Capital Impact Advisors LLC reduced its position in Upstart Holdings, Inc. (NASDAQ:UPST – Get Rating) by 42.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,896 shares of the company’s stock after selling 2,902 shares during the quarter. Capital Impact Advisors LLC’s holdings in Upstart were worth $76,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Liberty One Investment Management LLC bought a new position in Upstart in the third quarter valued at approximately $63,000. Twinbeech Capital LP bought a new position in shares of Upstart in the 3rd quarter valued at $3,019,000. Kamunting Street Capital Management L.P. raised its holdings in shares of Upstart by 44.6% during the 3rd quarter. Kamunting Street Capital Management L.P. now owns 32,406 shares of the company’s stock worth $674,000 after buying an additional 10,000 shares in the last quarter. Liontrust Investment Partners LLP lifted its position in shares of Upstart by 40.9% during the 3rd quarter. Liontrust Investment Partners LLP now owns 155,000 shares of the company’s stock worth $3,222,000 after buying an additional 45,000 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in Upstart in the third quarter valued at about $602,000. 37.43% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
UPST has been the subject of several research analyst reports. Piper Sandler reissued a “neutral” rating and set a $16.00 target price on shares of Upstart in a research note on Wednesday, February 15th. Loop Capital raised shares of Upstart from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Wednesday, February 15th. Citigroup downgraded Upstart from a “neutral” rating to a “sell” rating in a report on Wednesday, February 15th. Compass Point started coverage on Upstart in a report on Tuesday, March 7th. They issued a “sell” rating for the company. Finally, Mizuho reduced their price target on Upstart from $16.00 to $14.00 and set an “underperform” rating on the stock in a report on Tuesday, February 21st. Nine equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Upstart has an average rating of “Hold” and a consensus price target of $31.69.
Upstart Trading Up 4.2 %
Upstart (NASDAQ:UPST – Get Rating) last posted its quarterly earnings results on Tuesday, February 14th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.98) by $0.31. The firm had revenue of $146.91 million during the quarter, compared to the consensus estimate of $132.13 million. Upstart had a negative net margin of 12.90% and a negative return on equity of 14.37%. On average, analysts forecast that Upstart Holdings, Inc. will post -2.86 earnings per share for the current year.
Insider Transactions at Upstart
In other news, CFO Sanjay Datta sold 3,200 shares of Upstart stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $12.99, for a total transaction of $41,568.00. Following the completion of the transaction, the chief financial officer now directly owns 275,585 shares in the company, valued at $3,579,849.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Upstart news, CTO Paul Gu sold 9,674 shares of the stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $18.14, for a total value of $175,486.36. Following the completion of the sale, the chief technology officer now owns 730,230 shares in the company, valued at approximately $13,246,372.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Sanjay Datta sold 3,200 shares of Upstart stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $12.99, for a total value of $41,568.00. Following the completion of the sale, the chief financial officer now directly owns 275,585 shares of the company’s stock, valued at approximately $3,579,849.15. The disclosure for this sale can be found here. Insiders have sold 60,484 shares of company stock valued at $1,025,124 over the last ninety days. 18.87% of the stock is owned by company insiders.
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.
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