Manchester Capital Management LLC Sells 299 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Manchester Capital Management LLC decreased its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,392 shares of the company’s stock after selling 299 shares during the period. Manchester Capital Management LLC’s holdings in Upstart were worth $2,672,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rhumbline Advisers raised its position in shares of Upstart by 3.6% in the 4th quarter. Rhumbline Advisers now owns 112,147 shares of the company’s stock worth $6,905,000 after acquiring an additional 3,922 shares in the last quarter. Blue Trust Inc. raised its position in shares of Upstart by 49.1% in the 4th quarter. Blue Trust Inc. now owns 1,475 shares of the company’s stock worth $91,000 after acquiring an additional 486 shares in the last quarter. Vontobel Holding Ltd. bought a new position in shares of Upstart in the 4th quarter worth approximately $234,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Upstart in the 4th quarter worth approximately $235,000. Finally, Bristlecone Advisors LLC raised its position in shares of Upstart by 125.0% in the 4th quarter. Bristlecone Advisors LLC now owns 14,520 shares of the company’s stock worth $894,000 after acquiring an additional 8,066 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

Upstart Stock Performance

UPST stock opened at $82.42 on Friday. Upstart Holdings, Inc. has a 1 year low of $20.60 and a 1 year high of $96.43. The stock’s fifty day moving average price is $68.10 and its 200-day moving average price is $55.22.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative return on equity of 32.57% and a negative net margin of 30.15%. On average, sell-side analysts expect that Upstart Holdings, Inc. will post -2.18 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on UPST. BTIG Research raised Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Piper Sandler reaffirmed an “overweight” rating and set a $105.00 price objective (up previously from $85.00) on shares of Upstart in a research report on Wednesday. Redburn Atlantic raised Upstart from a “neutral” rating to a “buy” rating and raised their price objective for the company from $37.00 to $95.00 in a research report on Tuesday, December 3rd. The Goldman Sachs Group raised their price objective on Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a research report on Wednesday. Finally, Wedbush raised their price objective on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Upstart currently has an average rating of “Hold” and an average price target of $68.92.

Insider Activity at Upstart

In other Upstart news, CEO Dave Girouard sold 4,374 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $69.79, for a total transaction of $305,261.46. Following the sale, the chief executive officer now directly owns 57,138 shares of the company’s stock, valued at $3,987,661.02. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Natalia Mirgorodskaya sold 1,411 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $77.36, for a total value of $109,154.96. Following the sale, the insider now directly owns 18,596 shares in the company, valued at approximately $1,438,586.56. This represents a 7.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 241,201 shares of company stock worth $17,003,724. Corporate insiders own 18.06% of the company’s stock.

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.