Gryphon Financial Partners LLC Cuts Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

Gryphon Financial Partners LLC reduced its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 25.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 30,000 shares of the company’s stock after selling 10,000 shares during the period. Gryphon Financial Partners LLC’s holdings in Upstart were worth $708,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Anfield Capital Management LLC purchased a new stake in shares of Upstart in the 2nd quarter valued at approximately $33,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Upstart by 80.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after purchasing an additional 778 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Upstart by 259.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock valued at $52,000 after purchasing an additional 1,590 shares during the last quarter. BOCHK Asset Management Ltd purchased a new stake in shares of Upstart in the 4th quarter valued at approximately $61,000. Finally, Comerica Bank increased its position in shares of Upstart by 144.0% in the 1st quarter. Comerica Bank now owns 2,313 shares of the company’s stock valued at $62,000 after purchasing an additional 1,365 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Upstart

In other news, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $27.80, for a total value of $27,800.00. Following the completion of the sale, the chief financial officer now directly owns 374,398 shares of the company’s stock, valued at approximately $10,408,264.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Natalia Mirgorodskaya sold 1,264 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $38.36, for a total transaction of $48,487.04. Following the sale, the insider now owns 24,557 shares of the company’s stock, valued at approximately $942,006.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sanjay Datta sold 1,000 shares of Upstart stock in a transaction on Monday, July 15th. The stock was sold at an average price of $27.80, for a total value of $27,800.00. Following the transaction, the chief financial officer now directly owns 374,398 shares of the company’s stock, valued at $10,408,264.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,959 shares of company stock valued at $5,938,419. 18.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on UPST shares. JPMorgan Chase & Co. increased their price objective on shares of Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Redburn Atlantic raised shares of Upstart from a “sell” rating to a “neutral” rating and increased their price objective for the company from $22.50 to $25.50 in a research report on Tuesday, June 4th. Piper Sandler lifted their price target on shares of Upstart from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of Upstart in a research note on Thursday, August 8th. Finally, Mizuho upgraded Upstart from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $17.00 to $31.00 in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.75.

Upstart Price Performance

Shares of NASDAQ UPST opened at $35.45 on Tuesday. The company has a market cap of $3.17 billion, a PE ratio of -17.08 and a beta of 2.02. The stock has a fifty day moving average price of $32.00 and a 200 day moving average price of $27.16. Upstart Holdings, Inc. has a 1-year low of $19.84 and a 1-year high of $49.62.

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

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.