37,197 Shares in Upstart Holdings, Inc. (NASDAQ:UPST) Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC purchased a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 37,197 shares of the company’s stock, valued at approximately $1,712,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of UPST. Apollon Wealth Management LLC grew its holdings in Upstart by 10.0% during the fourth quarter. Apollon Wealth Management LLC now owns 16,978 shares of the company’s stock worth $1,045,000 after purchasing an additional 1,547 shares during the period. Bristlecone Advisors LLC grew its holdings in Upstart by 125.0% during the fourth quarter. Bristlecone Advisors LLC now owns 14,520 shares of the company’s stock worth $894,000 after purchasing an additional 8,066 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Upstart during the fourth quarter worth about $235,000. Vontobel Holding Ltd. bought a new position in Upstart during the fourth quarter worth about $234,000. Finally, Blue Trust Inc. grew its holdings in Upstart by 49.1% during the fourth quarter. Blue Trust Inc. now owns 1,475 shares of the company’s stock worth $91,000 after purchasing an additional 486 shares during the period. Institutional investors own 63.01% of the company’s stock.

Insider Activity

In other Upstart news, insider Natalia Mirgorodskaya sold 1,340 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $44.19, for a total transaction of $59,214.60. Following the completion of the transaction, the insider now directly owns 24,623 shares in the company, valued at $1,088,090.37. The trade was a 5.16% 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 13,512 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $46.97, for a total transaction of $634,658.64. Following the transaction, the chief financial officer now owns 311,356 shares of the company’s stock, valued at approximately $14,624,391.32. This represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,116 shares of company stock worth $753,211. Corporate insiders own 16.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on UPST shares. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price target on shares of Upstart in a report on Monday, May 19th. Morgan Stanley reduced their price target on Upstart from $70.00 to $50.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. The Goldman Sachs Group boosted their price objective on Upstart from $15.00 to $16.50 and gave the stock a “sell” rating in a report on Thursday, May 8th. Citigroup boosted their price objective on Upstart from $87.00 to $108.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $57.00 to $79.00 in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $67.96.

Upstart Trading Up 0.5%

NASDAQ UPST opened at $57.68 on Wednesday. Upstart Holdings, Inc. has a 1-year low of $20.60 and a 1-year high of $96.43. The company has a 50 day moving average of $46.09 and a 200-day moving average of $58.53. The company has a market cap of $5.49 billion, a price-to-earnings ratio of -39.51 and a beta of 2.29.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.11. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. The company had revenue of $213.37 million during the quarter, compared to the consensus estimate of $201.08 million. During the same period in the previous year, the business earned ($0.31) earnings per share. The firm’s quarterly revenue was up 67.0% on a year-over-year basis. On average, equities research analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

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.