Left Brain Wealth Management LLC Acquires New Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Left Brain Wealth Management LLC purchased a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 11,670 shares of the company’s stock, valued at approximately $719,000.

Other large investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in shares of Upstart during the third quarter worth $334,000. Intech Investment Management LLC bought a new stake in shares of Upstart during the third quarter worth $939,000. Quadrature Capital Ltd bought a new stake in shares of Upstart during the third quarter worth $676,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Upstart by 63.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after acquiring an additional 282,481 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Upstart during the fourth quarter worth $2,057,000. Institutional investors own 63.01% of the company’s stock.

Insider Transactions at Upstart

In related news, CFO Sanjay Datta sold 16,070 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the transaction, the chief financial officer now directly owns 295,537 shares of the company’s stock, valued at approximately $23,353,333.74. This trade represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Natalia Mirgorodskaya sold 794 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $62,741.88. Following the transaction, the insider now directly owns 21,985 shares in the company, valued at approximately $1,737,254.70. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,062 shares of company stock worth $5,247,182. 18.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UPST. B. Riley raised shares of Upstart from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $105.00 in a research report on Wednesday, February 12th. Needham & Company LLC raised their target price on shares of Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and raised their target price for the company from $57.00 to $79.00 in a research report on Wednesday, February 12th. Redburn Atlantic raised shares of Upstart from a “neutral” rating to a “buy” rating and raised their target price for the company from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Finally, Bank of America raised their target price on shares of Upstart from $33.00 to $39.00 and gave the company an “underperform” rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Upstart currently has an average rating of “Hold” and a consensus target price of $73.38.

Upstart Price Performance

Shares of UPST stock opened at $46.31 on Friday. The stock has a market cap of $4.34 billion, a P/E ratio of -31.72 and a beta of 2.25. The company has a fifty day moving average price of $65.39 and a two-hundred day moving average price of $59.28. Upstart Holdings, Inc. has a one year low of $20.60 and a one 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 (EPS) for the quarter, topping analysts’ consensus estimates 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, equities research analysts anticipate that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Upstart Company 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.