SVB Wealth LLC Has $2.15 Million Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

SVB Wealth LLC boosted its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 98.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 52,569 shares of the company’s stock after purchasing an additional 26,133 shares during the quarter. SVB Wealth LLC’s holdings in Upstart were worth $2,148,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UPST. Vanguard Group Inc. increased its position in shares of Upstart by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,856,199 shares of the company’s stock worth $195,676,000 after purchasing an additional 87,832 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Upstart by 37.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,250 shares of the company’s stock worth $2,262,000 after acquiring an additional 21,668 shares in the last quarter. Northern Trust Corp grew its position in Upstart by 1.1% during the 3rd quarter. Northern Trust Corp now owns 718,745 shares of the company’s stock worth $20,513,000 after acquiring an additional 8,091 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in Upstart by 5.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 11,805 shares of the company’s stock valued at $482,000 after purchasing an additional 619 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in Upstart in the third quarter worth $1,529,000. 63.01% of the stock is owned by institutional investors.

Upstart Stock Performance

UPST stock opened at $22.44 on Thursday. Upstart Holdings, Inc. has a twelve month low of $11.93 and a twelve month high of $72.58. The business has a 50 day moving average price of $26.10 and a two-hundred day moving average price of $29.62.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.05. Upstart had a negative net margin of 46.76% and a negative return on equity of 35.47%. The firm had revenue of $140.31 million during the quarter, compared to analysts’ expectations of $135.28 million. Equities research analysts forecast that Upstart Holdings, Inc. will post -2.19 EPS for the current fiscal year.

Insider Buying and Selling at Upstart

In other Upstart news, insider Natalia Mirgorodskaya sold 1,919 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $24.30, for a total value of $46,631.70. Following the transaction, the insider now directly owns 28,246 shares in the company, valued at $686,377.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Natalia Mirgorodskaya sold 1,919 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $24.30, for a total value of $46,631.70. Following the transaction, the insider now directly owns 28,246 shares in the company, valued at $686,377.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $33.71, for a total transaction of $33,710.00. Following the completion of the sale, the chief financial officer now directly owns 357,090 shares of the company’s stock, valued at approximately $12,037,503.90. The disclosure for this sale can be found here. Insiders sold 69,777 shares of company stock valued at $1,864,629 in the last quarter. 18.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Bank of America assumed coverage on Upstart in a research report on Thursday, April 4th. They set an “underperform” rating and a $22.00 target price for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $28.00 target price on shares of Upstart in a research note on Tuesday, March 19th. JPMorgan Chase & Co. dropped their price target on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Wednesday, February 14th. Mizuho raised their price objective on shares of Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a research note on Thursday, January 18th. Finally, JMP Securities reiterated a “market perform” rating on shares of Upstart in a research report on Wednesday. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.00.

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.