Marshall Wace LLP Sells 98,644 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Marshall Wace LLP trimmed its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 21.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 358,459 shares of the company’s stock after selling 98,644 shares during the period. Marshall Wace LLP owned approximately 0.41% of Upstart worth $8,456,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Upstart by 12.2% during the fourth quarter. Principal Financial Group Inc. now owns 8,450 shares of the company’s stock valued at $345,000 after acquiring an additional 916 shares in the last quarter. Norges Bank acquired a new position in Upstart during the fourth quarter worth $19,017,000. Hsbc Holdings PLC lifted its stake in shares of Upstart by 8.2% in the fourth quarter. Hsbc Holdings PLC now owns 29,535 shares of the company’s stock valued at $1,205,000 after buying an additional 2,226 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Upstart by 7,265.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 72,181 shares of the company’s stock valued at $2,949,000 after buying an additional 71,201 shares during the last quarter. Finally, Sierra Summit Advisors LLC acquired a new position in shares of Upstart during the fourth quarter valued at about $272,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Upstart Price Performance

NASDAQ UPST opened at $40.85 on Monday. Upstart Holdings, Inc. has a one year low of $19.84 and a one year high of $49.62. The business’s fifty day moving average is $35.28 and its 200-day moving average is $28.37. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of -19.83 and a beta of 2.03.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.22. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. The company had revenue of $127.63 million during the quarter, compared to analyst estimates of $124.55 million. During the same quarter last year, the business posted ($0.34) EPS. Upstart’s quarterly revenue was down 6.0% compared to the same quarter last year. Research analysts expect that Upstart Holdings, Inc. will post -2.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on UPST shares. JPMorgan Chase & Co. raised their price target on shares of Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Wedbush restated an “underperform” rating and issued a $10.00 target price on shares of Upstart in a report on Wednesday, August 7th. Mizuho upped their price target on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Needham & Company LLC reissued a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Finally, Citigroup raised shares of Upstart from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $15.00 to $33.00 in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $27.61.

Insiders Place Their Bets

In related news, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the completion of the transaction, the chief financial officer now directly owns 341,593 shares in the company, valued at approximately $13,663,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Upstart news, Chief Legal Officer Scott Darling sold 7,190 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $39.15, for a total value of $281,464.77. Following the transaction, the insider now directly owns 176,870 shares in the company, valued at approximately $6,923,876.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the completion of the sale, the chief financial officer now directly owns 341,593 shares in the company, valued at approximately $13,663,720. The disclosure for this sale can be found here. Insiders sold 155,459 shares of company stock valued at $5,939,414 over the last ninety days. 18.06% of the stock is currently owned by insiders.

Upstart 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.