Atria Wealth Solutions Inc. Buys New Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Atria Wealth Solutions Inc. purchased a new position in Upstart Holdings, Inc. (NASDAQ:UPST) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,327 shares of the company’s stock, valued at approximately $299,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of Upstart by 7.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 26,074 shares of the company’s stock valued at $744,000 after buying an additional 1,730 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Upstart by 62.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 79,935 shares of the company’s stock valued at $2,281,000 after buying an additional 30,708 shares during the period. Stratos Wealth Partners LTD. raised its stake in Upstart by 26.4% in the third quarter. Stratos Wealth Partners LTD. now owns 11,186 shares of the company’s stock worth $319,000 after buying an additional 2,337 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Upstart by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 248,090 shares of the company’s stock worth $7,080,000 after buying an additional 763 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Upstart by 14.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,356 shares of the company’s stock worth $381,000 after acquiring an additional 1,668 shares during the period. Institutional investors own 63.01% of the company’s stock.

Insider Buying and Selling at Upstart

In other news, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $33.84, for a total transaction of $33,840.00. Following the completion of the sale, the chief financial officer now owns 354,090 shares of the company’s stock, valued at approximately $11,982,405.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $33.84, for a total value of $33,840.00. Following the transaction, the chief financial officer now owns 354,090 shares of the company’s stock, valued at $11,982,405.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Paul Gu sold 60,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $26.31, for a total transaction of $1,578,600.00. Following the completion of the sale, the chief technology officer now directly owns 893,596 shares of the company’s stock, valued at $23,510,510.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,419 shares of company stock valued at $1,750,272. Insiders own 18.06% of the company’s stock.

Upstart Stock Down 5.6 %

Shares of Upstart stock opened at $23.11 on Thursday. Upstart Holdings, Inc. has a twelve month low of $13.00 and a twelve month high of $72.58. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -7.97 and a beta of 2.01. The company’s 50 day moving average is $24.74 and its 200 day moving average is $29.20.

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

Wall Street Analysts Forecast Growth

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