Key Points
- CEO Paul Gu bought 50,000 Upstart shares at an average price of $20.57, investing about $1.03 million. The purchase increased his direct holdings by 38.46% to 180,000 shares.
- Upstart reported quarterly earnings of $0.33 per share, beating analyst estimates of $0.20, while revenue of $370.52 million also topped expectations and rose 33.7% year over year.
- Analysts have a consensus “Hold” rating and an average price target of $32.40. Shares were trading at $19.56, close to their 12-month low of $18.91.
Upstart Holdings, Inc. (NASDAQ:UPST - Get Free Report) CEO Paul Gu purchased 50,000 shares of the company's stock in a transaction dated Wednesday, November 11th. The shares were acquired at an average price of $20.57 per share, for a total transaction of $1,028,500.00. Following the purchase, the chief executive officer directly owned 180,000 shares of the company's stock, valued at approximately $3,702,600. The trade was a 38.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Paul Gu also recently made the following trade(s):
- On Thursday, September 10th, Paul Gu acquired 50,000 shares of Upstart stock. The shares were bought at an average price of $25.55 per share, for a total transaction of $1,277,500.00.
Upstart Stock Up 2.1%
Shares of Upstart stock traded up $0.41 during midday trading on Friday, hitting $19.56. The company had a trading volume of 5,013,744 shares, compared to its average volume of 5,150,480. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 1.86 and a beta of 2.48. The company has a fifty day simple moving average of $23.70 and a 200 day simple moving average of $28.76. Upstart Holdings, Inc. has a 12-month low of $18.91 and a 12-month high of $52.10.
Upstart (NASDAQ:UPST - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.13. The company had revenue of $370.52 million during the quarter, compared to analysts' expectations of $362.68 million. Upstart had a net margin of 4.86% and a return on equity of 9.67%. Upstart's revenue for the quarter was up 33.7% on a year-over-year basis. During the same period last year, the business earned $0.23 EPS. As a group, analysts expect that Upstart Holdings, Inc. will post 0.38 EPS for the current year.
Analysts Set New Price Targets
A number of research analysts have issued reports on UPST shares. Mizuho set a $35.00 price target on shares of Upstart in a report on Wednesday, November 4th. Stephens started coverage on Upstart in a research report on Wednesday, November 4th. They issued an "equal weight" rating and a $24.00 target price on the stock. B. Riley Financial restated a "buy" rating and issued a $42.00 target price (down from $54.00) on shares of Upstart in a research note on Wednesday, November 4th. Piper Sandler lifted their price target on Upstart from $46.00 to $51.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded Upstart from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Upstart presently has a consensus rating of "Hold" and a consensus target price of $32.40.
Check Out Our Latest Research Report on Upstart
Hedge Funds Weigh In On Upstart
Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC lifted its stake in Upstart by 76.7% during the 3rd quarter. Parallel Advisors LLC now owns 1,656 shares of the company's stock valued at $38,000 after acquiring an additional 719 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Upstart by 33.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,790 shares of the company's stock valued at $41,000 after acquiring an additional 446 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Upstart by 274.4% in the first quarter. Geneos Wealth Management Inc. now owns 1,842 shares of the company's stock worth $47,000 after acquiring an additional 1,350 shares during the period. Hollencrest Capital Management acquired a new stake in shares of Upstart in the first quarter worth $51,000. Finally, Sterling Capital Management LLC increased its stake in shares of Upstart by 838.2% in the third quarter. Sterling Capital Management LLC now owns 2,824 shares of the company's stock worth $65,000 after acquiring an additional 2,523 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.
About Upstart
(
Get Free Report)
Upstart Holdings, Inc. operates an artificial intelligence–based lending marketplace that connects consumers seeking loans with banks and credit unions. Its platform uses machine-learning models and borrower data to help lending partners assess credit risk and make lending decisions. The company's offerings include personal loans and technology for auto lending, including auto retail and refinancing. Upstart was founded in 2012 by Dave Girouard, Paul Gu and Anna Counselman. Girouard serves as the company's chief executive officer.
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