Upstart Holdings, Inc. (NASDAQ:UPST) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lowered its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 19.2% during the fourth quarter, Holdings Channel reports. The fund owned 2,395 shares of the company’s stock after selling 570 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Upstart were worth $98,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in UPST. Vanguard Group Inc. boosted its stake in Upstart by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,856,199 shares of the company’s stock worth $195,676,000 after buying an additional 87,832 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Upstart by 37.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,250 shares of the company’s stock worth $2,262,000 after buying an additional 21,668 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in Upstart by 5.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 11,805 shares of the company’s stock worth $482,000 after buying an additional 619 shares during the last quarter. Northern Trust Corp boosted its stake in Upstart by 1.1% in the 3rd quarter. Northern Trust Corp now owns 718,745 shares of the company’s stock worth $20,513,000 after buying an additional 8,091 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in Upstart in the 3rd quarter worth about $1,529,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Upstart Trading Up 2.8 %

Shares of NASDAQ:UPST opened at $23.46 on Friday. Upstart Holdings, Inc. has a one year low of $11.93 and a one year high of $72.58. The business’s 50-day simple moving average is $24.95 and its 200 day simple moving average is $29.38.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, February 13th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.05. The business had revenue of $140.31 million for 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 expect that Upstart Holdings, Inc. will post -2.19 earnings per share for the current year.

Insider Activity at Upstart

In other Upstart news, CFO Sanjay Datta sold 1,000 shares of Upstart stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $32.62, for a total transaction of $32,620.00. Following the sale, the chief financial officer now directly owns 356,090 shares in the company, valued at approximately $11,615,655.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Upstart news, CFO Sanjay Datta sold 1,000 shares of Upstart stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $32.62, for a total transaction of $32,620.00. Following the sale, the chief financial officer now directly owns 356,090 shares in the company, valued at approximately $11,615,655.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Darling sold 1,298 shares of Upstart stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $35.38, for a total value of $45,923.24. Following the sale, the insider now owns 169,527 shares in the company, valued at $5,997,865.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,717 shares of company stock worth $1,828,815. 18.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

UPST has been the topic of a number of research analyst reports. Mizuho raised their price target on Upstart from $19.00 to $23.00 and gave the stock an “underperform” rating in a research note on Thursday, January 18th. JMP Securities restated a “market perform” rating on shares of Upstart in a report on Wednesday, April 17th. Piper Sandler restated a “neutral” rating and issued a $28.00 price objective on shares of Upstart in a report on Tuesday, March 19th. Bank of America assumed coverage on Upstart in a report on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on Upstart from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Wednesday, February 14th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Upstart has a consensus rating of “Hold” and an average target price of $26.00.

Upstart 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.