Upstart Holdings, Inc. (NASDAQ:UPST) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 42.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,211 shares of the company’s stock after selling 44,174 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of Upstart worth $3,646,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Upstart by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company’s stock valued at $479,843,000 after buying an additional 369,640 shares in the last quarter. Geode Capital Management LLC boosted its stake in Upstart by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,846,438 shares of the company’s stock valued at $113,711,000 after acquiring an additional 29,664 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Upstart by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 657,118 shares of the company’s stock worth $40,459,000 after purchasing an additional 14,242 shares during the last quarter. Trexquant Investment LP increased its position in shares of Upstart by 43.3% during the fourth quarter. Trexquant Investment LP now owns 596,389 shares of the company’s stock worth $36,720,000 after purchasing an additional 180,204 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Upstart in the 4th quarter valued at about $25,158,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Upstart Stock Up 6.2 %

NASDAQ:UPST opened at $46.71 on Friday. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43. The firm’s fifty day simple moving average is $51.19 and its 200-day simple moving average is $60.34. The stock has a market cap of $4.38 billion, a PE ratio of -31.99 and a beta of 2.39.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. Equities analysts anticipate that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on UPST. Bank of America raised their price target on Upstart from $33.00 to $39.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 12th. Needham & Company LLC lifted their target price on shares of Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. The Goldman Sachs Group increased their price target on shares of Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $57.00 to $79.00 in a research note on Wednesday, February 12th. Finally, Morgan Stanley upgraded shares of Upstart from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $12.00 to $70.00 in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $69.46.

Insider Activity

In other Upstart news, CFO Sanjay Datta sold 16,070 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the sale, the chief financial officer now owns 295,537 shares in the company, valued at approximately $23,353,333.74. This represents a 5.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Paul Gu sold 12,007 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value of $948,793.14. Following the transaction, the chief technology officer now directly owns 1,006,599 shares of the company’s stock, valued at $79,541,452.98. The trade was a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,395 shares of company stock worth $2,638,828 over the last 90 days. 16.67% of the stock is currently owned by corporate insiders.

About Upstart

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.