Spire Wealth Management Has $84,000 Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Spire Wealth Management boosted its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 50.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,347 shares of the company’s stock after buying an additional 788 shares during the period. Spire Wealth Management’s holdings in Upstart were worth $84,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Upstart by 104,187.2% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 50,939,090 shares of the company’s stock valued at $1,824,129,000 after purchasing an additional 50,890,245 shares in the last quarter. Prospera Financial Services Inc boosted its stake in shares of Upstart by 17.1% in the 2nd quarter. Prospera Financial Services Inc now owns 34,709 shares of the company’s stock valued at $1,243,000 after purchasing an additional 5,061 shares in the last quarter. American International Group Inc. boosted its stake in shares of Upstart by 4,384.2% in the 2nd quarter. American International Group Inc. now owns 34,708 shares of the company’s stock valued at $1,243,000 after purchasing an additional 33,934 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Upstart by 6.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 247,327 shares of the company’s stock valued at $8,857,000 after purchasing an additional 14,263 shares in the last quarter. Finally, Retireful LLC acquired a new position in Upstart during the 2nd quarter worth about $1,753,000. Institutional investors and hedge funds own 42.50% of the company’s stock.

Analysts Set New Price Targets

UPST has been the topic of several research reports. Needham & Company LLC initiated coverage on shares of Upstart in a research report on Monday, September 25th. They set a “hold” rating on the stock. Mizuho upped their price target on shares of Upstart from $16.00 to $19.00 and gave the stock an “underperform” rating in a research report on Monday, August 14th. B. Riley dropped their price objective on Upstart from $49.00 to $36.00 and set a “neutral” rating for the company in a report on Thursday, September 21st. BTIG Research dropped their price objective on Upstart from $72.00 to $64.00 in a report on Wednesday, August 9th. Finally, Piper Sandler dropped their price objective on Upstart from $35.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, November 8th. Five analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.09.

Insiders Place Their Bets

In other Upstart news, insider Natalia Mirgorodskaya sold 1,421 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $33.00, for a total transaction of $46,893.00. Following the sale, the insider now directly owns 37,318 shares in the company, valued at approximately $1,231,494. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Upstart news, insider Natalia Mirgorodskaya sold 1,421 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $33.00, for a total transaction of $46,893.00. Following the sale, the insider now directly owns 37,318 shares in the company, valued at approximately $1,231,494. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Darling sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $26.58, for a total transaction of $26,580.00. Following the transaction, the insider now directly owns 183,588 shares of the company’s stock, valued at $4,879,769.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,895 shares of company stock worth $1,990,730. Company insiders own 18.45% of the company’s stock.

Upstart Price Performance

Shares of NASDAQ:UPST opened at $25.99 on Tuesday. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -8.47 and a beta of 2.09. The firm’s 50 day simple moving average is $26.58 and its 200 day simple moving average is $32.93. Upstart Holdings, Inc. has a fifty-two week low of $11.93 and a fifty-two week high of $72.58.

Upstart Profile

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform aggregates consumer demand for loans and connects it to its network of the company's AI-enabled bank and credit union partners. The company was founded in 2012 and is headquartered in San Mateo, California.