Raymond James & Associates Makes New Investment in Upstart Holdings, Inc. (NASDAQ:UPST)

Raymond James & Associates purchased a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,895 shares of the company’s stock, valued at approximately $854,000.

Other hedge funds have also recently modified their holdings of the company. CWM LLC grew its position in Upstart by 56.5% during the 3rd quarter. CWM LLC now owns 1,169 shares of the company’s stock worth $33,000 after purchasing an additional 422 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Upstart in the 3rd quarter valued at $51,000. Compagnie Lombard Odier SCmA increased its position in shares of Upstart by 33.3% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,200 shares of the company’s stock valued at $63,000 after acquiring an additional 550 shares during the period. EMC Capital Management purchased a new position in Upstart in the 3rd quarter worth $106,000. Finally, AdvisorNet Financial Inc lifted its position in Upstart by 31.6% during the 3rd quarter. AdvisorNet Financial Inc now owns 4,165 shares of the company’s stock worth $119,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Insider Activity at Upstart

In other Upstart news, insider Scott Darling sold 1,298 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $35.38, for a total transaction of $45,923.24. Following the transaction, the insider now directly owns 169,527 shares of the company’s stock, valued at $5,997,865.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Upstart news, insider Scott Darling sold 1,298 shares of the business’s stock in a transaction that occurred on 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 directly owns 169,527 shares in the company, valued at approximately $5,997,865.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Paul Gu sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $26.31, for a total value of $1,578,600.00. Following the completion of the transaction, the chief technology officer now owns 893,596 shares in the company, valued at approximately $23,510,510.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,777 shares of company stock valued at $1,830,919. 18.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Bank of America assumed coverage on Upstart in a report on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price objective on the stock. JMP Securities reissued a “market perform” rating on shares of Upstart in a research report on Wednesday, April 17th. Mizuho upped their price objective on shares of Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a report on Thursday, January 18th. Piper Sandler reiterated a “neutral” rating and issued a $28.00 price objective on shares of Upstart in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Upstart presently has an average rating of “Hold” and a consensus target price of $26.00.

Upstart Stock Up 1.0 %

UPST stock opened at $22.08 on Tuesday. Upstart Holdings, Inc. has a 52-week low of $11.93 and a 52-week high of $72.58. The firm has a market cap of $1.94 billion, a P/E ratio of -7.61 and a beta of 1.94. The company’s 50-day simple moving average is $25.36 and its 200-day simple moving average is $29.54.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.05. The company had revenue of $140.31 million for the quarter, compared to the consensus estimate of $135.28 million. Upstart had a negative return on equity of 35.47% and a negative net margin of 46.76%. On average, analysts anticipate that Upstart Holdings, Inc. will post -2.19 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.