Edgestream Partners L.P. Sells 17,618 Shares of Upstart Holdings, Inc. $UPST

Edgestream Partners L.P. trimmed its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 23.8% in the second quarter, HoldingsChannel reports. The firm owned 56,459 shares of the company’s stock after selling 17,618 shares during the quarter. Edgestream Partners L.P.’s holdings in Upstart were worth $3,652,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UPST. KADENSA CAPITAL Ltd bought a new position in Upstart in the 1st quarter valued at $18,972,000. Prudential Financial Inc. boosted its holdings in shares of Upstart by 1,116.8% in the 2nd quarter. Prudential Financial Inc. now owns 89,675 shares of the company’s stock worth $5,800,000 after buying an additional 82,305 shares during the last quarter. Sierra Summit Advisors LLC bought a new position in Upstart during the second quarter valued at about $991,000. Tableaux LLC purchased a new stake in Upstart during the second quarter worth about $2,587,000. Finally, Intech Investment Management LLC increased its holdings in Upstart by 70.8% during the first quarter. Intech Investment Management LLC now owns 74,134 shares of the company’s stock worth $3,412,000 after buying an additional 30,739 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

UPST has been the topic of a number of research analyst reports. Needham & Company LLC dropped their target price on shares of Upstart from $82.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Bank of America lowered their price target on shares of Upstart from $81.00 to $71.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. JPMorgan Chase & Co. reduced their price objective on Upstart from $88.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Stephens decreased their target price on Upstart from $55.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Upstart in a research report on Monday. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Upstart presently has a consensus rating of “Hold” and an average target price of $60.50.

Insider Buying and Selling

In other news, CEO Dave Girouard sold 41,667 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $64.93, for a total transaction of $2,705,438.31. Following the sale, the chief executive officer directly owned 52,614 shares in the company, valued at $3,416,227.02. This represents a 44.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sanjay Datta sold 13,624 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $36.58, for a total transaction of $498,365.92. Following the completion of the sale, the chief financial officer directly owned 284,280 shares in the company, valued at approximately $10,398,962.40. The trade was a 4.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 56,874 shares of company stock valued at $3,263,519. 16.67% of the stock is owned by company insiders.

Upstart Trading Up 6.1%

UPST opened at $45.30 on Thursday. Upstart Holdings, Inc. has a 12 month low of $31.40 and a 12 month high of $96.43. The company has a market cap of $4.41 billion, a PE ratio of 205.92 and a beta of 2.27. The company has a 50 day moving average of $46.22 and a 200 day moving average of $58.76.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. Upstart had a net margin of 3.33% and a return on equity of 3.68%. The business had revenue of $258.54 million for the quarter, compared to analysts’ expectations of $288.94 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. The business’s revenue for the quarter was up 70.9% compared to the same quarter last year. Research analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Upstart Company 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.