Quantbot Technologies LP Sells 65,705 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Quantbot Technologies LP decreased its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 66.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,453 shares of the company’s stock after selling 65,705 shares during the period. Quantbot Technologies LP’s holdings in Upstart were worth $1,998,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Upstart by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock valued at $72,702,000 after purchasing an additional 29,482 shares in the last quarter. Fred Alger Management LLC grew its position in shares of Upstart by 153.2% during the third quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock valued at $49,886,000 after purchasing an additional 754,416 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Upstart by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 657,118 shares of the company’s stock valued at $40,459,000 after purchasing an additional 14,242 shares in the last quarter. Two Sigma Advisers LP grew its position in shares of Upstart by 689.5% during the third quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock valued at $23,566,000 after purchasing an additional 514,400 shares in the last quarter. Finally, Tidal Investments LLC grew its position in shares of Upstart by 1,413.7% during the third quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock valued at $13,342,000 after purchasing an additional 311,434 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Upstart Price Performance

Shares of NASDAQ:UPST opened at $51.96 on Monday. Upstart Holdings, Inc. has a 1 year low of $20.60 and a 1 year high of $96.43. The business has a 50 day simple moving average of $64.09 and a two-hundred day simple moving average of $59.89. The firm has a market capitalization of $4.87 billion, a PE ratio of -35.59 and a beta of 2.25.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. Equities research analysts expect that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

UPST has been the subject of a number of research analyst reports. Citigroup raised their price objective on Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. The Goldman Sachs Group lifted their price target on Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a research report on Wednesday, February 12th. Barclays lifted their price target on Upstart from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 18th. Needham & Company LLC lifted their price target on Upstart from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Wedbush lifted their price target on Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Upstart presently has an average rating of “Hold” and a consensus target price of $73.38.

Insider Activity

In other news, CFO Sanjay Datta sold 16,070 shares of Upstart stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 295,537 shares of the company’s stock, valued at approximately $23,353,333.74. The trade was a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Natalia Mirgorodskaya sold 794 shares of Upstart stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction 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 represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,062 shares of company stock valued at $5,247,182. Corporate insiders own 18.06% of the company’s stock.

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.