Upstart Holdings, Inc. (NASDAQ:UPST) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. reduced its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 27.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,334 shares of the company’s stock after selling 497 shares during the period. Asset Management One Co. Ltd.’s holdings in Upstart were worth $59,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in UPST. Norges Bank acquired a new position in shares of Upstart during the fourth quarter worth $11,225,000. Vanguard Group Inc. increased its stake in shares of Upstart by 16.9% in the first quarter. Vanguard Group Inc. now owns 5,822,210 shares of the company’s stock worth $635,145,000 after buying an additional 840,668 shares during the last quarter. Morgan Stanley increased its stake in shares of Upstart by 65.6% in the third quarter. Morgan Stanley now owns 1,914,933 shares of the company’s stock worth $54,652,000 after buying an additional 758,669 shares during the last quarter. Northern Trust Corp increased its stake in shares of Upstart by 141.6% in the second quarter. Northern Trust Corp now owns 710,654 shares of the company’s stock worth $25,449,000 after buying an additional 416,513 shares during the last quarter. Finally, Pathstone Family Office LLC bought a new stake in shares of Upstart in the third quarter worth $11,332,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Upstart news, CFO Sanjay Datta sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $33.71, for a total value of $33,710.00. Following the completion of the sale, the chief financial officer now directly owns 357,090 shares in the company, valued at $12,037,503.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Upstart news, CFO Sanjay Datta sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $33.71, for a total value of $33,710.00. Following the completion of the sale, the chief financial officer now directly owns 357,090 shares in the company, valued at $12,037,503.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Paul Gu sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $26.31, for a total value of $1,578,600.00. Following the completion of the sale, the chief technology officer now owns 893,596 shares of the company’s stock, valued at $23,510,510.76. The disclosure for this sale can be found here. Insiders sold 70,777 shares of company stock valued at $1,895,669 in the last three months. 18.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Bank of America assumed coverage on shares of Upstart in a research note on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price target for the company. JPMorgan Chase & Co. lowered their target price on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Wednesday, February 14th. Piper Sandler reiterated a “neutral” rating and set a $28.00 target price on shares of Upstart in a research note on Tuesday, March 19th. Finally, Mizuho boosted their target price on shares of Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a research note on Thursday, January 18th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Upstart presently has an average rating of “Hold” and a consensus price target of $26.00.

Upstart Price Performance

Shares of UPST stock opened at $23.82 on Monday. Upstart Holdings, Inc. has a 12-month low of $11.93 and a 12-month high of $72.58. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -8.21 and a beta of 1.94. The business has a 50 day simple moving average of $26.72 and a 200 day simple moving average of $29.75.

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

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.