TCI Wealth Advisors Inc. Boosts Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

TCI Wealth Advisors Inc. grew its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 20.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,590 shares of the company's stock after buying an additional 6,395 shares during the quarter. TCI Wealth Advisors Inc.'s holdings in Upstart were worth $1,730,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Upstart by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company's stock worth $479,843,000 after acquiring an additional 369,640 shares during the period. Two Sigma Investments LP increased its position in shares of Upstart by 20.1% during the 4th quarter. Two Sigma Investments LP now owns 1,922,770 shares of the company's stock valued at $118,385,000 after purchasing an additional 321,366 shares during the last quarter. Fred Alger Management LLC raised its stake in shares of Upstart by 53.6% during the 4th quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company's stock worth $117,914,000 after purchasing an additional 668,282 shares during the period. Geode Capital Management LLC raised its stake in shares of Upstart by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,846,438 shares of the company's stock worth $113,711,000 after purchasing an additional 29,664 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in shares of Upstart by 190.2% in the 4th quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company's stock worth $105,242,000 after buying an additional 1,120,300 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on UPST. Needham & Company LLC restated a "buy" rating and set a $70.00 price objective on shares of Upstart in a report on Monday, May 19th. Morgan Stanley reduced their target price on shares of Upstart from $70.00 to $50.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Barclays raised their price target on shares of Upstart from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Bank of America upgraded Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price objective on the stock in a research note on Tuesday, April 29th. Finally, Piper Sandler reduced their price objective on Upstart from $105.00 to $69.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $66.96.

Upstart Price Performance

NASDAQ:UPST opened at $59.08 on Thursday. Upstart Holdings, Inc. has a 1 year low of $20.60 and a 1 year high of $96.43. The stock's fifty day moving average price is $48.12 and its two-hundred day moving average price is $57.70. The company has a market cap of $5.62 billion, a P/E ratio of -78.77 and a beta of 2.29.

Upstart (NASDAQ:UPST - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.11. The company had revenue of $213.37 million for the quarter, compared to analyst estimates of $201.08 million. Upstart had a negative return on equity of 15.27% and a negative net margin of 9.20%. The firm's revenue for the quarter was up 67.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.31) EPS. On average, analysts expect that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Transactions at Upstart

In other news, CEO Dave Girouard sold 41,667 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $60.11, for a total transaction of $2,504,603.37. Following the completion of the transaction, the chief executive officer now directly owns 52,614 shares in the company, valued at $3,162,627.54. The trade was a 44.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sanjay Datta sold 13,512 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $46.97, for a total value of $634,658.64. Following the completion of the sale, the chief financial officer now owns 311,356 shares in the company, valued at $14,624,391.32. This trade represents a 4.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,783 shares of company stock valued at $3,257,814. 16.67% of the stock is currently owned by corporate insiders.

Upstart Company 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.

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