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

EMC Capital Management decreased its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 74.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,100 shares of the company’s stock after selling 14,900 shares during the period. EMC Capital Management’s holdings in Upstart were worth $314,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of UPST. R Squared Ltd acquired a new stake in shares of Upstart during the 4th quarter worth $96,000. Foundations Investment Advisors LLC acquired a new stake in Upstart during the fourth quarter worth about $207,000. KBC Group NV raised its holdings in shares of Upstart by 17.8% in the 4th quarter. KBC Group NV now owns 3,088 shares of the company’s stock worth $190,000 after purchasing an additional 467 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Upstart in the 4th quarter valued at about $2,057,000. Finally, Blue Trust Inc. grew its holdings in shares of Upstart by 49.1% during the 4th quarter. Blue Trust Inc. now owns 1,475 shares of the company’s stock worth $91,000 after purchasing an additional 486 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Upstart Stock Performance

Shares of UPST opened at $68.27 on Thursday. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $88.95. The stock has a 50-day moving average price of $69.17 and a 200 day moving average price of $51.80. The company has a market capitalization of $6.23 billion, a P/E ratio of -35.55 and a beta of 2.26.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.31). Upstart had a negative return on equity of 32.57% and a negative net margin of 30.15%. The company had revenue of $162.14 million for the quarter, compared to analyst estimates of $149.94 million. During the same period in the previous year, the business posted ($0.48) EPS. As a group, equities research analysts forecast that Upstart Holdings, Inc. will post -2.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on UPST. JPMorgan Chase & Co. cut shares of Upstart from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $45.00 to $57.00 in a research report on Monday, December 2nd. Wedbush lifted their target price on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and increased their price target for the company from $31.00 to $85.00 in a report on Friday, November 8th. Needham & Company LLC upgraded Upstart from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Friday, December 13th. Finally, BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Upstart presently has a consensus rating of “Hold” and an average price target of $61.80.

Insider Activity

In other Upstart news, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction on Friday, November 8th. The shares were sold at an average price of $65.15, for a total value of $2,714,605.05. Following the completion of the transaction, the chief executive officer now owns 61,512 shares of the company’s stock, valued at $4,007,506.80. The trade was a 40.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $79.54, for a total transaction of $119,310.00. Following the completion of the transaction, the chief financial officer now owns 331,093 shares in the company, valued at approximately $26,335,137.22. The trade was a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 391,035 shares of company stock worth $26,890,777. 18.06% of the stock is currently owned by corporate insiders.

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.