Wealth Enhancement Advisory Services LLC Invests $284,000 in Upstart Holdings, Inc. (NASDAQ:UPST)

Wealth Enhancement Advisory Services LLC acquired a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 4,614 shares of the company’s stock, valued at approximately $284,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UPST. Rakuten Securities Inc. acquired a new stake in Upstart in the fourth quarter valued at $31,000. Virtus Fund Advisers LLC purchased a new stake in Upstart in the fourth quarter valued at approximately $32,000. Farther Finance Advisors LLC grew its stake in Upstart by 24.2% during the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock worth $54,000 after buying an additional 172 shares during the period. Mackenzie Financial Corp purchased a new stake in Upstart during the fourth quarter worth approximately $62,000. Finally, Blue Trust Inc. grew its stake in Upstart by 49.1% during the fourth quarter. Blue Trust Inc. now owns 1,475 shares of the company’s stock worth $91,000 after buying an additional 486 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Upstart Stock Performance

NASDAQ UPST opened at $52.02 on Monday. The stock has a market capitalization of $4.95 billion, a P/E ratio of -35.63 and a beta of 2.29. Upstart Holdings, Inc. has a 1 year low of $20.60 and a 1 year high of $96.43. The business’s fifty day moving average is $47.21 and its two-hundred day moving average is $57.89.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.11. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. The company had revenue of $213.37 million for the quarter, compared to the consensus estimate of $201.08 million. During the same period in the previous year, the business earned ($0.31) EPS. The company’s revenue was up 67.0% on a year-over-year basis. On average, research analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Insider Transactions at Upstart

In other news, CEO Dave Girouard sold 41,667 shares of the company’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $60.11, for a total value of $2,504,603.37. Following the transaction, the chief executive officer now directly owns 52,614 shares of the company’s stock, valued at approximately $3,162,627.54. This represents a 44.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sanjay Datta sold 13,512 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $46.97, for a total transaction of $634,658.64. Following the completion of the sale, the chief financial officer now owns 311,356 shares of the company’s stock, valued at $14,624,391.32. This represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,783 shares of company stock valued at $3,257,814. 16.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on UPST. Bank of America raised shares of Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a research report on Tuesday, April 29th. Barclays increased their target price on shares of Upstart from $42.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Stephens started coverage on shares of Upstart in a report on Thursday. They set an “equal weight” rating and a $55.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of Upstart from $15.00 to $16.50 and gave the stock a “sell” rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of Upstart in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $66.96.

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.