VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 22,500 Upstart Holdings, Inc. $UPST

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 22,500 shares of the company’s stock, valued at approximately $1,455,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of UPST. Ameritas Advisory Services LLC bought a new stake in shares of Upstart during the second quarter valued at about $34,000. GAMMA Investing LLC increased its position in shares of Upstart by 23.3% during the first quarter. GAMMA Investing LLC now owns 1,662 shares of the company’s stock valued at $77,000 after buying an additional 314 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Upstart by 385.1% during the first quarter. PNC Financial Services Group Inc. now owns 1,950 shares of the company’s stock valued at $90,000 after buying an additional 1,548 shares during the period. NewEdge Advisors LLC increased its position in shares of Upstart by 20.0% during the first quarter. NewEdge Advisors LLC now owns 1,997 shares of the company’s stock valued at $92,000 after buying an additional 333 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in shares of Upstart by 71.2% during the first quarter. Asset Management One Co. Ltd. now owns 2,010 shares of the company’s stock valued at $93,000 after buying an additional 836 shares during the period. 63.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler set a $80.00 price target on Upstart in a research report on Monday. Needham & Company LLC restated a “buy” rating and issued a $82.00 price objective (up from $70.00) on shares of Upstart in a research report on Wednesday, August 6th. JPMorgan Chase & Co. upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $93.00 to $88.00 in a research report on Wednesday, August 20th. The Goldman Sachs Group decreased their price objective on shares of Upstart from $78.00 to $54.00 and set a “sell” rating on the stock in a research report on Monday, October 13th. Finally, Bank of America decreased their price objective on shares of Upstart from $88.00 to $87.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $78.83.

Upstart Trading Down 3.8%

UPST stock opened at $50.38 on Thursday. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of -629.75 and a beta of 2.28. The company’s 50 day moving average is $60.53 and its 200 day moving average is $59.03. Upstart Holdings, Inc. has a 1-year low of $31.40 and a 1-year high of $96.43.

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

Insiders Place Their Bets

In other Upstart news, CTO Paul Gu sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $68.61, for a total value of $343,050.00. Following the completion of the sale, the chief technology officer owned 1,147,156 shares of the company’s stock, valued at $78,706,373.16. This represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sanjay Datta sold 13,473 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $61.12, for a total value of $823,469.76. Following the completion of the sale, the chief financial officer directly owned 297,904 shares of the company’s stock, valued at approximately $18,207,892.48. This represents a 4.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,214 shares of company stock valued at $6,803,558 over the last 90 days. Company insiders own 16.67% of the company’s stock.

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.