Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Sells 19,699 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lessened its stake in Upstart Holdings, Inc. (NASDAQ:UPSTGet Rating) by 45.7% in the third quarter, HoldingsChannel reports. The fund owned 23,360 shares of the company’s stock after selling 19,699 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Upstart were worth $486,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GPS Wealth Strategies Group LLC lifted its stake in shares of Upstart by 366.6% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,353 shares of the company’s stock valued at $43,000 after acquiring an additional 1,063 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Upstart by 15.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 31,043 shares of the company’s stock valued at $982,000 after purchasing an additional 4,101 shares during the last quarter. TCI Wealth Advisors Inc. raised its position in Upstart by 49.9% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 28,875 shares of the company’s stock valued at $913,000 after purchasing an additional 9,609 shares during the last quarter. Arcadia Investment Management Corp MI raised its position in Upstart by 96.6% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 4,477 shares of the company’s stock valued at $142,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in Upstart by 40.7% during the 2nd quarter. Captrust Financial Advisors now owns 2,584 shares of the company’s stock valued at $82,000 after purchasing an additional 747 shares during the last quarter. Institutional investors own 37.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on UPST. Mizuho upped their price target on Upstart to $14.00 and gave the company an “underperform” rating in a research report on Monday, December 12th. Piper Sandler upped their price target on Upstart from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, January 18th. Barclays decreased their target price on Upstart to $17.00 in a research report on Tuesday, November 15th. Citigroup decreased their target price on Upstart from $33.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Bank of America lowered Upstart from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $34.00 to $15.00 in a research report on Thursday, November 10th. Seven investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.21.

Insider Buying and Selling at Upstart

In other Upstart news, Director Kerry Whorton Cooper sold 2,000 shares of the stock in a transaction on Friday, November 11th. The stock was sold at an average price of $20.92, for a total transaction of $41,840.00. Following the sale, the director now directly owns 768 shares in the company, valued at approximately $16,066.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Upstart news, Director Kerry Whorton Cooper sold 2,000 shares of the stock in a transaction on Friday, November 11th. The stock was sold at an average price of $20.92, for a total transaction of $41,840.00. Following the sale, the director now directly owns 768 shares in the company, valued at approximately $16,066.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sanjay Datta sold 3,200 shares of the stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $12.99, for a total value of $41,568.00. Following the sale, the chief financial officer now owns 275,585 shares in the company, valued at $3,579,849.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,293 shares of company stock worth $577,988. Insiders own 18.87% of the company’s stock.

Upstart Stock Up 11.0 %

Upstart stock opened at $17.29 on Monday. The company has a market capitalization of $1.42 billion, a P/E ratio of -172.90 and a beta of 1.32. The stock’s 50 day moving average is $16.31 and its 200 day moving average is $22.05. Upstart Holdings, Inc. has a twelve month low of $12.01 and a twelve month high of $161.00.

Upstart (NASDAQ:UPSTGet Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.23). Upstart had a return on equity of 0.70% and a net margin of 0.55%. The company had revenue of $157.23 million during the quarter, compared to analysts’ expectations of $171.67 million. As a group, equities analysts expect that Upstart Holdings, Inc. will post -1.63 EPS for the current year.

Upstart Profile

(Get Rating)

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 partners. The company was founded in 2012 and is headquartered in San Mateo, California.

See Also

Want to see what other hedge funds are holding UPST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Upstart Holdings, Inc. (NASDAQ:UPSTGet Rating).

Institutional Ownership by Quarter for Upstart (NASDAQ:UPST)

Receive News & Ratings for Upstart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Upstart and related companies with MarketBeat.com's FREE daily email newsletter.