Upstart Holdings, Inc. (NASDAQ:UPST) Shares Sold by AE Wealth Management LLC

Posted by Defense World Staff on Sep 29th, 2023

AE Wealth Management LLC reduced its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST – Free Report) by 22.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,510 shares of the company’s stock after selling 4,867 shares during the period. AE Wealth Management LLC’s holdings in Upstart were worth $591,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. WMG Financial Advisors LLC boosted its holdings in shares of Upstart by 0.9% during the first quarter. WMG Financial Advisors LLC now owns 82,430 shares of the company’s stock worth $1,311,000 after purchasing an additional 760 shares during the last quarter. Tradition Wealth Management LLC grew its position in Upstart by 981.6% during the first quarter. Tradition Wealth Management LLC now owns 3,818 shares of the company’s stock valued at $61,000 after acquiring an additional 3,465 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Upstart by 32.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 37,514 shares of the company’s stock worth $596,000 after acquiring an additional 9,262 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of Upstart by 10.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 14,201 shares of the company’s stock valued at $226,000 after purchasing an additional 1,310 shares in the last quarter. Finally, Resources Management Corp CT ADV grew its holdings in shares of Upstart by 626,600.0% during the 1st quarter. Resources Management Corp CT ADV now owns 31,335 shares of the company’s stock worth $1,171,000 after purchasing an additional 31,330 shares during the period. 42.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Upstart news, insider Natalia Mirgorodskaya sold 1,421 shares of Upstart stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $33.00, for a total value of $46,893.00. Following the completion of the transaction, the insider now owns 37,318 shares of the company’s stock, valued at $1,231,494. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CTO Paul Gu sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $35.02, for a total transaction of $175,100.00. Following the completion of the transaction, the chief technology officer now owns 867,576 shares of the company’s stock, valued at $30,382,511.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,421 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $33.00, for a total transaction of $46,893.00. Following the transaction, the insider now directly owns 37,318 shares of the company’s stock, valued at approximately $1,231,494. The disclosure for this sale can be found here. Insiders sold a total of 82,263 shares of company stock valued at $2,727,811 over the last 90 days. 18.45% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays raised their price target on shares of Upstart from $17.00 to $31.00 and gave the company an “equal weight” rating in a report on Monday, August 14th. Needham & Company LLC assumed coverage on shares of Upstart in a report on Monday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. raised their price target on shares of Upstart from $23.00 to $28.00 and gave the company an “underweight” rating in a report on Tuesday, August 22nd. Compass Point raised their price target on shares of Upstart from $8.00 to $9.00 and gave the company a “sell” rating in a report on Wednesday, August 23rd. Finally, B. Riley cut their price target on shares of Upstart from $49.00 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, September 21st. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.92.

Read Our Latest Research Report on UPST

Upstart Trading Up 2.5 %

Shares of NASDAQ:UPST opened at $27.59 on Friday. The company has a fifty day simple moving average of $38.86 and a 200 day simple moving average of $29.83. The firm has a market cap of $2.31 billion, a PE ratio of -8.41 and a beta of 1.99. Upstart Holdings, Inc. has a 12-month low of $11.93 and a 12-month high of $72.58.

Upstart (NASDAQ:UPST – Get Free Report) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.15. The business had revenue of $135.77 million during the quarter, compared to analyst estimates of $133.91 million. Upstart had a negative net margin of 49.54% and a negative return on equity of 38.15%. As a group, equities research analysts forecast that Upstart Holdings, Inc. will post -2.41 EPS for the current fiscal year.

Upstart Company Profile

(Free Report)

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform aggregates consumer demand for loans and connects it to its network of the company's AI-enabled bank and credit union partners. The company was founded in 2012 and is headquartered in San Mateo, California.