Prakash Investment Advisors LLC Acquires New Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Prakash Investment Advisors LLC acquired a new stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,475 shares of the company’s stock, valued at approximately $707,000. Upstart accounts for about 0.7% of Prakash Investment Advisors LLC’s investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB lifted its position in Upstart by 30.2% during the fourth quarter. Handelsbanken Fonder AB now owns 19,400 shares of the company’s stock valued at $1,194,000 after purchasing an additional 4,500 shares during the period. Ieq Capital LLC lifted its position in Upstart by 10.9% during the fourth quarter. Ieq Capital LLC now owns 7,213 shares of the company’s stock valued at $444,000 after purchasing an additional 707 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Upstart during the fourth quarter valued at approximately $235,000. Atria Wealth Solutions Inc. lifted its position in Upstart by 186.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 19,009 shares of the company’s stock valued at $1,170,000 after purchasing an additional 12,378 shares during the period. Finally, Truist Financial Corp lifted its position in Upstart by 20.3% during the fourth quarter. Truist Financial Corp now owns 27,113 shares of the company’s stock valued at $1,669,000 after purchasing an additional 4,567 shares during the period. Institutional investors own 63.01% of the company’s stock.

Insider Buying and Selling at Upstart

In other Upstart news, CTO Paul Gu sold 4,019 shares of Upstart stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $75.00, for a total value of $301,425.00. Following the sale, the chief technology officer now directly owns 863,065 shares in the company, valued at approximately $64,729,875. The trade was a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the completion of the sale, the chief executive officer now owns 57,138 shares in the company, valued at approximately $3,576,838.80. This represents a 42.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 193,983 shares of company stock worth $13,598,414. Insiders own 18.06% of the company’s stock.

Upstart Stock Performance

UPST opened at $79.21 on Friday. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43. The firm’s fifty day moving average is $68.61 and its 200 day moving average is $56.80.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wedbush increased their price objective on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Morgan Stanley upgraded shares of Upstart from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $12.00 to $70.00 in a research note on Friday, February 14th. B. Riley upgraded shares of Upstart from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $105.00 in a research note on Wednesday, February 12th. Piper Sandler reiterated an “overweight” rating and set a $105.00 price target (up previously from $85.00) on shares of Upstart in a research note on Wednesday, February 12th. Finally, Redburn Atlantic upgraded shares of Upstart from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $73.38.

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.