Seven Eight Capital LP Purchases 34,223 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Seven Eight Capital LP boosted its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 18.1% in the second quarter, HoldingsChannel.com reports. The firm owned 223,608 shares of the company’s stock after acquiring an additional 34,223 shares during the period. Upstart accounts for approximately 0.6% of Seven Eight Capital LP’s investment portfolio, making the stock its 19th biggest holding. Seven Eight Capital LP’s holdings in Upstart were worth $5,275,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Anfield Capital Management LLC purchased a new stake in shares of Upstart during the second quarter worth about $33,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Upstart by 80.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock worth $47,000 after acquiring an additional 778 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Upstart by 259.0% during the second quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock worth $52,000 after acquiring an additional 1,590 shares during the last quarter. BOCHK Asset Management Ltd purchased a new stake in shares of Upstart during the fourth quarter worth about $61,000. Finally, Comerica Bank grew its stake in shares of Upstart by 144.0% during the first quarter. Comerica Bank now owns 2,313 shares of the company’s stock worth $62,000 after acquiring an additional 1,365 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

Upstart Trading Up 7.3 %

NASDAQ:UPST opened at $37.69 on Wednesday. The firm has a market cap of $3.31 billion, a PE ratio of -18.30 and a beta of 2.03. The stock has a fifty day moving average price of $33.52 and a 200 day moving average price of $27.60. Upstart Holdings, Inc. has a 12-month low of $19.84 and a 12-month high of $49.62.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.22. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The company had revenue of $127.63 million for the quarter, compared to analysts’ expectations of $124.55 million. During the same period last year, the firm earned ($0.34) earnings per share. Upstart’s quarterly revenue was down 6.0% on a year-over-year basis. Equities analysts forecast that Upstart Holdings, Inc. will post -2.39 EPS for the current year.

Insider Transactions at Upstart

In other news, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $34.85, for a total transaction of $52,275.00. Following the sale, the chief financial officer now owns 344,593 shares in the company, valued at $12,009,066.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chief Technology Officer Paul Gu sold 16,064 shares of Upstart stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $38.62, for a total transaction of $620,365.98. Following the sale, the insider now owns 878,565 shares in the company, valued at $33,928,774.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $34.85, for a total value of $52,275.00. Following the sale, the chief financial officer now owns 344,593 shares in the company, valued at approximately $12,009,066.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,459 shares of company stock worth $5,990,694. Corporate insiders own 18.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on UPST shares. Wedbush reiterated an “underperform” rating and issued a $10.00 price target on shares of Upstart in a report on Wednesday, August 7th. Redburn Atlantic upgraded shares of Upstart from a “sell” rating to a “neutral” rating and increased their price target for the stock from $22.50 to $25.50 in a report on Tuesday, June 4th. Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Barclays lifted their target price on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Piper Sandler raised their price target on shares of Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.75.

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.