Advisory Services Network LLC Sells 36,494 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Advisory Services Network LLC reduced its holdings in Upstart Holdings, Inc. (NASDAQ:UPSTFree Report) by 74.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,627 shares of the company’s stock after selling 36,494 shares during the quarter. Advisory Services Network LLC’s holdings in Upstart were worth $516,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new position in shares of Upstart in the 4th quarter worth about $25,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Upstart in the 3rd quarter worth about $51,000. Strs Ohio purchased a new position in shares of Upstart in the 4th quarter worth about $57,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Upstart in the 4th quarter worth about $76,000. Finally, EMC Capital Management purchased a new position in shares of Upstart in the 3rd quarter worth about $106,000. 63.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Upstart news, CTO Paul Gu sold 80,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $29.52, for a total value of $2,361,600.00. Following the completion of the sale, the chief technology officer now owns 893,596 shares in the company, valued at approximately $26,378,953.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Dave Girouard sold 2,997 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $25.62, for a total value of $76,783.14. Following the completion of the transaction, the chief executive officer now owns 64,873 shares of the company’s stock, valued at approximately $1,662,046.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Paul Gu sold 80,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $29.52, for a total value of $2,361,600.00. Following the completion of the transaction, the chief technology officer now directly owns 893,596 shares of the company’s stock, valued at approximately $26,378,953.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 181,610 shares of company stock worth $5,002,963. 18.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on UPST. Bank of America began coverage on Upstart in a report on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price objective for the company. Mizuho cut their price objective on Upstart from $23.00 to $17.00 and set an “underperform” rating for the company in a report on Thursday, May 9th. Wedbush reiterated an “underperform” rating and issued a $10.00 price objective on shares of Upstart in a report on Wednesday, May 8th. JMP Securities restated a “market perform” rating on shares of Upstart in a report on Wednesday, April 17th. Finally, Piper Sandler restated a “neutral” rating and set a $28.00 target price on shares of Upstart in a report on Tuesday, March 19th. Five equities 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 stock. According to data from MarketBeat, Upstart has a consensus rating of “Hold” and an average target price of $26.78.

View Our Latest Report on Upstart

Upstart Trading Up 1.8 %

NASDAQ UPST opened at $24.72 on Friday. Upstart Holdings, Inc. has a fifty-two week low of $19.84 and a fifty-two week high of $72.58. The stock has a 50 day simple moving average of $24.58 and a two-hundred day simple moving average of $29.23.

Upstart (NASDAQ:UPSTGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.06. Upstart had a negative return on equity of 27.89% and a negative net margin of 32.59%. The business had revenue of $127.79 million during the quarter, compared to analysts’ expectations of $124.82 million. On average, sell-side analysts expect that Upstart Holdings, Inc. will post -2.67 earnings per share for the current year.

About Upstart

(Free Report)

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.

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Institutional Ownership by Quarter for Upstart (NASDAQ:UPST)

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