Independent Advisor Alliance Sells 214 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Independent Advisor Alliance lowered its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,942 shares of the company’s stock after selling 214 shares during the quarter. Independent Advisor Alliance’s holdings in Upstart were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. State of New Jersey Common Pension Fund D purchased a new stake in Upstart during the third quarter valued at approximately $1,839,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Upstart in the 3rd quarter worth $826,000. Natixis Advisors LLC bought a new position in Upstart in the 3rd quarter worth $654,000. Swiss National Bank lifted its position in Upstart by 1.0% during the third quarter. Swiss National Bank now owns 145,900 shares of the company’s stock valued at $5,837,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in Upstart by 1,424.8% during the third quarter. Quest Partners LLC now owns 1,723 shares of the company’s stock valued at $69,000 after purchasing an additional 1,610 shares during the period. Institutional investors own 63.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wedbush lifted their price objective on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Needham & Company LLC upped their price target on shares of Upstart from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Redburn Atlantic upgraded shares of Upstart from a “neutral” rating to a “buy” rating and lifted their target price for the company from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Morgan Stanley raised shares of Upstart from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $12.00 to $70.00 in a report on Friday, February 14th. Finally, Piper Sandler restated an “overweight” rating and issued a $105.00 price objective (up from $85.00) on shares of Upstart in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Upstart has an average rating of “Hold” and an average price target of $73.38.

Insider Activity

In other news, insider Natalia Mirgorodskaya sold 794 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 value of $62,741.88. Following the completion of the sale, the insider now owns 21,985 shares in the company, valued at approximately $1,737,254.70. This trade represents a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dave Girouard sold 41,667 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the completion of the sale, the chief executive officer now directly owns 57,138 shares in the company, valued at $3,576,838.80. This trade represents a 42.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,062 shares of company stock valued at $5,247,182 in the last ninety days. Insiders own 18.06% of the company’s stock.

Upstart Stock Performance

Shares of UPST opened at $47.79 on Wednesday. The stock has a market capitalization of $4.48 billion, a PE ratio of -32.73 and a beta of 2.25. The company’s fifty day moving average is $64.56 and its 200 day moving average is $59.64. 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 earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating 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, research analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current 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.