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

Commonwealth Equity Services LLC lifted its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 7.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 43,579 shares of the company’s stock after acquiring an additional 3,093 shares during the period. Commonwealth Equity Services LLC’s holdings in Upstart were worth $2,683,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UPST. Rakuten Securities Inc. purchased a new stake in Upstart during the fourth quarter valued at about $31,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Upstart during the 3rd quarter valued at about $35,000. BNP Paribas purchased a new stake in Upstart in the third quarter worth approximately $37,000. Farther Finance Advisors LLC grew its position in Upstart by 24.2% during the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock valued at $54,000 after acquiring an additional 172 shares during the last quarter. Finally, Quest Partners LLC raised its stake in shares of Upstart by 1,424.8% during the third quarter. Quest Partners LLC now owns 1,723 shares of the company’s stock worth $69,000 after acquiring an additional 1,610 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Natalia Mirgorodskaya sold 794 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $62,741.88. Following the sale, the insider now directly owns 21,985 shares of the company’s stock, valued at approximately $1,737,254.70. This represents a 3.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sanjay Datta sold 16,070 shares of Upstart stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the completion of the transaction, the chief financial officer now directly owns 295,537 shares of the company’s stock, valued at $23,353,333.74. This trade represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,062 shares of company stock worth $5,247,182 in the last 90 days. Insiders own 18.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays upped their price objective on shares of Upstart from $80.00 to $93.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 18th. Piper Sandler reaffirmed an “overweight” rating and set a $105.00 price objective (up from $85.00) on shares of Upstart in a research note on Wednesday, February 12th. Bank of America boosted their target price on Upstart from $33.00 to $39.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th. Wedbush raised their price target on Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Finally, JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $57.00 to $79.00 in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Upstart has a consensus rating of “Hold” and a consensus price target of $73.38.

Upstart Stock Down 3.9 %

NASDAQ UPST opened at $52.87 on Thursday. The firm has a market capitalization of $4.95 billion, a PE ratio of -36.21 and a beta of 2.25. The stock’s 50 day moving average is $63.81 and its 200 day moving average is $60.12. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43.

Upstart (NASDAQ:UPST) last released its earnings results 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%. On average, research analysts anticipate 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.