Keudell Morrison Wealth Management Makes New Investment in Upstart Holdings, Inc. (NASDAQ:UPST)

Keudell Morrison Wealth Management purchased a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,450 shares of the company’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of UPST. Fred Alger Management LLC boosted its holdings in shares of Upstart by 153.2% during the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock worth $49,886,000 after buying an additional 754,416 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Upstart by 689.5% in the 3rd quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock worth $23,566,000 after purchasing an additional 514,400 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Upstart by 1,413.7% in the 3rd quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock worth $13,342,000 after purchasing an additional 311,434 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Upstart by 63.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after purchasing an additional 282,481 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Upstart by 1,792.9% in the 2nd quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock worth $6,190,000 after purchasing an additional 277,896 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

Upstart Stock Down 3.8 %

Shares of Upstart stock opened at $64.75 on Friday. Upstart Holdings, Inc. has a 1 year low of $20.60 and a 1 year high of $88.95. The stock has a fifty day moving average price of $68.89 and a 200-day moving average price of $52.15.

Upstart (NASDAQ:UPST) last announced its earnings results on Thursday, November 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.31). Upstart had a negative net margin of 30.15% and a negative return on equity of 32.57%. The business had revenue of $162.14 million for the quarter, compared to analysts’ expectations of $149.94 million. During the same period in the prior year, the business earned ($0.48) earnings per share. As a group, equities research analysts expect that Upstart Holdings, Inc. will post -2.18 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on UPST. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and increased their target price for the stock from $56.00 to $87.00 in a report on Friday, November 8th. Redburn Atlantic upgraded Upstart from a “neutral” rating to a “buy” rating and increased their target price for the stock from $37.00 to $95.00 in a report on Tuesday, December 3rd. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $31.00 to $85.00 in a research note on Friday, November 8th. Wedbush raised their price objective on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Finally, BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.80.

Insider Activity

In related news, Director Kerry Whorton Cooper sold 500 shares of Upstart stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $74.59, for a total value of $37,295.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $65.15, for a total value of $2,714,605.05. Following the completion of the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 391,035 shares of company stock valued at $26,890,777 in the last ninety days. 18.06% of the stock is currently owned by insiders.

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.