Victory Capital Management Inc. Lowers Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Victory Capital Management Inc. reduced its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 91.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,754 shares of the company’s stock after selling 109,015 shares during the period. Victory Capital Management Inc.’s holdings in Upstart were worth $399,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in shares of Upstart in the fourth quarter valued at $25,000. DekaBank Deutsche Girozentrale acquired a new stake in Upstart in the 3rd quarter valued at about $51,000. Strs Ohio purchased a new position in shares of Upstart in the 4th quarter valued at about $57,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Upstart during the fourth quarter worth about $76,000. Finally, EMC Capital Management purchased a new stake in shares of Upstart during the third quarter worth approximately $106,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Natalia Mirgorodskaya sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $25.48, for a total transaction of $63,700.00. Following the transaction, the insider now owns 29,165 shares of the company’s stock, valued at $743,124.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Dave Girouard sold 2,997 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $25.62, for a total value of $76,783.14. Following the completion of the sale, the chief executive officer now owns 64,873 shares in the company, valued at approximately $1,662,046.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Natalia Mirgorodskaya sold 2,500 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $25.48, for a total transaction of $63,700.00. Following the transaction, the insider now owns 29,165 shares in the company, valued at $743,124.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,954 shares of company stock valued at $4,990,627. Insiders own 18.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on UPST. Wedbush reiterated an “underperform” rating and set a $10.00 price target on shares of Upstart in a report on Wednesday, May 8th. Mizuho decreased their price target on Upstart from $23.00 to $17.00 and set an “underperform” rating for the company in a report on Thursday, May 9th. Bank of America began coverage on Upstart in a report on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price objective on the stock. Piper Sandler restated a “neutral” rating and set a $28.00 target price on shares of Upstart in a research note on Tuesday, March 19th. Finally, JMP Securities reiterated a “market perform” rating on shares of Upstart in a research note on Wednesday, April 17th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $26.78.

Upstart Price Performance

UPST stock opened at $23.35 on Friday. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -11.33 and a beta of 2.01. The company has a fifty day moving average price of $24.74 and a 200 day moving average price of $29.17. Upstart Holdings, Inc. has a 12 month low of $19.84 and a 12 month high of $72.58.

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.