Upstart Holdings, Inc. (NASDAQ:UPST) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lessened its holdings in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 49.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,848 shares of the company's stock after selling 19,607 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Upstart were worth $914,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of UPST. Two Sigma Advisers LP grew its stake in shares of Upstart by 190.2% in the fourth quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company's stock valued at $105,242,000 after buying an additional 1,120,300 shares in the last quarter. Marshall Wace LLP grew its stake in Upstart by 300.2% during the 4th quarter. Marshall Wace LLP now owns 1,061,512 shares of the company's stock worth $65,357,000 after purchasing an additional 796,252 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Upstart during the 4th quarter worth $43,697,000. Fred Alger Management LLC grew its stake in Upstart by 53.6% during the 4th quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company's stock worth $117,914,000 after purchasing an additional 668,282 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Upstart by 886.0% during the 4th quarter. Invesco Ltd. now owns 709,684 shares of the company's stock worth $43,695,000 after purchasing an additional 637,706 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on UPST. The Goldman Sachs Group boosted 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. Piper Sandler raised Upstart to an "overweight" rating and set a $75.00 price objective for the company in a research report on Tuesday, June 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $70.00 price objective on shares of Upstart in a research report on Monday, May 19th. Stephens started coverage on Upstart in a research report on Thursday, June 12th. They set an "equal weight" rating and a $55.00 price objective for the company. Finally, Morgan Stanley reduced their target price on Upstart from $70.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $67.42.

Upstart Stock Up 3.4%

UPST traded up $2.53 on Monday, hitting $76.35. 8,021,082 shares of the company traded hands, compared to its average volume of 6,912,212. The company has a 50 day moving average of $53.79 and a 200-day moving average of $56.55. The stock has a market capitalization of $7.26 billion, a PE ratio of -101.80 and a beta of 2.37. Upstart Holdings, Inc. has a 12-month low of $20.60 and a 12-month high of $96.43.

Upstart (NASDAQ:UPST - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.11. Upstart had a negative return on equity of 15.27% and a negative net margin of 9.20%. The company had revenue of $213.37 million for the quarter, compared to analysts' expectations of $201.08 million. During the same quarter in the previous year, the firm posted ($0.31) EPS. The firm's quarterly revenue was up 67.0% on a year-over-year basis. On average, research analysts anticipate that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Insiders Place Their Bets

In other Upstart news, insider Natalia Mirgorodskaya sold 1,340 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $44.19, for a total transaction of $59,214.60. Following the transaction, the insider owned 24,623 shares in the company, valued at approximately $1,088,090.37. The trade was a 5.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sanjay Datta sold 13,512 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $46.97, for a total value of $634,658.64. Following the transaction, the chief financial officer owned 311,356 shares in the company, valued at $14,624,391.32. The trade was a 4.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,450 shares of company stock worth $5,759,917. Company insiders own 16.67% of the company's stock.

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.