Atria Wealth Solutions Inc. Sells 11,043 Shares of Upstart Holdings, Inc. $UPST

Key Points

• Atria Wealth Solutions Inc. significantly reduced its holdings in Upstart Holdings by 58.1%, now owning 7,966 shares worth approximately $367,000.
• Analysts' ratings for Upstart vary, with a consensus rating of "Hold" and a consensus price target of $77.85, while Piper Sandler recently raised its target to $90.00.
• Upstart reported a 101.6% year-over-year increase in revenue, reaching $257.29 million for the last quarter, and exceeded earnings expectations with an EPS of $0.36.

Atria Wealth Solutions Inc. decreased its position in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 58.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,966 shares of the company's stock after selling 11,043 shares during the period. Atria Wealth Solutions Inc.'s holdings in Upstart were worth $367,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new stake in shares of Upstart during the first quarter worth about $550,000. Cerity Partners LLC bought a new stake in Upstart during the 4th quarter worth approximately $209,000. Rakuten Securities Inc. raised its holdings in Upstart by 482.3% during the 1st quarter. Rakuten Securities Inc. now owns 2,888 shares of the company's stock worth $133,000 after buying an additional 2,392 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Upstart by 175.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,712 shares of the company's stock valued at $585,000 after buying an additional 8,098 shares in the last quarter. Finally, Simplicity Wealth LLC acquired a new position in shares of Upstart in the first quarter valued at approximately $1,712,000. 63.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Upstart

In related news, CEO Dave Girouard sold 41,667 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $75.07, for a total value of $3,127,941.69. Following the completion of the sale, the chief executive officer directly owned 52,614 shares in the company, valued at $3,949,732.98. The trade was a 44.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sanjay Datta sold 13,512 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $46.97, for a total value of $634,658.64. Following the completion of the transaction, the chief financial officer directly owned 311,356 shares in the company, valued at approximately $14,624,391.32. This represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 151,650 shares of company stock valued at $9,665,841 in the last three months. 16.67% of the stock is currently owned by company insiders.

Analyst Ratings Changes

UPST has been the subject of several research reports. Needham & Company LLC restated a "buy" rating and set a $82.00 price objective (up from $70.00) on shares of Upstart in a report on Wednesday, August 6th. Stephens assumed coverage on Upstart in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $55.00 price target on the stock. The Goldman Sachs Group raised Upstart to a "sell" rating and set a $71.00 price objective for the company in a research report on Monday, July 14th. Bank of America dropped their target price on Upstart from $88.00 to $87.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Finally, Morgan Stanley reaffirmed an "equal weight" rating on shares of Upstart in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $77.85.

Upstart Trading Up 1.9%

Shares of Upstart stock traded up $1.21 during trading on Monday, hitting $65.30. 2,363,827 shares of the stock were exchanged, compared to its average volume of 6,318,073. The company has a fifty day moving average price of $70.11 and a 200-day moving average price of $59.01. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of -816.64 and a beta of 2.39. Upstart Holdings, Inc. has a 1-year low of $31.40 and a 1-year high of $96.43.

Upstart (NASDAQ:UPST - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.09. Upstart had a negative return on equity of 5.95% and a negative net margin of 0.75%. The business had revenue of $257.29 million during the quarter, compared to the consensus estimate of $225.35 million. During the same quarter last year, the firm posted ($0.17) EPS. The company's quarterly revenue was up 101.6% on a year-over-year basis. Equities research analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS 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.