32,263 Shares in Upstart Holdings, Inc. (NASDAQ:UPST) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 32,263 shares of the company’s stock, valued at approximately $1,986,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Natixis Advisors LLC purchased a new position in shares of Upstart during the third quarter valued at approximately $654,000. Swiss National Bank boosted its holdings in Upstart by 1.0% in the third quarter. Swiss National Bank now owns 145,900 shares of the company’s stock valued at $5,837,000 after acquiring an additional 1,400 shares in the last quarter. Quest Partners LLC increased its position in Upstart by 1,424.8% during the 3rd quarter. Quest Partners LLC now owns 1,723 shares of the company’s stock valued at $69,000 after purchasing an additional 1,610 shares during the period. Pathstone Holdings LLC raised its holdings in Upstart by 0.3% in the 3rd quarter. Pathstone Holdings LLC now owns 396,408 shares of the company’s stock worth $15,860,000 after purchasing an additional 1,119 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Upstart in the 3rd quarter worth about $47,000. Institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on UPST. B. Riley raised shares of Upstart from a “neutral” rating to a “buy” rating and increased their price target for the stock from $49.00 to $105.00 in a research note on Wednesday, February 12th. Needham & Company LLC increased their target price on Upstart from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler restated an “overweight” rating and set a $105.00 price target (up from $85.00) on shares of Upstart in a research report on Wednesday, February 12th. Morgan Stanley upgraded Upstart from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $12.00 to $70.00 in a report on Friday, February 14th. Finally, The Goldman Sachs Group boosted their target price on shares of Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.38.

Upstart Stock Performance

Shares of Upstart stock opened at $51.00 on Thursday. The company has a 50-day simple moving average of $64.39 and a two-hundred day simple moving average of $59.58. The stock has a market capitalization of $4.78 billion, a PE ratio of -34.93 and a beta of 2.25. Upstart Holdings, Inc. has a 52-week low of $20.60 and a 52-week high of $96.43.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. As a group, equities research analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Insider Activity

In related news, CFO Sanjay Datta sold 16,070 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the transaction, the chief financial officer now owns 295,537 shares in the company, valued at $23,353,333.74. This represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the completion of the sale, the chief executive officer now owns 57,138 shares in the company, valued at $3,576,838.80. This represents a 42.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,062 shares of company stock valued at $5,247,182 over the last ninety days. 18.06% of the stock is currently owned by corporate insiders.

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.