OMERS ADMINISTRATION Corp Purchases New Stake in Upstart Holdings, Inc. $UPST

OMERS ADMINISTRATION Corp bought a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,200 shares of the company’s stock, valued at approximately $1,501,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. KADENSA CAPITAL Ltd acquired a new position in shares of Upstart in the first quarter worth approximately $18,972,000. Sierra Summit Advisors LLC bought a new stake in Upstart during the second quarter valued at $991,000. Tableaux LLC acquired a new stake in Upstart during the 2nd quarter worth about $2,587,000. Prudential Financial Inc. raised its position in shares of Upstart by 1,116.8% in the 2nd quarter. Prudential Financial Inc. now owns 89,675 shares of the company’s stock worth $5,800,000 after acquiring an additional 82,305 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in shares of Upstart by 70.8% in the 1st quarter. Intech Investment Management LLC now owns 74,134 shares of the company’s stock valued at $3,412,000 after purchasing an additional 30,739 shares during the period. Institutional investors own 63.01% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Paul Gu purchased 100,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was bought at an average price of $39.23 per share, with a total value of $3,923,000.00. Following the completion of the transaction, the chief technology officer owned 80,000 shares of the company’s stock, valued at approximately $3,138,400. This represents a -500.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sanjay Datta sold 13,624 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $36.58, for a total transaction of $498,365.92. Following the transaction, the chief financial officer owned 284,280 shares in the company, valued at approximately $10,398,962.40. The trade was a 4.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 56,874 shares of company stock valued at $3,263,519 over the last quarter. Corporate insiders own 16.67% of the company’s stock.

Upstart Stock Performance

Upstart stock opened at $42.70 on Wednesday. The stock has a 50-day moving average of $46.53 and a two-hundred day moving average of $58.85. The stock has a market cap of $4.15 billion, a PE ratio of 194.10 and a beta of 2.27. Upstart Holdings, Inc. has a one year low of $31.40 and a one year high of $96.43.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.42 by $0.10. Upstart had a net margin of 3.33% and a return on equity of 3.68%. The company had revenue of $258.54 million during the quarter, compared to analyst estimates of $288.94 million. During the same quarter in the previous year, the firm earned ($0.07) EPS. The firm’s revenue was up 70.9% compared to the same quarter last year. As a group, sell-side analysts predict that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on UPST shares. Stephens cut their price target on Upstart from $55.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Needham & Company LLC reduced their price target on shares of Upstart from $82.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Piper Sandler decreased their price target on Upstart from $80.00 to $56.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Upstart in a research report on Monday. Finally, BTIG Research reiterated a “neutral” rating on shares of Upstart in a research note on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.50.

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.