Oppenheimer Asset Management Inc. Buys 3,379 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Oppenheimer Asset Management Inc. raised its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,030 shares of the company’s stock after purchasing an additional 3,379 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Upstart were worth $1,480,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in UPST. US Bancorp DE grew its stake in shares of Upstart by 10.2% in the 3rd quarter. US Bancorp DE now owns 9,032 shares of the company’s stock valued at $361,000 after buying an additional 835 shares during the period. QRG Capital Management Inc. acquired a new stake in Upstart in the third quarter valued at approximately $252,000. Olympiad Research LP bought a new stake in shares of Upstart during the third quarter valued at approximately $346,000. Strategic Family Wealth Counselors L.L.C. bought a new stake in shares of Upstart during the third quarter valued at approximately $320,000. Finally, Hollencrest Capital Management acquired a new position in shares of Upstart during the third quarter worth approximately $40,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Upstart from $33.00 to $39.00 and gave the company an “underperform” rating in a research report on Wednesday, February 12th. Citigroup lifted their price objective on shares of Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Redburn Atlantic upgraded shares of Upstart from a “neutral” rating to a “buy” rating and upped their target price for the stock from $37.00 to $95.00 in a report on Tuesday, December 3rd. Needham & Company LLC lifted their price target on Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, BTIG Research raised Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Upstart has a consensus rating of “Hold” and an average target price of $73.38.

Upstart Price Performance

Shares of NASDAQ:UPST opened at $61.69 on Tuesday. Upstart Holdings, Inc. has a 1 year low of $20.60 and a 1 year high of $96.43. The company has a market capitalization of $5.78 billion, a PE ratio of -42.25 and a beta of 2.25. The business has a fifty day moving average price of $67.50 and a two-hundred day moving average price of $58.85.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. Sell-side analysts anticipate that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Insider Transactions at Upstart

In other Upstart news, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total value of $2,608,354.20. Following the completion of the sale, the chief executive officer now directly owns 57,138 shares of the company’s stock, valued at $3,576,838.80. This trade represents a 42.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Natalia Mirgorodskaya sold 794 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $62,741.88. Following the completion of the sale, the insider now owns 21,985 shares in the company, valued at approximately $1,737,254.70. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,081 shares of company stock worth $5,548,607 in the last quarter. Insiders own 18.06% of the company’s stock.

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.