Duality Advisers LP Sells 8,349 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Duality Advisers LP trimmed its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 45.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,861 shares of the company’s stock after selling 8,349 shares during the quarter. Duality Advisers LP’s holdings in Upstart were worth $403,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Upstart by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,856,199 shares of the company’s stock worth $195,676,000 after acquiring an additional 87,832 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Upstart by 37.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,250 shares of the company’s stock valued at $2,262,000 after acquiring an additional 21,668 shares during the period. Stratos Wealth Partners LTD. lifted its position in shares of Upstart by 5.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 11,805 shares of the company’s stock valued at $482,000 after acquiring an additional 619 shares during the period. Northern Trust Corp lifted its position in shares of Upstart by 1.1% during the 3rd quarter. Northern Trust Corp now owns 718,745 shares of the company’s stock valued at $20,513,000 after acquiring an additional 8,091 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of Upstart during the 3rd quarter valued at $1,529,000. 63.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, insider Natalia Mirgorodskaya sold 1,919 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $24.30, for a total value of $46,631.70. Following the completion of the transaction, the insider now directly owns 28,246 shares in the company, valued at $686,377.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Natalia Mirgorodskaya sold 1,919 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $24.30, for a total value of $46,631.70. Following the sale, the insider now directly owns 28,246 shares of the company’s stock, valued at $686,377.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott Darling sold 1,298 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $35.38, for a total transaction of $45,923.24. Following the completion of the sale, the insider now directly owns 169,527 shares in the company, valued at $5,997,865.26. The disclosure for this sale can be found here. Insiders sold 68,717 shares of company stock worth $1,828,815 over the last quarter. 18.06% of the stock is currently owned by company insiders.

Upstart Stock Performance

UPST opened at $22.83 on Friday. The firm has a 50-day moving average of $25.00 and a 200 day moving average of $29.41. Upstart Holdings, Inc. has a fifty-two week low of $11.93 and a fifty-two week high of $72.58.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.05. The company had revenue of $140.31 million during the quarter, compared to analyst estimates of $135.28 million. Upstart had a negative net margin of 46.76% and a negative return on equity of 35.47%. On average, equities analysts forecast that Upstart Holdings, Inc. will post -2.19 earnings per share for the current fiscal year.

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 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.