Stratos Wealth Partners LTD. Sells 2,700 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Stratos Wealth Partners LTD. lessened its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 32.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,663 shares of the company’s stock after selling 2,700 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Upstart were worth $349,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Upstart by 1.6% in the 3rd 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 last quarter. Fred Alger Management LLC lifted its holdings in shares of 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 acquiring an additional 754,416 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Upstart by 63.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after acquiring an additional 282,481 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Upstart by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 642,876 shares of the company’s stock worth $25,721,000 after acquiring an additional 32,052 shares during the last quarter. Finally, Two Sigma Advisers LP lifted 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. Institutional investors own 63.01% of the company’s stock.

Upstart Stock Up 31.8 %

Shares of Upstart stock opened at $88.77 on Thursday. The firm’s 50 day moving average price is $67.78 and its 200-day moving average price is $54.62. Upstart Holdings, Inc. has a 52-week low of $20.60 and a 52-week high of $90.44. The company has a market cap of $8.10 billion, a P/E ratio of -45.99 and a beta of 2.25.

Upstart (NASDAQ:UPST) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative net margin of 30.15% and a negative return on equity of 32.57%. As a group, equities research analysts forecast that Upstart Holdings, Inc. will post -2.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Upstart news, insider Natalia Mirgorodskaya sold 1,411 shares of Upstart stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $77.36, for a total transaction of $109,154.96. Following the completion of the sale, the insider now directly owns 18,596 shares in the company, valued at approximately $1,438,586.56. The trade was a 7.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the sale, the chief executive officer now owns 57,138 shares of the company’s stock, valued at approximately $3,576,838.80. The trade was a 42.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 347,868 shares of company stock worth $24,056,862 in the last three months. Corporate insiders own 18.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on UPST shares. B. Riley upgraded shares of Upstart from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $105.00 in a report on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $105.00 price objective (up previously from $85.00) on shares of Upstart in a report on Wednesday. JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $57.00 to $79.00 in a report on Wednesday. The Goldman Sachs Group lifted their price objective on shares of Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a report on Wednesday. Finally, Needham & Company LLC lifted their price objective on shares of Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $67.08.

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.