GAMMA Investing LLC Sells 1,080 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

GAMMA Investing LLC lowered its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 49.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,124 shares of the company’s stock after selling 1,080 shares during the quarter. GAMMA Investing LLC’s holdings in Upstart were worth $45,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Magnetar Financial LLC increased its stake in shares of Upstart by 1,106.7% in the 1st quarter. Magnetar Financial LLC now owns 97,281 shares of the company’s stock valued at $2,616,000 after acquiring an additional 89,219 shares in the last quarter. Vanguard Group Inc. grew its position in Upstart by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 7,013,918 shares of the company’s stock valued at $286,589,000 after purchasing an additional 157,719 shares during the period. Baader Bank Aktiengesellschaft grew its position in Upstart by 273.8% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 41,115 shares of the company’s stock valued at $969,000 after purchasing an additional 30,115 shares during the period. Entropy Technologies LP acquired a new stake in Upstart in the 1st quarter valued at $1,358,000. Finally, ProShare Advisors LLC grew its position in Upstart by 10.1% in the 1st quarter. ProShare Advisors LLC now owns 13,342 shares of the company’s stock valued at $359,000 after purchasing an additional 1,219 shares during the period. Institutional investors own 63.01% of the company’s stock.

Insider Buying and Selling

In related news, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $28.15, for a total value of $28,150.00. Following the transaction, the chief financial officer now directly owns 373,398 shares of the company’s stock, valued at approximately $10,511,153.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $28.15, for a total value of $28,150.00. Following the sale, the chief financial officer now directly owns 373,398 shares in the company, valued at approximately $10,511,153.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scott Darling sold 84,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $50.02, for a total value of $4,201,680.00. Following the completion of the sale, the insider now owns 152,043 shares in the company, valued at $7,605,190.86. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 312,959 shares of company stock valued at $13,641,350. 18.06% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wedbush raised shares of Upstart from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $10.00 to $45.00 in a research report on Monday. Needham & Company LLC reissued a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Barclays lifted their price target on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Citigroup raised shares of Upstart from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $15.00 to $33.00 in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Upstart from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.50.

Upstart Stock Performance

Shares of NASDAQ:UPST opened at $52.05 on Friday. The company’s 50-day moving average is $40.29 and its 200 day moving average is $30.19. The company has a market capitalization of $4.66 billion, a P/E ratio of -22.24 and a beta of 2.01. Upstart Holdings, Inc. has a fifty-two week low of $19.84 and a fifty-two week high of $57.40.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.22. The company had revenue of $127.63 million for the quarter, compared to the consensus estimate of $124.55 million. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.34) EPS. As a group, research analysts predict that Upstart Holdings, Inc. will post -2.39 earnings per share for the current year.

Upstart Company 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.