Orion Capital Management LLC Sells 1,300 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Orion Capital Management LLC decreased its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 23.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,260 shares of the company’s stock after selling 1,300 shares during the quarter. Orion Capital Management LLC’s holdings in Upstart were worth $262,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UPST. Rakuten Securities Inc. acquired a new position in shares of Upstart during the fourth quarter worth approximately $31,000. Virtus Fund Advisers LLC bought a new position in Upstart during the fourth quarter worth $32,000. Farther Finance Advisors LLC raised its stake in Upstart by 24.2% during the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock valued at $54,000 after purchasing an additional 172 shares during the last quarter. Blue Trust Inc. raised its stake in Upstart by 49.1% during the 4th quarter. Blue Trust Inc. now owns 1,475 shares of the company’s stock valued at $91,000 after purchasing an additional 486 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Upstart in the 4th quarter valued at $96,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Upstart Stock Performance

UPST opened at $46.64 on Wednesday. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of -31.94 and a beta of 2.39. The firm’s 50-day simple moving average is $46.06 and its 200-day simple moving average is $60.31. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.11. The firm had revenue of $213.37 million for the quarter, compared to analyst estimates of $201.08 million. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. The company’s revenue for the quarter was up 67.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.31) earnings per share. As a group, sell-side analysts anticipate that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on UPST shares. B. Riley upgraded shares of Upstart from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $49.00 to $105.00 in a report on Wednesday, February 12th. Morgan Stanley cut their price target on Upstart from $70.00 to $50.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $57.00 to $79.00 in a research report on Wednesday, February 12th. Needham & Company LLC restated a “buy” rating and set a $70.00 price objective on shares of Upstart in a research report on Monday. Finally, Bank of America upgraded Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 target price for the company in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.81.

Insider Transactions at Upstart

In other news, CTO Paul Gu sold 12,007 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 $948,793.14. Following the sale, the chief technology officer now owns 1,006,599 shares in the company, valued at approximately $79,541,452.98. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dave Girouard sold 4,524 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.01, for a total value of $357,441.24. Following the completion of the sale, the chief executive officer now owns 52,614 shares of the company’s stock, valued at approximately $4,157,032.14. This trade represents a 7.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,395 shares of company stock valued at $2,638,828 in the last three months. 16.67% of the stock is owned by corporate insiders.

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.