Strategic Family Wealth Counselors L.L.C. Makes New $320,000 Investment in Upstart Holdings, Inc. (NASDAQ:UPST)

Strategic Family Wealth Counselors L.L.C. acquired a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,992 shares of the company’s stock, valued at approximately $320,000.

Several other institutional investors and hedge funds have also recently modified their holdings of UPST. Vanguard Group Inc. grew its position in Upstart by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock valued at $191,698,000 after acquiring an additional 115,057 shares in the last quarter. Liontrust Investment Partners LLP grew its holdings in shares of Upstart by 26.1% in the second quarter. Liontrust Investment Partners LLP now owns 290,000 shares of the company’s stock valued at $6,841,000 after purchasing an additional 60,000 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Upstart by 15.3% in the second quarter. Bank of New York Mellon Corp now owns 272,430 shares of the company’s stock valued at $6,427,000 after acquiring an additional 36,206 shares in the last quarter. Millennium Management LLC lifted its position in shares of Upstart by 1,792.9% during the 2nd quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock worth $6,190,000 after purchasing an additional 277,896 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Upstart by 4,087.8% in the third quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock worth $9,333,000 after acquiring an additional 227,688 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insider Buying and Selling at Upstart

In related news, Chief Legal Officer Scott Darling sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $45.00, for a total value of $405,000.00. Following the sale, the insider now owns 164,870 shares in the company, valued at $7,419,150. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $53.81, for a total value of $80,715.00. Following the transaction, the chief financial officer now owns 335,593 shares of the company’s stock, valued at $18,058,259.33. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chief Legal Officer Scott Darling sold 9,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $45.00, for a total value of $405,000.00. Following the completion of the sale, the insider now directly owns 164,870 shares of the company’s stock, valued at $7,419,150. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 312,959 shares of company stock worth $13,724,175. 18.06% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on UPST shares. JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $30.00 to $45.00 in a report on Friday. Mizuho upped their price objective on shares of Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Wedbush raised their target price on shares of Upstart from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday. Piper Sandler raised shares of Upstart from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $31.00 to $85.00 in a research note on Friday. Finally, Barclays upped their price target on Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.83.

Upstart Stock Up 42.0 %

UPST stock traded up $23.28 during midday trading on Friday, hitting $78.75. The company’s stock had a trading volume of 17,945,066 shares, compared to its average volume of 6,691,508. Upstart Holdings, Inc. has a 12 month low of $19.84 and a 12 month high of $79.64. The company has a 50 day moving average of $43.81 and a two-hundred day moving average of $32.99. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of -32.50 and a beta of 1.97.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.22. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The business had revenue of $127.63 million for the quarter, compared to analyst estimates of $124.55 million. During the same quarter last year, the firm posted ($0.34) earnings per share. The business’s revenue was down 6.0% compared to the same quarter last year. On average, analysts anticipate that Upstart Holdings, Inc. will post -2.39 earnings per share for the current fiscal 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.