Wealth Enhancement Advisory Services LLC Boosts Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Wealth Enhancement Advisory Services LLC raised its position in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 175.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,712 shares of the company's stock after purchasing an additional 8,098 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Upstart were worth $585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of UPST. Rakuten Securities Inc. purchased a new position in shares of Upstart in the 4th quarter valued at $31,000. Virtus Fund Advisers LLC purchased a new position in shares of Upstart in the 4th quarter valued at $32,000. Farther Finance Advisors LLC grew its position in shares of Upstart by 24.2% in the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company's stock valued at $54,000 after buying an additional 172 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Upstart in the 4th quarter valued at $62,000. Finally, GAMMA Investing LLC grew its position in shares of Upstart by 23.3% in the 1st quarter. GAMMA Investing LLC now owns 1,662 shares of the company's stock valued at $77,000 after buying an additional 314 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Upstart Price Performance

Shares of UPST stock traded down $0.28 during mid-day trading on Tuesday, hitting $76.07. The stock had a trading volume of 7,338,343 shares, compared to its average volume of 6,930,308. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43. The firm has a market cap of $7.24 billion, a PE ratio of -101.43 and a beta of 2.37. The company's 50-day simple moving average is $54.89 and its 200-day simple moving average is $56.74.

Upstart (NASDAQ:UPST - Get Free Report) last released 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 net margin of 9.20% and a negative return on equity of 15.27%. The company had revenue of $213.37 million during the quarter, compared to analysts' expectations of $201.08 million. During the same quarter last year, the business earned ($0.31) EPS. The business's revenue was up 67.0% on a year-over-year basis. On average, analysts expect that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Insider Activity at Upstart

In related news, CEO Dave Girouard sold 41,667 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $60.05, for a total value of $2,502,103.35. Following the completion of the sale, the chief executive officer owned 52,614 shares in the company, valued at $3,159,470.70. This trade represents a 44.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Natalia Mirgorodskaya sold 6,533 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $70.06, for a total transaction of $457,701.98. Following the transaction, the insider owned 24,623 shares of the company's stock, valued at $1,725,087.38. This trade represents a 20.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 105,983 shares of company stock worth $6,217,619 over the last 90 days. Company insiders own 16.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on UPST shares. Barclays increased their target price on shares of Upstart from $42.00 to $47.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Stephens began coverage on shares of Upstart in a research report on Thursday, June 12th. They issued an "equal weight" rating and a $55.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and set a $70.00 price objective on shares of Upstart in a research report on Monday, May 19th. Morgan Stanley lowered their price objective on shares of Upstart from $70.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Finally, Piper Sandler raised shares of Upstart to an "overweight" rating and set a $75.00 price objective on the stock in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $67.42.

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.