Commonwealth Equity Services LLC Acquires 3,093 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Commonwealth Equity Services LLC increased its holdings in Upstart Holdings, Inc. (NASDAQ:UPST) by 7.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 43,579 shares of the company’s stock after buying an additional 3,093 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Upstart were worth $2,683,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Upstart by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock worth $72,702,000 after acquiring an additional 29,482 shares during the period. Fred Alger Management LLC grew its position in Upstart by 153.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock worth $49,886,000 after purchasing an additional 754,416 shares during the period. Charles Schwab Investment Management Inc. grew its position in Upstart by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 657,118 shares of the company’s stock worth $40,459,000 after purchasing an additional 14,242 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Upstart by 689.5% during the 3rd quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock valued at $23,566,000 after buying an additional 514,400 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of Upstart by 1,413.7% in the 3rd quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock worth $13,342,000 after buying an additional 311,434 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on UPST. B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $105.00 in a research report on Wednesday, February 12th. The Goldman Sachs Group increased their price objective on shares of Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a research note on Wednesday, February 12th. Redburn Atlantic upgraded shares of Upstart from a “neutral” rating to a “buy” rating and boosted their target price for the company from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Barclays increased their price target on shares of Upstart from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 18th. Finally, Piper Sandler reissued an “overweight” rating and set a $105.00 price objective (up previously from $85.00) on shares of Upstart in a research 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 stock. Based on data from MarketBeat.com, Upstart presently has a consensus rating of “Hold” and an average target price of $73.38.

Upstart Stock Performance

Shares of UPST stock opened at $52.87 on Thursday. The stock has a fifty day simple moving average of $63.81 and a two-hundred day simple moving average of $60.12. Upstart Holdings, Inc. has a 52-week low of $20.60 and a 52-week high of $96.43. The firm has a market capitalization of $4.95 billion, a PE ratio of -36.21 and a beta of 2.25.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. On average, sell-side analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Insider Transactions at Upstart

In other Upstart news, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total value of $2,608,354.20. Following the sale, the chief executive officer now owns 57,138 shares of the company’s stock, valued at $3,576,838.80. The trade was a 42.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Paul Gu sold 12,007 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 value of $948,793.14. Following the transaction, the chief technology officer now owns 1,006,599 shares of the company’s stock, valued at $79,541,452.98. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,062 shares of company stock valued at $5,247,182. 18.06% of the stock is currently owned by corporate insiders.

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.