The Manufacturers Life Insurance Company Lowers Stock Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

The Manufacturers Life Insurance Company lessened its holdings in Upstart Holdings, Inc. (NASDAQ:UPST) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 43,247 shares of the company’s stock after selling 654 shares during the period. The Manufacturers Life Insurance Company’s holdings in Upstart were worth $2,663,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in UPST. Blair William & Co. IL purchased a new stake in shares of Upstart during the fourth quarter worth about $222,000. Union Bancaire Privee UBP SA bought a new stake in shares of Upstart during the fourth quarter valued at approximately $2,057,000. Vanguard Group Inc. lifted its holdings in shares of Upstart by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company’s stock worth $479,843,000 after buying an additional 369,640 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of Upstart during the fourth quarter worth $271,000. Finally, Mandatum Life Insurance Co Ltd purchased a new position in Upstart during the fourth quarter valued at $372,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Upstart news, CEO Dave Girouard sold 4,524 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.01, for a total value of $357,441.24. Following the completion of the transaction, the chief executive officer now directly owns 52,614 shares in the company, valued at approximately $4,157,032.14. The trade was a 7.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Paul Gu sold 12,007 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $948,793.14. Following the completion of the sale, the chief technology officer now owns 1,006,599 shares in the company, valued at $79,541,452.98. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,395 shares of company stock worth $2,638,828. Company insiders own 16.67% of the company’s stock.

Upstart Stock Performance

Shares of NASDAQ UPST opened at $47.12 on Friday. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43. The company has a market cap of $4.48 billion, a price-to-earnings ratio of -32.27 and a beta of 2.39. The business’s 50 day moving average price is $46.29 and its 200-day moving average price is $60.27.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.11. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. The company had revenue of $213.37 million during the quarter, compared to analyst estimates of $201.08 million. During the same quarter last year, the business posted ($0.31) EPS. The firm’s revenue for the quarter was up 67.0% on a year-over-year basis. Sell-side analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

UPST has been the subject of several research reports. Morgan Stanley dropped their price objective on shares of Upstart from $70.00 to $50.00 and set an “equal weight” rating for the company in a report on Wednesday. Barclays reduced their price objective on Upstart from $93.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Bank of America upgraded Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 target price for the company in a research report on Tuesday, April 29th. The Goldman Sachs Group boosted their price target on shares of Upstart from $15.00 to $16.50 and gave the stock a “sell” rating in a research report on Thursday. Finally, Citigroup increased their price objective on shares of Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Upstart presently has a consensus rating of “Hold” and a consensus price target of $63.42.

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.