Legacy Capital Group California Inc. Sells 476 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Legacy Capital Group California Inc. decreased its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,704 shares of the company’s stock after selling 476 shares during the period. Upstart accounts for about 0.6% of Legacy Capital Group California Inc.’s holdings, making the stock its 22nd largest holding. Legacy Capital Group California Inc.’s holdings in Upstart were worth $2,075,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Upstart during the third quarter valued at approximately $35,000. BNP Paribas bought a new stake in Upstart in the third quarter valued at $37,000. Hollencrest Capital Management purchased a new position in Upstart during the 3rd quarter valued at $40,000. Blue Trust Inc. raised its holdings in Upstart by 125.3% in the 3rd quarter. Blue Trust Inc. now owns 989 shares of the company’s stock worth $40,000 after purchasing an additional 550 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. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insider Transactions at Upstart

In other news, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 57,138 shares in the company, valued at $3,576,838.80. The trade was a 42.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kerry Whorton Cooper sold 500 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $74.59, for a total value of $37,295.00. Following the transaction, the director now directly owns 17,961 shares in the company, valued at approximately $1,339,710.99. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,983 shares of company stock worth $13,598,414. Corporate insiders own 18.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Barclays boosted their price target on shares of Upstart from $80.00 to $93.00 and gave the company an “equal weight” rating in a research report on Tuesday. Redburn Atlantic upgraded Upstart from a “neutral” rating to a “buy” rating and upped their target price for the stock from $37.00 to $95.00 in a report on Tuesday, December 3rd. Piper Sandler reissued an “overweight” rating and issued a $105.00 target price (up previously from $85.00) on shares of Upstart in a research report on Wednesday, February 12th. The Goldman Sachs Group lifted their price target on Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a research report on Wednesday, February 12th. Finally, BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. 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 company currently has a consensus rating of “Hold” and an average price target of $73.38.

Upstart Price Performance

Upstart stock opened at $79.21 on Friday. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $96.43. The business’s fifty day simple moving average is $68.61 and its two-hundred day simple moving average is $56.80.

Upstart (NASDAQ:UPST) last posted its quarterly 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%. Sell-side analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

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.