Upstart Holdings, Inc. (NASDAQ:UPST) Shares Acquired by Wealth Enhancement Advisory Services LLC

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

A number of other hedge funds and other institutional investors have also modified their holdings of UPST. Vanguard Group Inc. raised its stake in Upstart by 5.0% during the 4th 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 in the last quarter. Two Sigma Investments LP increased its stake in shares of Upstart by 20.1% during the fourth quarter. Two Sigma Investments LP now owns 1,922,770 shares of the company's stock worth $118,385,000 after acquiring an additional 321,366 shares during the period. Fred Alger Management LLC increased its stake in shares of Upstart by 53.6% during the fourth quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company's stock worth $117,914,000 after acquiring an additional 668,282 shares during the period. Geode Capital Management LLC boosted its holdings in Upstart by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,846,438 shares of the company's stock worth $113,711,000 after buying an additional 29,664 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in Upstart by 190.2% during the fourth 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 in the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on UPST shares. Stephens assumed coverage on shares of Upstart in a report on Thursday, June 12th. They issued an "equal weight" rating and a $55.00 price target on the stock. Barclays increased their price objective on shares of Upstart from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Bank of America upgraded shares of Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 target price for the company in a research note on Tuesday, April 29th. Piper Sandler upgraded shares of Upstart to an "overweight" rating and set a $75.00 target price for the company in a research note on Tuesday, June 24th. Finally, Morgan Stanley reduced 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 note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $67.42.

Upstart Stock Up 0.2%

UPST stock opened at $73.57 on Friday. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43. The firm's 50-day simple moving average is $53.79 and its 200 day simple moving average is $56.74. The stock has a market cap of $7.00 billion, a PE ratio of -98.09 and a beta of 2.37.

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

Insider Transactions at Upstart

In other news, insider Natalia Mirgorodskaya sold 1,340 shares of Upstart stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $44.19, for a total value of $59,214.60. Following the transaction, the insider owned 24,623 shares of the company's stock, valued at $1,088,090.37. The trade was a 5.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Sanjay Datta sold 13,512 shares of Upstart stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $46.97, for a total transaction of $634,658.64. Following the completion of the transaction, the chief financial officer directly owned 311,356 shares in the company, valued at $14,624,391.32. This represents a 4.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,450 shares of company stock valued at $5,759,917 in the last quarter. Insiders own 16.67% of the company's stock.

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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