Left Brain Wealth Management LLC Sells 3,500 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Left Brain Wealth Management LLC lowered its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 30.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,170 shares of the company's stock after selling 3,500 shares during the period. Left Brain Wealth Management LLC's holdings in Upstart were worth $376,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its holdings in shares of Upstart by 24.2% in the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company's stock valued at $54,000 after purchasing an additional 172 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Upstart by 23.3% in the first quarter. GAMMA Investing LLC now owns 1,662 shares of the company's stock valued at $77,000 after purchasing an additional 314 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Upstart by 1.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 24,352 shares of the company's stock valued at $1,121,000 after purchasing an additional 322 shares in the last quarter. Crestline Management LP lifted its holdings in shares of Upstart by 3.8% in the fourth quarter. Crestline Management LP now owns 10,004 shares of the company's stock valued at $616,000 after purchasing an additional 364 shares in the last quarter. Finally, Ancora Advisors LLC lifted its holdings in shares of Upstart by 31.3% in the fourth quarter. Ancora Advisors LLC now owns 1,575 shares of the company's stock valued at $97,000 after purchasing an additional 375 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Upstart Trading Down 4.3%

Shares of NASDAQ UPST traded down $3.41 during mid-day trading on Friday, hitting $75.62. The company had a trading volume of 5,279,772 shares, compared to its average volume of 6,935,500. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of -100.83 and a beta of 2.37. Upstart Holdings, Inc. has a 1 year low of $20.60 and a 1 year high of $96.43. The stock's 50-day moving average price is $56.64 and its 200-day moving average price is $56.94.

Upstart (NASDAQ:UPST - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.19 by $0.11. Upstart had a negative return on equity of 15.27% and a negative net margin of 9.20%. The business had revenue of $213.37 million during the quarter, compared to analysts' expectations of $201.08 million. During the same period in the previous year, the business earned ($0.31) earnings per share. The firm's revenue was up 67.0% on a year-over-year basis. As a group, equities research analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Dave Girouard sold 41,667 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $60.05, for a total transaction of $2,502,103.35. Following the completion of the transaction, the chief executive officer directly owned 52,614 shares in the company, valued at $3,159,470.70. The trade was a 44.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Natalia Mirgorodskaya sold 6,533 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $70.06, for a total value of $457,701.98. Following the transaction, the insider owned 24,623 shares of the company's stock, valued at approximately $1,725,087.38. The trade was a 20.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,983 shares of company stock worth $6,537,899 over the last ninety days. 16.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on UPST. Needham & Company LLC reiterated a "buy" rating and set a $70.00 price target on shares of Upstart in a report on Monday, May 19th. Bank of America upgraded Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price target on the stock in a report on Tuesday, April 29th. Piper Sandler upgraded Upstart to an "overweight" rating and set a $75.00 price target on the stock in a report on Tuesday, June 24th. Barclays boosted their target price on Upstart from $42.00 to $47.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Finally, Stephens initiated coverage on Upstart in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $55.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $67.42.

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.