Wells Fargo & Company MN Has $3.74 Million Stock Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Wells Fargo & Company MN reduced its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 64.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,768 shares of the company's stock after selling 109,738 shares during the quarter. Wells Fargo & Company MN owned about 0.07% of Upstart worth $3,742,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Upstart by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company's stock worth $479,843,000 after acquiring an additional 369,640 shares during the last quarter. Geode Capital Management LLC increased its holdings in Upstart by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,846,438 shares of the company's stock worth $113,711,000 after purchasing an additional 29,664 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Upstart by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 657,118 shares of the company's stock worth $40,459,000 after purchasing an additional 14,242 shares during the last quarter. Trexquant Investment LP lifted its holdings in shares of Upstart by 43.3% in the fourth quarter. Trexquant Investment LP now owns 596,389 shares of the company's stock valued at $36,720,000 after purchasing an additional 180,204 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Upstart in the fourth quarter valued at approximately $25,158,000. Institutional investors own 63.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on UPST shares. Bank of America increased their price target on Upstart from $33.00 to $39.00 and gave the company an "underperform" rating in a research report on Wednesday, February 12th. Citigroup increased their target price on shares of Upstart from $87.00 to $108.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Barclays dropped their price target on shares of Upstart from $93.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Morgan Stanley raised shares of Upstart from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $12.00 to $70.00 in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. raised shares of Upstart from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $57.00 to $79.00 in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $69.46.

Insider Activity

In related news, CEO Dave Girouard sold 4,524 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $79.01, for a total transaction of $357,441.24. Following the completion of the transaction, the chief executive officer now owns 52,614 shares of the company's stock, valued at approximately $4,157,032.14. The trade was a 7.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sanjay Datta sold 16,070 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the completion of the sale, the chief financial officer now owns 295,537 shares in the company, valued at $23,353,333.74. This represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,395 shares of company stock valued at $2,638,828 over the last quarter. Company insiders own 16.67% of the company's stock.

Upstart Trading Up 5.5 %

NASDAQ:UPST opened at $41.93 on Wednesday. The firm's 50 day moving average is $52.68 and its 200 day moving average is $60.42. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $96.43. The stock has a market capitalization of $3.93 billion, a PE ratio of -28.72 and a beta of 2.39.

Upstart (NASDAQ:UPST - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. Research analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

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.

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