Duality Advisers LP Sells 8,349 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Duality Advisers LP cut its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 45.8% in the fourth quarter, HoldingsChannel reports. The fund owned 9,861 shares of the company’s stock after selling 8,349 shares during the period. Duality Advisers LP’s holdings in Upstart were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. CWM LLC boosted its stake in Upstart by 56.5% in the 3rd quarter. CWM LLC now owns 1,169 shares of the company’s stock worth $33,000 after purchasing an additional 422 shares during the period. SG Americas Securities LLC boosted its stake in Upstart by 280.0% in the 3rd quarter. SG Americas Securities LLC now owns 26,390 shares of the company’s stock worth $753,000 after purchasing an additional 19,445 shares during the period. Compagnie Lombard Odier SCmA boosted its stake in Upstart by 33.3% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,200 shares of the company’s stock worth $63,000 after purchasing an additional 550 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Upstart by 7.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 26,074 shares of the company’s stock worth $744,000 after purchasing an additional 1,730 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Upstart by 62.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,935 shares of the company’s stock worth $2,281,000 after purchasing an additional 30,708 shares during the period. 63.01% of the stock is currently owned by institutional investors.

Upstart Stock Down 1.3 %

Shares of UPST stock opened at $22.83 on Friday. Upstart Holdings, Inc. has a 1-year low of $11.93 and a 1-year high of $72.58. The stock’s 50-day moving average is $25.00 and its 200 day moving average is $29.41.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.05. The business had revenue of $140.31 million during the quarter, compared to the consensus estimate of $135.28 million. Upstart had a negative return on equity of 35.47% and a negative net margin of 46.76%. On average, analysts forecast that Upstart Holdings, Inc. will post -2.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

UPST has been the subject of a number of research reports. Piper Sandler reiterated a “neutral” rating and set a $28.00 target price on shares of Upstart in a research report on Tuesday, March 19th. JPMorgan Chase & Co. decreased their price target on Upstart from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Wednesday, February 14th. Mizuho increased their price target on Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a report on Thursday, January 18th. Bank of America initiated coverage on Upstart in a report on Thursday, April 4th. They set an “underperform” rating and a $22.00 price target on the stock. Finally, JMP Securities restated a “market perform” rating on shares of Upstart in a report on Wednesday, April 17th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.00.

Insiders Place Their Bets

In other Upstart news, insider Natalia Mirgorodskaya sold 1,919 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $24.30, for a total value of $46,631.70. Following the completion of the sale, the insider now owns 28,246 shares of the company’s stock, valued at $686,377.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Upstart news, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $32.62, for a total value of $32,620.00. Following the completion of the transaction, the chief financial officer now directly owns 356,090 shares of the company’s stock, valued at $11,615,655.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,919 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $24.30, for a total value of $46,631.70. Following the transaction, the insider now directly owns 28,246 shares of the company’s stock, valued at $686,377.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,717 shares of company stock valued at $1,828,815. 18.06% of the stock is currently owned by corporate insiders.

Upstart Company Profile

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.