Halter Ferguson Financial Inc. Sells 331,636 Shares of Upstart Holdings, Inc. $UPST

by · The Cerbat Gem

Halter Ferguson Financial Inc. lowered its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST – Free Report) by 19.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,416,483 shares of the company’s stock after selling 331,636 shares during the period. Upstart accounts for approximately 5.6% of Halter Ferguson Financial Inc.’s investment portfolio, making the stock its 8th biggest holding. Halter Ferguson Financial Inc.’s holdings in Upstart were worth $32,565,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Upstart by 267.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,022,780 shares of the company’s stock valued at $26,234,000 after purchasing an additional 744,190 shares during the period. Bank of New York Mellon Corp bought a new position in Upstart during the 2nd quarter worth $9,681,000. Alberta Investment Management Corp bought a new position in Upstart during the 2nd quarter worth $8,461,000. Maxi Investments CY Ltd bought a new position in Upstart during the 2nd quarter worth $6,852,000. Finally, Deutsche Bank AG bought a new position in Upstart during the 2nd quarter worth $3,385,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UPST has been the subject of a number of research reports. Citizens Jmp dropped their target price on Upstart from $20.00 to $18.00 and set a “market underperform” rating for the company in a report on Thursday, October 15th. The Goldman Sachs Group decreased their price target on shares of Upstart from $39.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Loop Capital started coverage on shares of Upstart in a research report on Tuesday, September 8th. They set a “hold” rating and a $34.00 price target on the stock. Weiss Ratings cut shares of Upstart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, September 28th. Finally, Citigroup reiterated a “market underperform” rating on shares of Upstart in a research note on Thursday, October 15th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $42.94.

Read Our Latest Report on UPST

Upstart Trading Up 0.0%

Shares of Upstart stock opened at $23.66 on Thursday. The company has a 50 day moving average of $26.16 and a 200-day moving average of $29.10. Upstart Holdings, Inc. has a 1-year low of $22.21 and a 1-year high of $55.22. The company has a market cap of $2.30 billion, a PE ratio of 48.29, a price-to-earnings-growth ratio of 0.84 and a beta of 2.43.

Upstart (NASDAQ:UPST – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $364.71 million during the quarter, compared to the consensus estimate of $354.74 million. Upstart had a net margin of 4.84% and a return on equity of 7.13%. The business’s revenue was up 41.9% compared to the same quarter last year. During the same period last year, the business earned $0.36 earnings per share. Research analysts forecast that Upstart Holdings, Inc. will post 0.72 earnings per share for the current year.

Insiders Place Their Bets

In other Upstart news, insider Natalia Mirgorodskaya sold 913 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $30.03, for a total transaction of $27,417.39. Following the completion of the sale, the insider directly owned 35,875 shares in the company, valued at $1,077,326.25. This represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sanjay Datta sold 116,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $27.29, for a total value of $3,165,640.00. Following the completion of the sale, the insider directly owned 476,578 shares in the company, valued at approximately $13,005,813.62. This represents a 19.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 148,652 shares of company stock valued at $4,133,720 over the last ninety days. Company insiders own 17.29% of the company’s stock.

Upstart Profile

(Free Report)

Upstart Holdings, Inc (NASDAQ: UPST) operates an artificial intelligence-powered lending marketplace. Its platform connects consumers seeking credit with banks and credit unions, using data-driven underwriting models designed to evaluate applicants beyond traditional credit-score-based methods.

The company provides technology for several lending categories, including personal loans, automotive retail and refinance lending, home equity lines of credit, and small-dollar lending. Upstart’s platform supports financial institutions with application processing, risk assessment, loan origination, and related automation, while offering consumers a digital borrowing experience.

Founded in 2012, Upstart is headquartered in San Mateo, California, and primarily serves the United States.

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