Upstart Holdings, Inc. (NASDAQ:UPST) Shares Sold by Atomi Financial Group Inc.

Atomi Financial Group Inc. reduced its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 79.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,333 shares of the company’s stock after selling 46,410 shares during the period. Atomi Financial Group Inc.’s holdings in Upstart were worth $759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Upstart by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock valued at $72,702,000 after buying an additional 29,482 shares in the last quarter. Fred Alger Management LLC increased its stake in shares of Upstart by 153.2% in the 3rd 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. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Upstart by 63.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after purchasing an additional 282,481 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Upstart by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 642,876 shares of the company’s stock worth $25,721,000 after purchasing an additional 32,052 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in Upstart by 689.5% in 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 during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

Upstart Stock Performance

Shares of Upstart stock opened at $65.55 on Thursday. The business’s 50 day moving average price is $69.39 and its 200 day moving average price is $50.34. The company has a market cap of $5.98 billion, a price-to-earnings ratio of -33.96 and a beta of 2.26. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $88.95.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.31). Upstart had a negative return on equity of 32.57% and a negative net margin of 30.15%. The company had revenue of $162.14 million for the quarter, compared to analysts’ expectations of $149.94 million. During the same quarter in the prior year, the firm earned ($0.48) EPS. On average, analysts predict that Upstart Holdings, Inc. will post -2.18 EPS for the current fiscal year.

Insider Buying and Selling at Upstart

In other Upstart news, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction on Monday, November 11th. The stock was sold at an average price of $79.54, for a total value of $119,310.00. Following the sale, the chief financial officer now owns 331,093 shares in the company, valued at $26,335,137.22. The trade was a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dave Girouard sold 41,667 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $65.41, for a total value of $2,725,438.47. Following the transaction, the chief executive officer now owns 61,512 shares of the company’s stock, valued at approximately $4,023,499.92. This represents a 40.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 392,535 shares of company stock worth $26,968,327 in the last ninety days. 18.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

UPST has been the subject of several research analyst reports. Piper Sandler raised Upstart from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $31.00 to $85.00 in a research note on Friday, November 8th. BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and lifted their target price for the company from $56.00 to $87.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered shares of Upstart from a “neutral” rating to an “underweight” rating and raised their price target for the company from $45.00 to $57.00 in a research note on Monday, December 2nd. Finally, Needham & Company LLC upgraded Upstart from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Friday, December 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.80.

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.