Liontrust Investment Partners LLP Lowers Position in Upstart Holdings, Inc. $UPST

Liontrust Investment Partners LLP trimmed its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 43.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,612 shares of the company’s stock after selling 69,790 shares during the quarter. Liontrust Investment Partners LLP’s holdings in Upstart were worth $5,925,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. KADENSA CAPITAL Ltd acquired a new position in Upstart during the first quarter worth about $18,972,000. Prudential Financial Inc. boosted its stake in shares of Upstart by 1,116.8% during the 2nd quarter. Prudential Financial Inc. now owns 89,675 shares of the company’s stock worth $5,800,000 after acquiring an additional 82,305 shares in the last quarter. Sierra Summit Advisors LLC acquired a new stake in shares of Upstart in the 2nd quarter worth approximately $991,000. Tableaux LLC purchased a new position in Upstart in the 2nd quarter valued at approximately $2,587,000. Finally, Intech Investment Management LLC raised its holdings in Upstart by 70.8% during the first quarter. Intech Investment Management LLC now owns 74,134 shares of the company’s stock worth $3,412,000 after purchasing an additional 30,739 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Sanjay Datta sold 13,624 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $36.58, for a total value of $498,365.92. Following the transaction, the chief financial officer owned 284,280 shares in the company, valued at approximately $10,398,962.40. The trade was a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Paul Gu purchased 100,000 shares of Upstart stock in a transaction that occurred on Tuesday, November 11th. The stock was acquired at an average cost of $39.23 per share, with a total value of $3,923,000.00. Following the acquisition, the chief technology officer directly owned 80,000 shares of the company’s stock, valued at $3,138,400. The trade was a -500.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 15,207 shares of company stock worth $558,080 in the last quarter. 16.67% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley set a $45.00 target price on Upstart in a report on Wednesday, November 5th. Needham & Company LLC lowered their price objective on shares of Upstart from $82.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Stephens cut their target price on shares of Upstart from $55.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. BTIG Research reiterated a “neutral” rating on shares of Upstart in a research report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Upstart in a research note on Monday, December 8th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $60.50.

Upstart Price Performance

Upstart stock opened at $49.35 on Monday. The stock has a market capitalization of $4.80 billion, a P/E ratio of 224.33 and a beta of 2.27. Upstart Holdings, Inc. has a 12-month low of $31.40 and a 12-month high of $96.43. The firm’s 50-day moving average is $45.42 and its two-hundred day moving average is $58.93.

Upstart (NASDAQ:UPST) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. Upstart had a net margin of 3.33% and a return on equity of 3.68%. The business had revenue of $258.54 million during the quarter, compared to analyst estimates of $288.94 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. The company’s revenue was up 70.9% on a year-over-year basis. As a group, analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

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.