Wealthfront Advisers LLC Takes Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Wealthfront Advisers LLC acquired a new stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 231,900 shares of the company’s stock, valued at approximately $14,278,000. Wealthfront Advisers LLC owned approximately 0.25% of Upstart as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Fred Alger Management LLC boosted its position in Upstart by 153.2% during the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock valued at $49,886,000 after purchasing an additional 754,416 shares during the period. Two Sigma Advisers LP grew its holdings in shares of Upstart by 689.5% in the 3rd quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock worth $23,566,000 after acquiring an additional 514,400 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Upstart by 1,413.7% during the third quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock valued at $13,342,000 after buying an additional 311,434 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Upstart by 63.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock valued at $29,031,000 after buying an additional 282,481 shares in the last quarter. Finally, Quantbot Technologies LP grew its holdings in shares of Upstart by 416.3% during the third quarter. Quantbot Technologies LP now owns 98,158 shares of the company’s stock valued at $3,927,000 after buying an additional 79,146 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on UPST. Morgan Stanley raised Upstart from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $12.00 to $70.00 in a research report on Friday, February 14th. The Goldman Sachs Group upped their price target on Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. Bank of America upped their price objective on Upstart from $33.00 to $39.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $57.00 to $79.00 in a research report on Wednesday, February 12th. Finally, Barclays upped their price objective on Upstart from $80.00 to $93.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.38.

Upstart Stock Down 1.6 %

Upstart stock opened at $46.65 on Wednesday. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43. The firm has a 50 day moving average price of $65.91 and a 200-day moving average price of $59.44. The company has a market capitalization of $4.37 billion, a P/E ratio of -31.95 and a beta of 2.25.

Upstart (NASDAQ:UPST) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. Equities analysts expect 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 794 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $62,741.88. Following the completion of the sale, the insider now owns 21,985 shares in the company, valued at approximately $1,737,254.70. This trade represents a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly 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. Over the last 90 days, insiders have sold 75,062 shares of company stock worth $5,247,182. Corporate insiders own 18.06% of the company’s stock.

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.