Upstart Holdings, Inc. $UPST Position Decreased by CenterBook Partners LP

CenterBook Partners LP cut its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 36.8% in the third quarter, Holdings Channel.com reports. The firm owned 42,561 shares of the company’s stock after selling 24,757 shares during the quarter. CenterBook Partners LP’s holdings in Upstart were worth $978,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Maxi Investments CY Ltd acquired a new position in Upstart during the second quarter worth $6,852,000. Legal & General Group Plc purchased a new stake in Upstart in the 2nd quarter valued at $2,589,000. The Manufacturers Life Insurance Company purchased a new stake in Upstart in the 2nd quarter valued at $1,557,000. SBI Securities Co. Ltd. increased its stake in shares of Upstart by 654.0% in the 3rd quarter. SBI Securities Co. Ltd. now owns 126,246 shares of the company’s stock worth $2,902,000 after acquiring an additional 109,502 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Upstart in the 2nd quarter worth $3,385,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Sanjay Datta sold 116,000 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $27.29, for a total transaction of $3,165,640.00. Following the completion of the sale, the insider directly owned 476,578 shares of the company’s stock, valued at approximately $13,005,813.62. This trade represents a 19.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Natalia Mirgorodskaya sold 913 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $30.03, for a total transaction of $27,417.39. Following the completion of the sale, the insider owned 35,875 shares in the company, valued at approximately $1,077,326.25. This trade represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 148,652 shares of company stock worth $4,133,720. Company insiders own 17.29% of the company’s stock.

Analyst Upgrades and Downgrades

UPST has been the topic of several analyst reports. B. Riley Financial reiterated a “buy” rating and set a $42.00 price target (down from $54.00) on shares of Upstart in a report on Wednesday, November 4th. The Goldman Sachs Group dropped their price objective on shares of Upstart from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, November 4th. Mizuho set a $35.00 price objective on shares of Upstart in a research report on Wednesday, November 4th. Loop Capital assumed coverage on shares of Upstart in a research report on Tuesday, September 8th. They set a “hold” rating and a $34.00 price objective for the company. Finally, Weiss Ratings raised shares of Upstart from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.40.

Upstart Stock Performance

UPST opened at $20.41 on Wednesday. The stock has a market capitalization of $2.02 billion, a PE ratio of 34.59, a P/E/G ratio of 2.16 and a beta of 2.48. Upstart Holdings, Inc. has a one year low of $19.71 and a one year high of $52.10. The business’s 50 day moving average price is $24.20 and its 200 day moving average price is $29.15.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, November 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.13. Upstart had a return on equity of 9.67% and a net margin of 4.86%. The company had revenue of $370.52 million during the quarter, compared to analysts’ expectations of $362.68 million. During the same quarter last year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. As a group, equities research analysts forecast that Upstart Holdings, Inc. will post 0.38 earnings per share for the current fiscal year.

Upstart Company Profile

Upstart Holdings, Inc. operates an artificial intelligence–based lending marketplace that connects consumers seeking loans with banks and credit unions. Its platform uses machine-learning models and borrower data to help lending partners assess credit risk and make lending decisions. The company’s offerings include personal loans and technology for auto lending, including auto retail and refinancing. Upstart was founded in 2012 by Dave Girouard, Paul Gu and Anna Counselman. Girouard serves as the company’s chief executive officer.