Wealth Enhancement Advisory Services LLC Invests $313,000 in Upstart Holdings, Inc. (NASDAQ:UPST)

Wealth Enhancement Advisory Services LLC acquired a new position in Upstart Holdings, Inc. (NASDAQ:UPST) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,079 shares of the company’s stock, valued at approximately $313,000.

Other hedge funds also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Upstart during the 3rd quarter valued at about $35,000. BNP Paribas purchased a new position in shares of Upstart in the third quarter worth approximately $37,000. Blue Trust Inc. grew its position in Upstart by 125.3% during the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after buying an additional 550 shares during the period. Hollencrest Capital Management purchased a new stake in Upstart during the third quarter valued at approximately $40,000. Finally, Indiana Trust & Investment Management Co bought a new position in Upstart in the third quarter worth approximately $43,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on UPST. Mizuho boosted their price objective on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Needham & Company LLC raised Upstart from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Friday, December 13th. JPMorgan Chase & Co. downgraded Upstart from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $45.00 to $57.00 in a research note on Monday, December 2nd. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $56.00 to $87.00 in a research note on Friday, November 8th. Finally, BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $61.80.

Insider Transactions at Upstart

In related news, CEO Dave Girouard sold 41,667 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $65.15, for a total value of $2,714,605.05. Following the completion of the transaction, the chief executive officer now owns 61,512 shares of the company’s stock, valued at approximately $4,007,506.80. This trade represents a 40.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sanjay Datta sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $79.54, for a total value of $119,310.00. Following the transaction, the chief financial officer now directly owns 331,093 shares in the company, valued at approximately $26,335,137.22. This represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 394,035 shares of company stock valued at $27,049,042. 18.06% of the stock is currently owned by corporate insiders.

Upstart Price Performance

UPST stock opened at $62.96 on Friday. Upstart Holdings, Inc. has a 1-year low of $20.60 and a 1-year high of $88.95. The business has a 50 day simple moving average of $70.20 and a two-hundred day simple moving average of $49.02. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of -32.62 and a beta of 2.26.

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.