Indiana Trust & Investment Management Co Invests $43,000 in Upstart Holdings, Inc. (NASDAQ:UPST)

Indiana Trust & Investment Management Co acquired a new stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,085 shares of the company’s stock, valued at approximately $43,000.

Other large investors have also added to or reduced their stakes in the company. Anfield Capital Management LLC bought a new position in shares of Upstart during the second quarter valued at $33,000. Benjamin F. Edwards & Company Inc. raised its holdings in Upstart by 80.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock worth $47,000 after buying an additional 778 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Upstart by 259.0% in the second quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock worth $52,000 after buying an additional 1,590 shares in the last quarter. Comerica Bank grew its holdings in shares of Upstart by 144.0% during the first quarter. Comerica Bank now owns 2,313 shares of the company’s stock valued at $62,000 after buying an additional 1,365 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Upstart by 18.2% during the second quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock valued at $63,000 after acquiring an additional 409 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insider Activity

In other Upstart news, insider Natalia Mirgorodskaya sold 1,264 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were 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 in the company, valued at approximately $942,006.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Scott Darling sold 84,000 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $50.02, for a total value of $4,201,680.00. Following the completion of the transaction, the insider now owns 152,043 shares of the company’s stock, valued at $7,605,190.86. This represents a 0.00 % 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 1,264 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $38.36, for a total value of $48,487.04. Following the sale, the insider now owns 24,557 shares of the company’s stock, valued at $942,006.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,959 shares of company stock valued at $13,641,350 in the last ninety days. Corporate insiders own 18.06% of the company’s stock.

Upstart Trading Up 2.8 %

Shares of UPST stock opened at $54.38 on Thursday. Upstart Holdings, Inc. has a 12 month low of $19.84 and a 12 month high of $57.40. The stock has a market cap of $4.87 billion, a P/E ratio of -23.24 and a beta of 2.01. The company has a 50 day simple moving average of $39.94 and a two-hundred day simple moving average of $30.04.

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

Analysts Set New Price Targets

Several brokerages have commented on UPST. Barclays increased their target price on Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Mizuho increased their price objective on Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Piper Sandler boosted their target price on Upstart from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.50.

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.