Pathstone Holdings LLC Has $24.93 Million Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

Pathstone Holdings LLC cut its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 396,096 shares of the company’s stock after selling 312 shares during the period. Pathstone Holdings LLC owned about 0.43% of Upstart worth $24,932,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its stake in shares of Upstart by 3.1% in the 4th quarter. Jones Financial Companies Lllp now owns 5,511 shares of the company’s stock valued at $339,000 after purchasing an additional 167 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Upstart by 24.2% in 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. Bailard Inc. boosted its position in shares of Upstart by 0.5% during the 4th quarter. Bailard Inc. now owns 38,759 shares of the company’s stock valued at $2,386,000 after purchasing an additional 212 shares in the last quarter. Crestline Management LP boosted its position in shares of Upstart by 3.8% during the 4th quarter. Crestline Management LP now owns 10,004 shares of the company’s stock valued at $616,000 after purchasing an additional 364 shares in the last quarter. Finally, Ancora Advisors LLC boosted its position in shares of Upstart by 31.3% during the 4th quarter. Ancora Advisors LLC now owns 1,575 shares of the company’s stock valued at $97,000 after purchasing an additional 375 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UPST has been the topic of several research analyst reports. B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $105.00 in a research report on Wednesday, February 12th. Needham & Company LLC cut their target price on Upstart from $108.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Piper Sandler cut their target price on shares of Upstart from $105.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Bank of America raised shares of Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a research note on Tuesday, April 29th. Finally, The Goldman Sachs Group increased their target price on shares of Upstart from $15.00 to $16.50 and gave the stock a “sell” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.81.

Upstart Trading Down 4.4%

Upstart stock opened at $51.32 on Thursday. Upstart Holdings, Inc. has a 1-year low of $20.60 and a 1-year high of $96.43. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of -35.15 and a beta of 2.39. The firm’s fifty day moving average price is $46.07 and its two-hundred day moving average price is $60.31.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.11. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. The company had revenue of $213.37 million for the quarter, compared to analyst estimates of $201.08 million. During the same quarter last year, the company earned ($0.31) earnings per share. The company’s revenue for the quarter was up 67.0% 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 Activity at Upstart

In related news, CFO Sanjay Datta sold 16,070 shares of Upstart 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 directly owns 295,537 shares in the company, valued at approximately $23,353,333.74. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Paul Gu sold 12,007 shares of Upstart 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 sale, the chief technology officer now owns 1,006,599 shares in the company, valued at $79,541,452.98. This trade represents a 1.18% 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 over the last ninety days. Corporate insiders own 16.67% of the company’s stock.

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.