Voloridge Investment Management LLC Sells 315,850 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Voloridge Investment Management LLC cut its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 23.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,026,860 shares of the company’s stock after selling 315,850 shares during the quarter. Voloridge Investment Management LLC’s holdings in Upstart were worth $63,224,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of UPST. Virtus Fund Advisers LLC bought a new stake in shares of Upstart during the 4th quarter valued at $32,000. Virtus Investment Advisers Inc. purchased a new stake in Upstart in the fourth quarter worth about $332,000. Two Sigma Advisers LP increased its stake in shares of Upstart by 190.2% during the fourth quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company’s stock valued at $105,242,000 after purchasing an additional 1,120,300 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Upstart by 20.1% during the fourth quarter. Two Sigma Investments LP now owns 1,922,770 shares of the company’s stock valued at $118,385,000 after purchasing an additional 321,366 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of Upstart during the fourth quarter valued at approximately $413,000. 63.01% of the stock is owned by institutional investors.

Upstart Stock Down 1.7%

Shares of Upstart stock opened at $46.64 on Wednesday. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43. The company has a market cap of $4.44 billion, a price-to-earnings ratio of -31.94 and a beta of 2.39. The company’s 50 day moving average is $46.06 and its 200 day moving average is $60.31.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UPST. Citigroup upped their price target on Upstart from $87.00 to $108.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $57.00 to $79.00 in a report on Wednesday, February 12th. B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and raised their price target for the company from $49.00 to $105.00 in a report on Wednesday, February 12th. The Goldman Sachs Group upped their price target on shares of Upstart from $15.00 to $16.50 and gave the stock a “sell” rating in a research note on Thursday, May 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $70.00 price objective on shares of Upstart in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.81.

Insider Buying and Selling at Upstart

In other news, CFO Sanjay Datta sold 16,070 shares of Upstart stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the transaction, the chief financial officer now owns 295,537 shares in the company, valued at $23,353,333.74. This trade represents a 5.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Paul Gu sold 12,007 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $948,793.14. Following the sale, the chief technology officer now directly owns 1,006,599 shares of the company’s stock, valued at approximately $79,541,452.98. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,395 shares of company stock worth $2,638,828 in the last three months. 16.67% of the stock is currently owned by company insiders.

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.