J.W. Cole Advisors Inc. Invests $467,000 in Upstart Holdings, Inc. (NASDAQ:UPST)

J.W. Cole Advisors Inc. acquired a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,425 shares of the company’s stock, valued at approximately $467,000.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Upstart by 1.3% during the third quarter. Vanguard Group Inc. now owns 6,856,199 shares of the company’s stock worth $195,676,000 after acquiring an additional 87,832 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Upstart by 0.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,018,354 shares of the company’s stock worth $41,610,000 after acquiring an additional 5,875 shares during the period. Northern Trust Corp boosted its holdings in shares of Upstart by 1.1% during the third quarter. Northern Trust Corp now owns 718,745 shares of the company’s stock worth $20,513,000 after acquiring an additional 8,091 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Upstart by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 555,713 shares of the company’s stock worth $15,860,000 after acquiring an additional 21,344 shares during the period. Finally, Fred Alger Management LLC boosted its holdings in shares of Upstart by 121.9% during the third quarter. Fred Alger Management LLC now owns 508,050 shares of the company’s stock worth $14,500,000 after acquiring an additional 279,110 shares during the period. Institutional investors own 63.01% of the company’s stock.

Upstart Trading Up 3.9 %

Shares of NASDAQ:UPST opened at $22.94 on Wednesday. The company has a fifty day moving average of $25.16 and a 200-day moving average of $29.50. Upstart Holdings, Inc. has a 52-week low of $11.93 and a 52-week high of $72.58.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on UPST shares. JPMorgan Chase & Co. dropped their price target on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. JMP Securities restated a “market perform” rating on shares of Upstart in a research report on Wednesday, April 17th. Bank of America began coverage on shares of Upstart in a research report on Thursday, April 4th. They set an “underperform” rating and a $22.00 price objective for the company. Piper Sandler restated a “neutral” rating and set a $28.00 price objective on shares of Upstart in a research report on Tuesday, March 19th. Finally, Mizuho boosted their price objective on shares of Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a research report on Thursday, January 18th. Five 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.00.

Insider Buying and Selling

In related news, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $32.62, for a total value of $32,620.00. Following the sale, the chief financial officer now owns 356,090 shares of the company’s stock, valued at $11,615,655.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Scott Darling sold 1,298 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $35.38, for a total value of $45,923.24. Following the sale, the insider now owns 169,527 shares of the company’s stock, valued at $5,997,865.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Sanjay Datta sold 1,000 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $32.62, for a total transaction of $32,620.00. Following the sale, the chief financial officer now directly owns 356,090 shares in the company, valued at approximately $11,615,655.80. The disclosure for this sale can be found here. Insiders have sold a total of 68,777 shares of company stock valued at $1,830,919 over the last 90 days. 18.06% of the stock is owned by insiders.

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.