report on Wednesday, May 6th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Upstart has an average rating of "Hold" and a consensus target price of $45.79.
Read Our Latest Analysis on UPST
Institutional Trading of Upstart
Several large investors have recently modified their holdings of the business. Cresset Asset Management LLC grew its stake in shares of Upstart by 3.3% during the second quarter. Cresset Asset Management LLC now owns 5,241 shares of the company's stock valued at $339,000 after acquiring an additional 169 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Upstart by 3.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,448 shares of the company's stock valued at $386,000 after acquiring an additional 218 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Upstart by 29.1% during the second quarter. Daiwa Securities Group Inc. now owns 1,068 shares of the company's stock valued at $69,000 after acquiring an additional 241 shares in the last quarter. Advisory Services Network LLC grew its stake in shares of Upstart by 5.3% during the second quarter. Advisory Services Network LLC now owns 5,399 shares of the company's stock valued at $349,000 after acquiring an additional 272 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Upstart by 0.4% during the second quarter. California State Teachers Retirement System now owns 76,368 shares of the company's stock valued at $4,939,000 after acquiring an additional 332 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.
About Upstart
(
Get Free Report)
Upstart Holdings, Inc operates a cloud-based lending marketplace that leverages artificial intelligence and machine learning to assess borrower creditworthiness. The company partners with banks and credit unions, providing its proprietary AI models and underwriting platform to facilitate consumer credit products. By focusing on non‐traditional data points—such as education, employment history and other real‐time indicators—Upstart seeks to improve approval rates and lower loss rates compared with conventional credit scoring methods.
Upstart's core offering centers on unsecured personal loans, which borrowers can use for purposes such as debt consolidation, home improvements or major purchases.
Further Reading
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