Twin Peaks Wealth Advisors LLC Purchases Shares of 5,333 Upstart Holdings, Inc. (NASDAQ:UPST)

Twin Peaks Wealth Advisors LLC acquired a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 5,333 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Millennium Management LLC raised its stake in shares of Upstart by 1,792.9% in the 2nd quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock valued at $6,190,000 after purchasing an additional 277,896 shares during the period. International Assets Investment Management LLC lifted its stake in Upstart by 4,087.8% in the 3rd quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock valued at $9,333,000 after acquiring an additional 227,688 shares in the last quarter. Seven Eight Capital LP boosted its position in Upstart by 349.1% during the 1st quarter. Seven Eight Capital LP now owns 189,385 shares of the company’s stock worth $5,093,000 after acquiring an additional 147,213 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Upstart by 442.1% during the 2nd quarter. SG Americas Securities LLC now owns 148,214 shares of the company’s stock worth $3,496,000 after acquiring an additional 120,871 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Upstart by 1.6% in the first quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock valued at $191,698,000 after purchasing an additional 115,057 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UPST has been the subject of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Citigroup raised Upstart from a “sell” rating to a “neutral” rating and increased their price objective for the company from $15.00 to $33.00 in a report on Wednesday, August 7th. Mizuho boosted their target price on shares of Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Piper Sandler increased their price target on shares of Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Wedbush upgraded shares of Upstart from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $10.00 to $45.00 in a research note on Monday, October 14th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $31.50.

Insiders Place Their Bets

In other news, insider Natalia Mirgorodskaya sold 1,264 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $38.36, for a total transaction of $48,487.04. Following the sale, the insider now directly owns 24,557 shares of the company’s stock, valued at approximately $942,006.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $53.81, for a total value of $80,715.00. Following the sale, the chief financial officer now directly owns 335,593 shares in the company, valued at approximately $18,058,259.33. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,264 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $38.36, for a total transaction of $48,487.04. Following the completion of the sale, the insider now owns 24,557 shares in the company, valued at $942,006.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,459 shares of company stock worth $13,667,605 in the last 90 days. Company insiders own 18.06% of the company’s stock.

Upstart Price Performance

UPST traded up $1.48 during trading on Wednesday, hitting $51.90. The stock had a trading volume of 1,131,184 shares, compared to its average volume of 6,634,159. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of -21.55 and a beta of 2.01. The company has a 50 day moving average price of $42.59 and a 200-day moving average price of $31.73. Upstart Holdings, Inc. has a one year low of $19.84 and a one year high of $57.40.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.22. The business had revenue of $127.63 million for the quarter, compared to analyst estimates of $124.55 million. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. Upstart’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.34) earnings per share. As a group, sell-side analysts predict that Upstart Holdings, Inc. will post -2.39 EPS 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.