Upstart Holdings, Inc. (NASDAQ:UPST) Shares Sold by Shelton Capital Management

Shelton Capital Management cut its holdings in Upstart Holdings, Inc. (NASDAQ:UPST) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,000 shares of the company’s stock after selling 2,000 shares during the quarter. Shelton Capital Management’s holdings in Upstart were worth $1,108,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Invesco Ltd. boosted its stake in shares of Upstart by 886.0% during the fourth quarter. Invesco Ltd. now owns 709,684 shares of the company’s stock valued at $43,695,000 after acquiring an additional 637,706 shares during the last quarter. Norges Bank acquired a new position in Upstart in the 4th quarter valued at $25,158,000. Vanguard Group Inc. lifted its stake in shares of Upstart by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company’s stock worth $479,843,000 after purchasing an additional 369,640 shares during the period. Tidal Investments LLC boosted its holdings in shares of Upstart by 1,413.7% during the third quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock worth $13,342,000 after purchasing an additional 311,434 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in Upstart during the fourth quarter worth about $14,278,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Upstart Trading Up 20.2 %

UPST stock opened at $43.14 on Thursday. The stock’s 50 day simple moving average is $58.19 and its 200 day simple moving average is $60.38. Upstart Holdings, Inc. has a 12-month low of $20.60 and a 12-month high of $96.43. The firm has a market cap of $4.04 billion, a P/E ratio of -29.55 and a beta of 2.39.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. On average, research analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on UPST. JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $57.00 to $79.00 in a research note on Wednesday, February 12th. Citigroup boosted their price objective on shares of Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. B. Riley raised Upstart from a “neutral” rating to a “buy” rating and increased their target price for the stock from $49.00 to $105.00 in a research report on Wednesday, February 12th. Morgan Stanley upgraded Upstart from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $12.00 to $70.00 in a report on Friday, February 14th. Finally, Needham & Company LLC boosted their target price on Upstart from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.38.

Insider Buying and Selling at Upstart

In other Upstart news, insider Natalia Mirgorodskaya sold 794 shares of Upstart stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $62,741.88. Following the sale, the insider now owns 21,985 shares of the company’s stock, valued at $1,737,254.70. The trade was a 3.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dave Girouard sold 4,524 shares of Upstart stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.01, for a total transaction of $357,441.24. Following the sale, the chief executive officer now owns 52,614 shares in the company, valued at approximately $4,157,032.14. This represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,062 shares of company stock worth $5,247,182. 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.