Voloridge Investment Management LLC Reduces Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

Voloridge Investment Management LLC lowered its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 23.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,026,860 shares of the company’s stock after selling 315,850 shares during the period. Voloridge Investment Management LLC owned 1.13% of Upstart worth $63,224,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wealthcare Advisory Partners LLC bought a new position in Upstart during the fourth quarter worth about $219,000. Merit Financial Group LLC bought a new position in Upstart in the 4th quarter worth approximately $271,000. Blue Trust Inc. raised its holdings in Upstart by 49.1% during the 4th quarter. Blue Trust Inc. now owns 1,475 shares of the company’s stock valued at $91,000 after acquiring an additional 486 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of Upstart during the fourth quarter worth $2,057,000. Finally, KBC Group NV boosted its holdings in shares of Upstart by 17.8% in the fourth quarter. KBC Group NV now owns 3,088 shares of the company’s stock worth $190,000 after acquiring an additional 467 shares during the period. Institutional investors own 63.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on UPST shares. The Goldman Sachs Group raised their target price on Upstart from $15.00 to $16.50 and gave the stock a “sell” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $57.00 to $79.00 in a research note on Wednesday, February 12th. Barclays increased their target price on shares of Upstart from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Morgan Stanley reduced their price target on shares of Upstart from $70.00 to $50.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price objective on shares of Upstart in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Upstart currently has an average rating of “Hold” and a consensus target price of $63.81.

Insider Buying and Selling at Upstart

In related news, insider Natalia Mirgorodskaya sold 794 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value of $62,741.88. Following the sale, the insider now directly owns 21,985 shares of the company’s stock, valued at $1,737,254.70. This trade represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dave Girouard sold 4,524 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $79.01, for a total value of $357,441.24. Following the transaction, the chief executive officer now directly owns 52,614 shares of the company’s stock, valued at $4,157,032.14. The trade was a 7.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,395 shares of company stock worth $2,638,828. 16.67% of the stock is currently owned by insiders.

Upstart Stock Performance

Shares of UPST opened at $46.64 on Wednesday. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of -31.94 and a beta of 2.39. The firm has a 50 day moving average price of $46.06 and a 200-day moving average price of $60.31.

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

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.