Asset Management One Co. Ltd. Lowers Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Asset Management One Co. Ltd. trimmed its holdings in Upstart Holdings, Inc. (NASDAQ:UPST) by 22.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,174 shares of the company’s stock after selling 332 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Upstart were worth $80,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in Upstart in the third quarter valued at $334,000. Tyler Stone Wealth Management boosted its holdings in Upstart by 94.1% in the third quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock valued at $2,222,000 after purchasing an additional 26,917 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Upstart in the third quarter valued at $939,000. Quadrature Capital Ltd purchased a new stake in Upstart in the third quarter valued at $676,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Upstart by 63.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock valued at $29,031,000 after purchasing an additional 282,481 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Upstart

In other Upstart news, CTO Paul Gu sold 87,600 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $69.39, for a total value of $6,078,564.00. Following the completion of the sale, the chief technology officer now owns 863,065 shares in the company, valued at approximately $59,888,080.35. This represents a 9.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Natalia Mirgorodskaya sold 1,411 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $77.36, for a total transaction of $109,154.96. Following the completion of the sale, the insider now directly owns 18,596 shares of the company’s stock, valued at approximately $1,438,586.56. This trade represents a 7.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 193,983 shares of company stock worth $13,598,414. Insiders own 18.06% of the company’s stock.

Upstart Stock Down 9.4 %

UPST opened at $71.77 on Friday. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43. The company has a 50-day moving average price of $68.36 and a 200 day moving average price of $57.13. The company has a market cap of $6.73 billion, a PE ratio of -49.16 and a beta of 2.25.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. As a group, sell-side analysts expect that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

UPST has been the topic of several recent research reports. Needham & Company LLC upped their price target on shares of Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley raised shares of Upstart from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $12.00 to $70.00 in a research note on Friday, February 14th. Bank of America increased their target price on shares of Upstart from $33.00 to $39.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 12th. Wedbush increased their target price on shares of Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Finally, Redburn Atlantic raised shares of Upstart from a “neutral” rating to a “buy” rating and increased their target price for the stock from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $73.38.

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.