WMG Financial Advisors LLC Sells 22,895 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

WMG Financial Advisors LLC decreased its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 51.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,212 shares of the company's stock after selling 22,895 shares during the period. WMG Financial Advisors LLC's holdings in Upstart were worth $1,306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in UPST. Fred Alger Management LLC lifted its holdings in shares of Upstart by 153.2% during the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company's stock worth $49,886,000 after acquiring an additional 754,416 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Upstart by 689.5% during the third quarter. Two Sigma Advisers LP now owns 589,000 shares of the company's stock worth $23,566,000 after purchasing an additional 514,400 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Upstart by 1,413.7% in the 3rd quarter. Tidal Investments LLC now owns 333,463 shares of the company's stock worth $13,342,000 after purchasing an additional 311,434 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Upstart by 63.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company's stock valued at $29,031,000 after purchasing an additional 282,481 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of Upstart by 416.3% during the 3rd quarter. Quantbot Technologies LP now owns 98,158 shares of the company's stock valued at $3,927,000 after buying an additional 79,146 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several analysts have issued reports on UPST shares. JPMorgan Chase & Co. raised Upstart from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $57.00 to $79.00 in a research note on Wednesday, February 12th. Citigroup lifted their target price on shares of Upstart from $87.00 to $108.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Wedbush boosted their target price on Upstart from $60.00 to $75.00 and gave the company a "neutral" rating in a research note on Monday, December 2nd. Barclays boosted their price objective on Upstart from $80.00 to $93.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 18th. Finally, Needham & Company LLC raised their target price on shares of Upstart from $100.00 to $108.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $73.38.

Insider Buying and Selling at Upstart

In other Upstart news, CFO Sanjay Datta sold 16,070 shares of Upstart stock in a transaction 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 transaction, the chief financial officer now owns 295,537 shares in the company, valued at approximately $23,353,333.74. The trade was a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dave Girouard sold 4,524 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.01, for a total value of $357,441.24. Following the completion of the sale, the chief executive officer now directly owns 52,614 shares in the company, valued at approximately $4,157,032.14. This represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,062 shares of company stock valued at $5,247,182. 18.06% of the stock is currently owned by company insiders.

Upstart Stock Performance

Shares of NASDAQ UPST traded down $1.79 during midday trading on Friday, hitting $53.69. 6,383,378 shares of the company traded hands, compared to its average volume of 6,336,214. Upstart Holdings, Inc. has a 12-month low of $20.60 and a 12-month high of $96.43. The firm has a market cap of $5.03 billion, a P/E ratio of -36.77 and a beta of 2.25. The stock has a 50-day moving average price of $66.82 and a 200 day moving average price of $58.99.

Upstart (NASDAQ:UPST - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts expect 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.