MML Investors Services LLC Sells 1,926 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

MML Investors Services LLC cut its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 4.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 41,986 shares of the company’s stock after selling 1,926 shares during the period. MML Investors Services LLC’s holdings in Upstart were worth $2,585,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of UPST. Rakuten Securities Inc. bought a new position in shares of Upstart during the fourth quarter worth about $31,000. Farther Finance Advisors LLC grew its holdings in shares of Upstart by 24.2% during the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock worth $54,000 after buying an additional 172 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Upstart by 19.9% during the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $83,000 after buying an additional 224 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Upstart by 49.1% during the fourth quarter. Blue Trust Inc. now owns 1,475 shares of the company’s stock worth $91,000 after buying an additional 486 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Upstart during the fourth quarter worth about $96,000. 63.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a research note on Wednesday, February 12th. Citigroup raised their price target on Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Barclays decreased their price target on Upstart from $93.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Morgan Stanley upgraded Upstart from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $12.00 to $70.00 in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and raised their price target for the company from $57.00 to $79.00 in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Upstart has a consensus rating of “Hold” and an average target price of $69.46.

Upstart Price Performance

NASDAQ:UPST opened at $48.68 on Monday. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $96.43. The company has a market cap of $4.63 billion, a P/E ratio of -33.34 and a beta of 2.39. The firm’s fifty day moving average price is $50.43 and its two-hundred day moving average price is $60.62.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS 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%. As a group, equities research analysts expect that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Insider Activity at Upstart

In related news, CEO Dave Girouard sold 4,524 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $4,157,032.14. This represents a 7.92 % 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, CTO Paul Gu sold 12,007 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $948,793.14. Following the completion of the transaction, the chief technology officer now owns 1,006,599 shares in the company, valued at $79,541,452.98. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,395 shares of company stock worth $2,638,828. Corporate 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.