Metavasi Capital LP Purchases New Position in Upstart Holdings, Inc. $UPST

Metavasi Capital LP purchased a new stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) in the second quarter, Holdings Channel.com reports. The firm purchased 95,000 shares of the company’s stock, valued at approximately $6,145,000. Upstart accounts for about 2.5% of Metavasi Capital LP’s holdings, making the stock its 17th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in shares of Upstart in the second quarter valued at approximately $34,000. Steward Partners Investment Advisory LLC lifted its stake in Upstart by 72.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 864 shares of the company’s stock valued at $56,000 after acquiring an additional 362 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Upstart by 29.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,068 shares of the company’s stock worth $69,000 after acquiring an additional 241 shares during the last quarter. Bogart Wealth LLC boosted its holdings in Upstart by 140.0% during the 2nd quarter. Bogart Wealth LLC now owns 1,200 shares of the company’s stock worth $78,000 after acquiring an additional 700 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Upstart by 839.3% in the second quarter. Allworth Financial LP now owns 1,625 shares of the company’s stock valued at $105,000 after purchasing an additional 1,452 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Upstart Price Performance

Shares of NASDAQ UPST opened at $49.13 on Friday. The stock has a market capitalization of $4.78 billion, a PE ratio of 223.33 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. The business’s fifty day moving average price is $45.47 and its 200-day moving average price is $58.74.

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

Insider Buying and Selling at Upstart

In other Upstart news, CTO Paul Gu purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were bought at an average cost of $39.23 per share, for a total transaction of $3,923,000.00. Following the purchase, the chief technology officer owned 80,000 shares of the company’s stock, valued at $3,138,400. This represents a -500.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Natalia Mirgorodskaya sold 762 shares of Upstart stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $38.91, for a total transaction of $29,649.42. Following the completion of the transaction, the insider owned 26,398 shares of the company’s stock, valued at $1,027,146.18. This represents a 2.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 56,874 shares of company stock worth $3,263,519. 16.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on UPST. Weiss Ratings restated a “sell (d+)” rating on shares of Upstart in a report on Monday. The Goldman Sachs Group reissued a “sell” rating and set a $40.00 target price on shares of Upstart in a research report on Thursday, November 6th. Citigroup reduced their target price on Upstart from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Needham & Company LLC decreased their price target on Upstart from $82.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Morgan Stanley set a $45.00 price objective on Upstart in a research report on Wednesday, November 5th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Upstart presently has an average rating of “Hold” and an average price target of $60.50.

About Upstart

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.