TCI Wealth Advisors Inc. Has $1.92 Million Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

TCI Wealth Advisors Inc. cut its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 30.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 31,195 shares of the company’s stock after selling 13,561 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Upstart were worth $1,921,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of UPST. Millennium Management LLC boosted its holdings 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 buying an additional 277,896 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Upstart by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,301 shares of the company’s stock valued at $1,045,000 after acquiring an additional 2,976 shares during the period. Algert Global LLC bought a new position in Upstart during the second quarter worth $255,000. Newbridge Financial Services Group Inc. grew its holdings in Upstart by 10.4% in the second quarter. Newbridge Financial Services Group Inc. now owns 9,589 shares of the company’s stock worth $226,000 after purchasing an additional 900 shares during the period. Finally, Keeler & Nadler Financial Planning & Wealth Management bought a new stake in Upstart in the third quarter valued at $280,000. Institutional investors own 63.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and raised their target price for the company from $31.00 to $85.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. downgraded Upstart from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $45.00 to $57.00 in a report on Monday, December 2nd. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and boosted their price target for the company from $56.00 to $87.00 in a research note on Friday, November 8th. Finally, Redburn Atlantic raised shares of Upstart from a “neutral” rating to a “buy” rating and raised their price objective for the company from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.80.

Insider Buying and Selling at Upstart

In other news, insider Natalia Mirgorodskaya sold 1,511 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $69.85, for a total value of $105,543.35. Following the sale, the insider now owns 20,007 shares of the company’s stock, valued at $1,397,488.95. The trade was a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $79.54, for a total transaction of $119,310.00. Following the completion of the transaction, the chief financial officer now directly owns 331,093 shares of the company’s stock, valued at approximately $26,335,137.22. This trade represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 391,035 shares of company stock worth $26,890,777 over the last three months. 18.06% of the stock is currently owned by insiders.

Upstart Stock Performance

NASDAQ:UPST opened at $67.32 on Friday. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $88.95. The firm has a 50-day moving average price of $69.08 and a two-hundred day moving average price of $51.91. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of -34.88 and a beta of 2.26.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.31). The business had revenue of $162.14 million during the quarter, compared to the consensus estimate of $149.94 million. Upstart had a negative net margin of 30.15% and a negative return on equity of 32.57%. During the same quarter last year, the company earned ($0.48) EPS. As a group, sell-side analysts forecast that Upstart Holdings, Inc. will post -2.18 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.