State of New Jersey Common Pension Fund D Boosts Stake in Upstart Holdings, Inc. $UPST

State of New Jersey Common Pension Fund D lifted its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 44.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,276 shares of the company’s stock after purchasing an additional 12,617 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Upstart were worth $2,670,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of UPST. GAMMA Investing LLC boosted its holdings in Upstart by 23.3% during the 1st quarter. GAMMA Investing LLC now owns 1,662 shares of the company’s stock valued at $77,000 after acquiring an additional 314 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Upstart by 175.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,712 shares of the company’s stock valued at $585,000 after purchasing an additional 8,098 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Upstart by 71.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 2,010 shares of the company’s stock valued at $93,000 after purchasing an additional 836 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Upstart by 106.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,138 shares of the company’s stock valued at $1,341,000 after purchasing an additional 15,045 shares during the last quarter. Finally, KBC Group NV raised its position in Upstart by 21.1% during the 1st quarter. KBC Group NV now owns 3,741 shares of the company’s stock valued at $172,000 after purchasing an additional 653 shares during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CTO Paul Gu sold 5,000 shares of Upstart stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $68.61, for a total value of $343,050.00. Following the sale, the chief technology officer directly owned 1,147,156 shares of the company’s stock, valued at approximately $78,706,373.16. The trade was a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,439 shares of Upstart stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $69.21, for a total value of $99,593.19. Following the completion of the sale, the insider directly owned 21,081 shares in the company, valued at $1,459,016.01. This trade represents a 6.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 106,214 shares of company stock valued at $6,803,558. Insiders own 16.67% of the company’s stock.

Upstart Stock Performance

NASDAQ UPST opened at $50.70 on Wednesday. The company has a market capitalization of $4.88 billion, a PE ratio of -633.75 and a beta of 2.28. The business’s fifty day moving average is $59.60 and its 200 day moving average is $59.67. Upstart Holdings, Inc. has a fifty-two week low of $31.40 and a fifty-two week high of $96.43.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.09. Upstart had a negative return on equity of 5.95% and a negative net margin of 0.75%.The company had revenue of $257.29 million for the quarter, compared to the consensus estimate of $225.35 million. During the same period in the previous year, the business earned ($0.17) earnings per share. Upstart’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. On average, sell-side analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Piper Sandler set a $80.00 price target on Upstart in a research report on Monday, October 20th. Morgan Stanley reissued an “equal weight” rating on shares of Upstart in a research report on Wednesday, August 6th. JPMorgan Chase & Co. raised Upstart from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $93.00 to $88.00 in a research report on Wednesday, August 20th. The Goldman Sachs Group reduced their price objective on Upstart from $78.00 to $54.00 and set a “sell” rating for the company in a research report on Monday, October 13th. Finally, Bank of America reduced their target price on Upstart from $88.00 to $87.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $78.83.

About Upstart

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.