Marshall Wace LLP Has $8.46 Million Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Marshall Wace LLP lessened its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 21.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 358,459 shares of the company's stock after selling 98,644 shares during the quarter. Marshall Wace LLP owned 0.41% of Upstart worth $8,456,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in Upstart by 12.2% in the fourth quarter. Principal Financial Group Inc. now owns 8,450 shares of the company's stock valued at $345,000 after purchasing an additional 916 shares during the period. Norges Bank acquired a new position in Upstart during the 4th quarter worth approximately $19,017,000. Hsbc Holdings PLC boosted its holdings in Upstart by 8.2% in the 4th quarter. Hsbc Holdings PLC now owns 29,535 shares of the company's stock worth $1,205,000 after acquiring an additional 2,226 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Upstart by 7,265.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 72,181 shares of the company's stock worth $2,949,000 after acquiring an additional 71,201 shares during the period. Finally, Sierra Summit Advisors LLC acquired a new stake in Upstart in the fourth quarter valued at approximately $272,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

Upstart Trading Down 2.1 %

Shares of Upstart stock traded down $0.84 during trading hours on Monday, reaching $40.01. The company's stock had a trading volume of 4,444,992 shares, compared to its average volume of 6,635,850. Upstart Holdings, Inc. has a one year low of $19.84 and a one year high of $49.62. The company's 50 day simple moving average is $35.28 and its 200 day simple moving average is $28.37.

Upstart (NASDAQ:UPST - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.22. The company had revenue of $127.63 million during the quarter, compared to analyst estimates of $124.55 million. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The business's revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.34) earnings per share. On average, equities analysts expect that Upstart Holdings, Inc. will post -2.39 earnings per share for the current year.

Analyst Ratings Changes

UPST has been the subject of a number of recent analyst reports. Piper Sandler raised their price target on shares of Upstart from $28.00 to $31.00 and gave the company a "neutral" rating in a report on Wednesday, August 7th. Barclays boosted their price target on Upstart from $25.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Monday, August 12th. BTIG Research began coverage on Upstart in a research note on Friday, June 7th. They set a "sell" rating and a $14.00 price objective for the company. Redburn Atlantic raised shares of Upstart from a "sell" rating to a "neutral" rating and upped their price target for the company from $22.50 to $25.50 in a report on Tuesday, June 4th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Upstart in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $27.61.

Insider Buying and Selling at Upstart

In other Upstart news, CFO Sanjay Datta sold 1,500 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the completion of the transaction, the chief financial officer now owns 341,593 shares in the company, valued at approximately $13,663,720. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Chief Legal Officer Scott Darling sold 7,190 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $39.15, for a total transaction of $281,464.77. Following the sale, the insider now owns 176,870 shares of the company's stock, valued at $6,923,876.83. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sanjay Datta sold 1,500 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $40.00, for a total value of $60,000.00. Following the completion of the sale, the chief financial officer now owns 341,593 shares of the company's stock, valued at $13,663,720. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,459 shares of company stock worth $5,939,414. 18.06% of the stock is owned by insiders.

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.