Truist Financial Corp Buys 4,567 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Truist Financial Corp increased its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 20.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,113 shares of the company's stock after acquiring an additional 4,567 shares during the quarter. Truist Financial Corp's holdings in Upstart were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of UPST. Rhumbline Advisers grew its holdings in shares of Upstart by 3.6% in the fourth quarter. Rhumbline Advisers now owns 112,147 shares of the company's stock worth $6,905,000 after purchasing an additional 3,922 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Upstart by 49.1% during the fourth quarter. Blue Trust Inc. now owns 1,475 shares of the company's stock worth $91,000 after purchasing an additional 486 shares during the period. Vontobel Holding Ltd. bought a new stake in shares of Upstart in the fourth quarter worth about $234,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Upstart during the 4th quarter valued at about $235,000. Finally, Bristlecone Advisors LLC lifted its holdings in Upstart by 125.0% in the 4th quarter. Bristlecone Advisors LLC now owns 14,520 shares of the company's stock worth $894,000 after buying an additional 8,066 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Natalia Mirgorodskaya sold 794 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $62,741.88. Following the sale, the insider now owns 21,985 shares of the company's stock, valued at $1,737,254.70. This trade represents a 3.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sanjay Datta sold 16,070 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $1,269,851.40. Following the transaction, the chief financial officer now directly owns 295,537 shares in the company, valued at $23,353,333.74. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,081 shares of company stock worth $5,548,607 over the last 90 days. 18.06% of the stock is currently owned by insiders.

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Upstart Trading Down 7.6 %

Upstart stock traded down $5.05 during mid-day trading on Monday, hitting $61.62. The company had a trading volume of 3,216,549 shares, compared to its average volume of 6,336,972. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $96.43. The stock's 50 day moving average price is $67.63 and its two-hundred day moving average price is $58.67. The company has a market capitalization of $5.77 billion, a PE ratio of -41.95 and a beta of 2.25.

Upstart (NASDAQ:UPST - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. Equities research analysts anticipate that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on UPST shares. B. Riley upgraded Upstart from a "neutral" rating to a "buy" rating and upped their target price for the company from $49.00 to $105.00 in a report on Wednesday, February 12th. Needham & Company LLC lifted their target price on shares of Upstart from $100.00 to $108.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. upgraded shares of Upstart from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $57.00 to $79.00 in a research report on Wednesday, February 12th. Barclays raised their price objective on shares of Upstart from $80.00 to $93.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 18th. Finally, Piper Sandler reissued an "overweight" rating and issued a $105.00 target price (up previously from $85.00) on shares of Upstart in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Upstart has an average rating of "Hold" and an average price target of $73.38.

Upstart Company 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.