Connor Clark & Lunn Investment Management Ltd. Has $28.03 Million Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Upstart Holdings, Inc. (NASDAQ:UPST) by 37.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 455,168 shares of the company’s stock after selling 270,414 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Upstart were worth $28,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Rakuten Securities Inc. acquired a new position in shares of Upstart in the 4th quarter valued at approximately $31,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Upstart in the third quarter valued at approximately $35,000. BNP Paribas bought a new position in Upstart in the third quarter valued at approximately $37,000. Prospera Private Wealth LLC bought a new stake in shares of Upstart during the third quarter worth $47,000. Finally, Farther Finance Advisors LLC increased its holdings in Upstart by 24.2% during the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock worth $54,000 after purchasing an additional 172 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wedbush boosted their price objective on shares of Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Needham & Company LLC boosted their price target on shares of Upstart from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group increased their price objective on shares of Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a research note on Wednesday, February 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 target price (up previously from $85.00) on shares of Upstart in a research report on Wednesday, February 12th. Finally, Barclays increased their price target on Upstart from $80.00 to $93.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.38.

Insider Buying and Selling at Upstart

In other news, CEO Dave Girouard sold 4,524 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 52,614 shares of the company’s stock, valued at $4,157,032.14. The trade was a 7.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sanjay Datta sold 16,070 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the completion of the sale, the chief financial officer now owns 295,537 shares in the company, valued at $23,353,333.74. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,062 shares of company stock valued at $5,247,182. Corporate insiders own 18.06% of the company’s stock.

Upstart Price Performance

Shares of UPST stock opened at $49.66 on Thursday. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $96.43. The business’s 50 day simple moving average is $65.68 and its 200 day simple moving average is $59.37. The stock has a market capitalization of $4.65 billion, a PE ratio of -34.01 and a beta of 2.25.

Upstart (NASDAQ:UPST) last announced 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 return on equity of 25.87% and a negative net margin of 20.20%. As a group, research analysts expect that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

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.