SVB Wealth LLC Boosts Stock Position in Upstart Holdings, Inc. (NASDAQ:UPST)

SVB Wealth LLC raised its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 98.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,569 shares of the company’s stock after acquiring an additional 26,133 shares during the quarter. SVB Wealth LLC owned approximately 0.06% of Upstart worth $2,148,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in UPST. Bank of New York Mellon Corp lifted its position in shares of Upstart by 19.8% during the 1st quarter. Bank of New York Mellon Corp now owns 172,118 shares of the company’s stock worth $18,777,000 after buying an additional 28,494 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Upstart by 66.9% during the first quarter. American Century Companies Inc. now owns 13,549 shares of the company’s stock worth $1,478,000 after purchasing an additional 5,429 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Upstart by 32.0% during the first quarter. HighTower Advisors LLC now owns 6,991 shares of the company’s stock worth $765,000 after purchasing an additional 1,694 shares in the last quarter. Cetera Advisor Networks LLC lifted its holdings in shares of Upstart by 15.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 3,705 shares of the company’s stock valued at $404,000 after purchasing an additional 488 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in Upstart by 73.0% during the first quarter. Private Advisor Group LLC now owns 6,185 shares of the company’s stock worth $675,000 after buying an additional 2,610 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Upstart Trading Down 0.4 %

Shares of NASDAQ:UPST opened at $22.44 on Thursday. Upstart Holdings, Inc. has a one year low of $11.93 and a one year high of $72.58. The business’s fifty day moving average price is $26.10 and its two-hundred day moving average price is $29.62.

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

Insider Activity

In other Upstart news, insider Scott Darling sold 1,298 shares of Upstart stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $35.38, for a total value of $45,923.24. Following the completion of the sale, the insider now owns 169,527 shares in the company, valued at approximately $5,997,865.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Upstart news, insider Scott Darling sold 1,298 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $35.38, for a total transaction of $45,923.24. Following the completion of the sale, the insider now owns 169,527 shares of the company’s stock, valued at $5,997,865.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Paul Gu sold 60,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $26.31, for a total value of $1,578,600.00. Following the sale, the chief technology officer now owns 893,596 shares of the company’s stock, valued at $23,510,510.76. The disclosure for this sale can be found here. Insiders sold a total of 69,777 shares of company stock valued at $1,864,629 over the last 90 days. Insiders own 18.06% of the company’s stock.

Analyst Upgrades and Downgrades

UPST has been the topic of a number of research reports. Mizuho raised 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. JMP Securities restated a “market perform” rating on shares of Upstart in a research note on Wednesday. Piper Sandler reissued a “neutral” rating and set a $28.00 price target on shares of Upstart in a report on Tuesday, March 19th. JPMorgan Chase & Co. reduced their price objective on Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Wednesday, February 14th. Finally, Bank of America began coverage on Upstart in a research note on Thursday, April 4th. They issued an “underperform” rating and a $22.00 target price on the stock. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.00.

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.