Capital Impact Advisors LLC trimmed its stake in Upstart Holdings, Inc. (NASDAQ:UPST – Get Rating) by 42.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 quarter.
A number of other institutional investors have also modified their holdings of UPST. Liberty One Investment Management LLC purchased a new stake in Upstart in the 3rd quarter worth approximately $63,000. Twinbeech Capital LP purchased a new stake in Upstart in the 3rd quarter valued at about $3,019,000. Kamunting Street Capital Management L.P. increased its stake 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 valued at $674,000 after acquiring an additional 10,000 shares during the last quarter. Liontrust Investment Partners LLP lifted its holdings 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 acquiring an additional 45,000 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in shares of Upstart in the third quarter worth approximately $602,000. Institutional investors and hedge funds own 37.43% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on UPST. Loop Capital upgraded Upstart from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Wednesday, February 15th. Compass Point initiated coverage on shares of Upstart in a report on Tuesday, March 7th. They issued a “sell” rating on the stock. Mizuho decreased their price objective on shares of Upstart from $16.00 to $14.00 and set an “underperform” rating for the company in a research note on Tuesday, February 21st. Citigroup downgraded shares of Upstart from a “neutral” rating to a “sell” rating in a research note on Wednesday, February 15th. Finally, Piper Sandler restated a “neutral” rating and set a $16.00 target price on shares of Upstart in a report on Wednesday, February 15th. Nine equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.69.
Upstart Stock Performance
Upstart (NASDAQ:UPST – Get Rating) last announced its quarterly earnings data on Tuesday, February 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.98) by $0.31. The firm had revenue of $146.91 million for the quarter, compared to analysts’ expectations of $132.13 million. Upstart had a negative return on equity of 14.37% and a negative net margin of 12.90%. On average, equities research analysts forecast that Upstart Holdings, Inc. will post -2.86 EPS for the current fiscal year.
Insider Activity at Upstart
In other news, CFO Sanjay Datta sold 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, December 27th. The stock was 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 of the company’s stock, valued at $3,579,849.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Upstart news, CFO Sanjay Datta sold 3,200 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Paul Gu sold 9,674 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $18.14, for a total value of $175,486.36. Following the transaction, the chief technology officer now owns 730,230 shares of the company’s stock, valued at $13,246,372.20. The disclosure for this sale can be found here. Insiders sold a total of 60,484 shares of company stock valued at $1,025,124 in the last quarter. Insiders own 18.87% of the company’s stock.
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 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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