Prakash Investment Advisors LLC Invests $707,000 in Upstart Holdings, Inc. (NASDAQ:UPST)

Prakash Investment Advisors LLC bought a new position in Upstart Holdings, Inc. (NASDAQ:UPST) during the fourth quarter, HoldingsChannel.com reports. The fund bought 11,475 shares of the company’s stock, valued at approximately $707,000. Upstart makes up about 0.7% of Prakash Investment Advisors LLC’s holdings, making the stock its 24th largest holding.

A number of other large investors have also recently made changes to their positions in UPST. Blue Trust Inc. increased its holdings in shares of Upstart by 125.3% in the 3rd quarter. Blue Trust Inc. now owns 989 shares of the company’s stock worth $40,000 after buying an additional 550 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Upstart during the 3rd quarter valued at about $235,000. International Assets Investment Management LLC grew its holdings in Upstart by 4,087.8% during the 3rd quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock valued at $9,333,000 after purchasing an additional 227,688 shares during the last quarter. Bristlecone Advisors LLC bought a new position in Upstart during the 3rd quarter valued at about $258,000. Finally, TCI Wealth Advisors Inc. grew its holdings in Upstart by 6.5% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 44,756 shares of the company’s stock valued at $1,791,000 after purchasing an additional 2,732 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

Upstart Stock Down 4.7 %

Shares of UPST opened at $79.21 on Friday. The company has a 50 day moving average price of $68.61 and a 200-day moving average price of $56.80. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43.

Upstart (NASDAQ:UPST) last announced its quarterly 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 net margin of 20.20% and a negative return on equity of 25.87%. As a group, sell-side analysts anticipate that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

UPST has been the topic of several analyst reports. Morgan Stanley upgraded shares of Upstart from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $12.00 to $70.00 in a report on Friday, February 14th. B. Riley upgraded shares of Upstart from a “neutral” rating to a “buy” rating and upped their price target for the company from $49.00 to $105.00 in a report on Wednesday, February 12th. Needham & Company LLC upped their price target on shares of Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $57.00 to $79.00 in a research report on Wednesday, February 12th. Finally, Citigroup boosted their price objective on shares of Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $73.38.

Insider Transactions at Upstart

In related news, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the completion of the transaction, the chief executive officer now owns 57,138 shares in the company, valued at $3,576,838.80. The trade was a 42.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kerry Whorton Cooper sold 500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $74.59, for a total transaction of $37,295.00. Following the transaction, the director now owns 17,961 shares of the company’s stock, valued at approximately $1,339,710.99. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 193,983 shares of company stock valued at $13,598,414. Company insiders own 18.06% of the company’s stock.

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.