Legacy Capital Group California Inc. Sells 476 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Legacy Capital Group California Inc. cut its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,704 shares of the company’s stock after selling 476 shares during the quarter. Upstart accounts for about 0.6% of Legacy Capital Group California Inc.’s portfolio, making the stock its 22nd biggest position. Legacy Capital Group California Inc.’s holdings in Upstart were worth $2,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Los Angeles Capital Management LLC bought a new position in Upstart in the 3rd quarter valued at $334,000. Tyler Stone Wealth Management lifted its holdings in Upstart by 94.1% during the third quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock valued at $2,222,000 after purchasing an additional 26,917 shares during the last quarter. Intech Investment Management LLC bought a new position in Upstart during the third quarter worth about $939,000. Quadrature Capital Ltd purchased a new position in shares of Upstart in the third quarter worth about $676,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Upstart by 63.8% in the third 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 period. Institutional investors own 63.01% of the company’s stock.

Upstart Trading Down 4.7 %

UPST opened at $79.21 on Friday. The stock has a 50-day moving average price of $68.61 and a 200-day moving average price of $56.80. Upstart Holdings, Inc. has a 12-month low of $20.60 and a 12-month high of $96.43.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. On average, research analysts anticipate that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Activity

In other Upstart news, CTO Paul Gu sold 58,786 shares of Upstart stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $75.93, for a total value of $4,463,620.98. Following the transaction, the chief technology officer now directly owns 863,065 shares of the company’s stock, valued at $65,532,525.45. The trade was a 6.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kerry Whorton Cooper sold 500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $74.59, for a total value of $37,295.00. Following the completion of the sale, the director now owns 17,961 shares of the company’s stock, valued at $1,339,710.99. The trade was a 2.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 193,983 shares of company stock valued at $13,598,414. Corporate insiders own 18.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. BTIG Research raised shares of Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 price target (up from $85.00) on shares of Upstart in a report on Wednesday, February 12th. Redburn Atlantic upgraded Upstart from a “neutral” rating to a “buy” rating and lifted their price target for the company from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Morgan Stanley raised Upstart from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $12.00 to $70.00 in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $57.00 to $79.00 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 assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.38.

Upstart 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.