SCS Capital Management LLC Invests $1.24 Million in Upstart Holdings, Inc. $UPST

SCS Capital Management LLC bought a new position in Upstart Holdings, Inc. (NASDAQ:UPST) during the second quarter, according to its most recent filing with the SEC. The firm bought 35,000 shares of the company’s stock, valued at approximately $1,240,000.

Several other hedge funds have also bought and sold shares of UPST. Jericho Capital Asset Management L.P. lifted its stake in shares of Upstart by 11.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 5,011,809 shares of the company’s stock valued at $219,166,000 after buying an additional 531,000 shares in the last quarter. Morgan Stanley increased its position in shares of Upstart by 154.6% during the fourth quarter. Morgan Stanley now owns 4,206,615 shares of the company’s stock worth $183,955,000 after acquiring an additional 2,554,591 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Upstart by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,068,515 shares of the company’s stock worth $90,469,000 after acquiring an additional 26,734 shares in the last quarter. Halter Ferguson Financial Inc. raised its holdings in shares of Upstart by 253.3% in the 1st quarter. Halter Ferguson Financial Inc. now owns 1,467,360 shares of the company’s stock worth $37,638,000 after acquiring an additional 1,052,039 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Upstart in the 4th quarter worth about $49,915,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BTIG Research reiterated a “buy” rating and set a $43.00 price target on shares of Upstart in a research note on Wednesday, August 5th. Wall Street Zen raised Upstart from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Truist Financial set a $40.00 target price on Upstart in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Upstart in a research report on Monday, August 3rd. Finally, Needham & Company LLC upped their price target on Upstart from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.40.

Upstart Stock Performance

Upstart stock opened at $30.43 on Monday. Upstart Holdings, Inc. has a fifty-two week low of $23.97 and a fifty-two week high of $76.95. The stock has a market cap of $2.96 billion, a PE ratio of 62.10, a price-to-earnings-growth ratio of 1.07 and a beta of 2.29. The firm’s 50-day simple moving average is $31.03 and its 200 day simple moving average is $30.66.

Upstart (NASDAQ:UPST) last issued 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). Upstart had a return on equity of 7.13% and a net margin of 4.84%.The firm had revenue of $364.71 million during the quarter, compared to the consensus estimate of $354.74 million. During the same period in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 41.9% on a year-over-year basis. As a group, analysts predict that Upstart Holdings, Inc. will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Sanjay Datta sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $30.41, for a total value of $456,150.00. Following the completion of the transaction, the insider directly owned 313,556 shares of the company’s stock, valued at $9,535,237.96. This represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Natalia Mirgorodskaya sold 974 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $28.99, for a total value of $28,236.26. Following the sale, the insider directly owned 37,374 shares of the company’s stock, valued at $1,083,472.26. The trade was a 2.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 24,485 shares of company stock worth $729,248 in the last 90 days. Company insiders own 17.29% of the company’s stock.

Upstart Profile

Upstart Holdings, Inc operates a cloud-based lending marketplace that leverages artificial intelligence and machine learning to assess borrower creditworthiness. The company partners with banks and credit unions, providing its proprietary AI models and underwriting platform to facilitate consumer credit products. By focusing on non?traditional data points—such as education, employment history and other real?time indicators—Upstart seeks to improve approval rates and lower loss rates compared with conventional credit scoring methods.

Upstart’s core offering centers on unsecured personal loans, which borrowers can use for purposes such as debt consolidation, home improvements or major purchases.