Upstart Holdings, Inc. (NASDAQ:UPST) Holdings Cut by Prospera Financial Services Inc

Prospera Financial Services Inc reduced its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 16.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,213 shares of the company’s stock after selling 2,934 shares during the period. Prospera Financial Services Inc’s holdings in Upstart were worth $609,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Atomi Financial Group Inc. grew its stake in Upstart by 0.7% during the 2nd quarter. Atomi Financial Group Inc. now owns 59,009 shares of the company’s stock worth $1,392,000 after buying an additional 406 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Upstart by 18.2% during the second quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock valued at $63,000 after acquiring an additional 409 shares during the period. Principal Financial Group Inc. grew its position in shares of Upstart by 4.2% during the second quarter. Principal Financial Group Inc. now owns 10,405 shares of the company’s stock worth $245,000 after acquiring an additional 422 shares during the last quarter. Inspire Advisors LLC increased its holdings in shares of Upstart by 3.0% in the 2nd quarter. Inspire Advisors LLC now owns 16,623 shares of the company’s stock worth $392,000 after acquiring an additional 480 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Upstart by 125.3% in the 3rd quarter. Blue Trust Inc. now owns 989 shares of the company’s stock worth $40,000 after acquiring an additional 550 shares during the period. 63.01% of the stock is owned by institutional investors.

Upstart Stock Up 3.7 %

NASDAQ:UPST opened at $74.06 on Friday. The business’s 50-day moving average price is $51.40 and its 200 day moving average price is $36.77. Upstart Holdings, Inc. has a 52-week low of $20.60 and a 52-week high of $86.07. The firm has a market cap of $6.76 billion, a P/E ratio of -38.37 and a beta of 1.97.

Insider Activity

In other news, insider Scott Darling sold 1,300 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $40.01, for a total transaction of $52,013.00. Following the sale, the insider now owns 161,043 shares in the company, valued at $6,443,330.43. The trade was a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Natalia Mirgorodskaya sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $41.03, for a total value of $205,150.00. Following the completion of the sale, the insider now directly owns 22,477 shares of the company’s stock, valued at approximately $922,231.31. This trade represents a 18.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 451,742 shares of company stock worth $24,719,949. Corporate insiders own 18.06% of the company’s stock.

Wall Street Analyst Weigh In

UPST has been the subject of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and raised their target price for the company from $31.00 to $85.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $30.00 to $45.00 in a research note on Friday, November 8th. Mizuho increased their price target on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, Barclays lifted their price objective on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Upstart currently has an average rating of “Hold” and an average target price of $46.83.

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.