PNC Financial Services Group Inc. Has $714,000 Stock Position in Upstart Holdings, Inc. (NASDAQ:UPST)

PNC Financial Services Group Inc. lifted its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 112.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,255 shares of the company’s stock after purchasing an additional 1,192 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Upstart were worth $714,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in UPST. Credit Suisse AG acquired a new position in Upstart in the 2nd quarter valued at $8,866,000. Legal & General Group Plc grew its stake in Upstart by 791.1% in the 2nd quarter. Legal & General Group Plc now owns 9,392 shares of the company’s stock valued at $1,173,000 after buying an additional 8,338 shares during the last quarter. First Bancorp Inc ME acquired a new position in Upstart in the 3rd quarter valued at $334,000. BlackRock Inc. grew its stake in Upstart by 3.6% in the 2nd quarter. BlackRock Inc. now owns 613,850 shares of the company’s stock valued at $76,672,000 after buying an additional 21,256 shares during the last quarter. Finally, UBS Asset Management Americas Inc. acquired a new position in Upstart in the 2nd quarter valued at $2,839,000. Institutional investors own 51.49% of the company’s stock.

In related news, SVP Paul Gu sold 39,000 shares of Upstart stock in a transaction dated Monday, November 15th. The shares were sold at an average price of $244.94, for a total transaction of $9,552,660.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Alison Nicoll sold 7,500 shares of Upstart stock in a transaction dated Wednesday, January 12th. The shares were sold at an average price of $121.74, for a total transaction of $913,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,705,366 shares of company stock valued at $349,853,904 over the last ninety days. 25.20% of the stock is owned by insiders.

UPST has been the topic of a number of research analyst reports. Wedbush initiated coverage on shares of Upstart in a research note on Wednesday, December 22nd. They issued a “neutral” rating and a $160.00 target price on the stock. Jefferies Financial Group lowered shares of Upstart from a “buy” rating to a “hold” rating and raised their target price for the company from $160.00 to $330.00 in a research note on Tuesday, October 26th. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and set a $350.00 price target on the stock in a research report on Friday, December 3rd. JMP Securities decreased their price target on shares of Upstart from $327.00 to $315.00 and set a “market outperform” rating on the stock in a research report on Monday, November 15th. Finally, Piper Sandler decreased their price target on shares of Upstart from $300.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $271.36.

NASDAQ:UPST opened at $111.11 on Friday. The company has a 50-day moving average of $177.18 and a 200-day moving average of $213.87. The company has a market capitalization of $9.11 billion and a price-to-earnings ratio of 138.89. Upstart Holdings, Inc. has a 52 week low of $42.51 and a 52 week high of $401.49.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, November 9th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.39. The company had revenue of $228.45 million during the quarter, compared to the consensus estimate of $213.46 million. Upstart had a net margin of 12.30% and a return on equity of 15.32%. As a group, equities research analysts predict that Upstart Holdings, Inc. will post 0.98 earnings per share for the current fiscal year.

Upstart Company Profile

Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform. The company's platform aggregates consumer demand for loans and connects it to its network of the company's AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.

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Institutional Ownership by Quarter for Upstart (NASDAQ:UPST)

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