Entropy Technologies LP Cuts Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Entropy Technologies LP decreased its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 83.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,617 shares of the company’s stock after selling 23,157 shares during the quarter. Entropy Technologies LP’s holdings in Upstart were worth $284,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of UPST. Fred Alger Management LLC boosted its holdings 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 worth $49,886,000 after purchasing an additional 754,416 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of Upstart by 689.5% in the 3rd quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock worth $23,566,000 after purchasing an additional 514,400 shares during the period. Tidal Investments LLC boosted its holdings in shares of Upstart by 1,413.7% in the 3rd 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 period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of 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. Finally, International Assets Investment Management LLC boosted its holdings in shares of Upstart by 4,087.8% in the 3rd quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock worth $9,333,000 after purchasing an additional 227,688 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on UPST shares. Piper Sandler reiterated an “overweight” rating and issued a $105.00 target price (up previously from $85.00) on shares of Upstart in a report on Wednesday. Wedbush lifted their target price on Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Citigroup upped their price target on shares of Upstart from $87.00 to $108.00 and gave the stock a “neutral” rating in a report on Thursday. Needham & Company LLC lifted their price objective on shares of Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Redburn Atlantic raised shares of Upstart from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Upstart currently has a consensus rating of “Hold” and an average target price of $68.83.

Insider Activity

In other Upstart news, CFO Sanjay Datta sold 18,619 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $69.82, for a total value of $1,299,978.58. Following the completion of the sale, the chief financial officer now directly owns 310,974 shares in the company, valued at $21,712,204.68. This trade represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Natalia Mirgorodskaya sold 1,511 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $69.85, for a total transaction of $105,543.35. Following the completion of the sale, the insider now owns 20,007 shares of the company’s stock, valued at approximately $1,397,488.95. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 241,201 shares of company stock worth $17,003,724. Corporate insiders own 18.06% of the company’s stock.

Upstart Stock Performance

NASDAQ UPST opened at $84.16 on Friday. The firm’s 50 day moving average price is $67.99 and its 200-day moving average price is $54.82. Upstart Holdings, Inc. has a 52-week low of $20.60 and a 52-week high of $96.43. The company has a market cap of $7.68 billion, a PE ratio of -43.61 and a beta of 2.25.

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

About Upstart

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.