Edgestream Partners L.P. Sells 17,618 Shares of Upstart Holdings, Inc. $UPST

Edgestream Partners L.P. cut its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 23.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,459 shares of the company’s stock after selling 17,618 shares during the quarter. Edgestream Partners L.P. owned about 0.06% of Upstart worth $3,652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Natixis Advisors LLC grew its holdings in Upstart by 48.0% during the 1st quarter. Natixis Advisors LLC now owns 30,649 shares of the company’s stock worth $1,411,000 after acquiring an additional 9,946 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Upstart by 385.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,950 shares of the company’s stock valued at $90,000 after purchasing an additional 1,548 shares in the last quarter. Vanguard Group Inc. grew its stake in Upstart by 2.8% during the first quarter. Vanguard Group Inc. now owns 8,014,656 shares of the company’s stock worth $368,915,000 after purchasing an additional 221,204 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Upstart by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,518 shares of the company’s stock worth $162,000 after purchasing an additional 353 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Upstart by 6.3% in the first quarter. Swiss National Bank now owns 159,100 shares of the company’s stock valued at $7,323,000 after buying an additional 9,400 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Upstart Trading Up 6.1%

Upstart stock opened at $45.30 on Thursday. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 205.92 and a beta of 2.27. The firm’s fifty day moving average price is $46.22 and its two-hundred day moving average price is $58.76. Upstart Holdings, Inc. has a 1-year low of $31.40 and a 1-year high of $96.43.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, November 4th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.42 by $0.10. Upstart had a net margin of 3.33% and a return on equity of 3.68%. The company had revenue of $258.54 million during the quarter, compared to the consensus estimate of $288.94 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. The firm’s revenue for the quarter was up 70.9% on a year-over-year basis. On average, research analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Insider Buying and Selling

In related news, CTO Paul Gu bought 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were bought at an average price of $39.23 per share, with a total value of $3,923,000.00. Following the completion of the transaction, the chief technology officer directly owned 80,000 shares in the company, valued at approximately $3,138,400. This represents a -500.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sanjay Datta sold 13,624 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $36.58, for a total value of $498,365.92. Following the sale, the chief financial officer owned 284,280 shares of the company’s stock, valued at $10,398,962.40. This trade represents a 4.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 56,874 shares of company stock valued at $3,263,519. Company insiders own 16.67% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Upstart from $88.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Citigroup reduced their price target on shares of Upstart from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. BTIG Research reaffirmed a “neutral” rating on shares of Upstart in a research note on Wednesday, November 5th. Morgan Stanley set a $45.00 price objective on shares of Upstart in a research report on Wednesday, November 5th. Finally, Stephens reduced their target price on Upstart from $55.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.50.

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.