WMG Financial Advisors LLC Sells 22,895 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

WMG Financial Advisors LLC reduced its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 51.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,212 shares of the company’s stock after selling 22,895 shares during the period. WMG Financial Advisors LLC’s holdings in Upstart were worth $1,306,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Upstart in the third quarter worth about $35,000. BNP Paribas bought a new position in shares of Upstart in the third quarter worth about $37,000. Hollencrest Capital Management bought a new position in shares of Upstart in the third quarter worth about $40,000. Prospera Private Wealth LLC bought a new position in shares of Upstart in the third quarter worth about $47,000. Finally, Quest Partners LLC raised its stake in shares of Upstart by 1,424.8% in 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 during the last quarter. 63.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on UPST shares. Redburn Atlantic raised shares of Upstart from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Barclays raised 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. Morgan Stanley upgraded Upstart from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $12.00 to $70.00 in a research report on Friday, February 14th. 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. Finally, Citigroup lifted their price objective on Upstart from $87.00 to $108.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.38.

Insiders Place Their Bets

In other news, CTO Paul Gu sold 12,007 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value of $948,793.14. Following the sale, the chief technology officer now directly owns 1,006,599 shares in the company, valued at $79,541,452.98. The trade was a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dave Girouard sold 4,524 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.01, for a total value of $357,441.24. Following the completion of the sale, the chief executive officer now owns 52,614 shares in the company, valued at approximately $4,157,032.14. This trade represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,081 shares of company stock worth $5,548,607. Corporate insiders own 18.06% of the company’s stock.

Upstart Trading Down 7.5 %

UPST stock opened at $61.69 on Tuesday. The business’s 50-day moving average price is $67.50 and its two-hundred day moving average price is $58.85. The firm has a market cap of $5.78 billion, a PE ratio of -42.25 and a beta of 2.25. Upstart Holdings, Inc. has a 1-year low of $20.60 and a 1-year high of $96.43.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share 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%. On average, analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

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.