Upstart Holdings, Inc. (NASDAQ:UPST) Holdings Cut by Prospera Financial Services Inc

Prospera Financial Services Inc reduced its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 16.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,213 shares of the company’s stock after selling 2,934 shares during the period. Prospera Financial Services Inc’s holdings in Upstart were worth $609,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Upstart by 1.6% in the first quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock worth $191,698,000 after purchasing an additional 115,057 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Upstart by 7.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 42,350 shares of the company’s stock worth $1,139,000 after purchasing an additional 2,770 shares in the last quarter. Comerica Bank increased its stake in shares of Upstart by 144.0% in the first quarter. Comerica Bank now owns 2,313 shares of the company’s stock valued at $62,000 after buying an additional 1,365 shares in the last quarter. EMC Capital Management lifted its position in Upstart by 16.2% during the 1st quarter. EMC Capital Management now owns 4,300 shares of the company’s stock worth $109,000 after buying an additional 600 shares in the last quarter. Finally, Cetera Advisors LLC increased its position in Upstart by 66.6% in the 1st quarter. Cetera Advisors LLC now owns 17,258 shares of the company’s stock valued at $464,000 after acquiring an additional 6,899 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Upstart Price Performance

UPST stock opened at $74.06 on Friday. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of -38.37 and a beta of 1.97. The company has a fifty day moving average price of $51.40 and a two-hundred day moving average price of $36.77. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $86.07.

Analyst Upgrades and Downgrades

UPST has been the subject of a number of research reports. Citigroup raised shares of Upstart from a “neutral” rating to a “buy” rating and raised their price target for the company from $56.00 to $87.00 in a report on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $30.00 to $45.00 in a research report on Friday, November 8th. Wedbush raised their target price on shares of Upstart from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $31.00 to $85.00 in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $46.83.

Insider Activity at Upstart

In other Upstart news, CTO Paul Gu sold 21,214 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $75.03, for a total transaction of $1,591,686.42. Following the completion of the transaction, the chief technology officer now directly owns 863,065 shares in the company, valued at $64,755,766.95. The trade was a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sanjay Datta sold 1,500 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $79.54, for a total value of $119,310.00. Following the sale, the chief financial officer now owns 331,093 shares of the company’s stock, valued at $26,335,137.22. The trade was a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 451,742 shares of company stock valued at $24,719,949 over the last quarter. 18.06% of the stock is owned by corporate insiders.

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.