5 Stocks Billionaire Dan Loeb is Selling in 2022

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In this article, we discuss 5 stocks billionaire Dan Loeb is selling in 2022. If you want to see more stocks that the billionaire dumped, click 10 Stocks Billionaire Dan Loeb is Selling in 2022.

5. Upstart Holdings, Inc. (NASDAQ:UPST)

Number of Hedge Fund Holders: 25

Upstart Holdings, Inc. (NASDAQ:UPST) was founded in 2012 and is headquartered in San Mateo, California. The company operates a cloud-based artificial intelligence lending platform in the United States. Dan Loeb added Upstart Holdings, Inc. (NASDAQ:UPST) to his portfolio in the last quarter of 2020. The billionaire held 4 million Upstart Holdings, Inc. (NASDAQ:UPST) shares in Q4 2021, worth $605.2 million. He sold off the shares completely in the first quarter of 2022. 

On May 20, Wedbush analyst David Chiaverini lowered the price target on Upstart Holdings, Inc. (NASDAQ:UPST) to $15 from $20 and kept an Underperform rating on the shares. The analyst’s Underperform rating on the stock is based on weakening delinquency and loss trends on recent 2021 vintage securitizations that appear to be deteriorating significantly. 

In Q1 2022, 25 hedge funds were bullish on Upstart Holdings, Inc. (NASDAQ:UPST), up from 20 funds in the earlier quarter. Vikram Kumar’s Kuvari Partners held a significant position in the company, with 296,738 shares worth $32.3 million. 

Here is what Vulcan Value Partners has to say about Upstart Holdings, Inc. (NASDAQ:UPST) in its Q1 2022 investor letter:

“Upstart Holdings Inc. is an artificial intelligence (AI) and cloud-based lending platform. Upstart’s stock price has been very volatile, but its value has grown steadily. Last year, the company grew its revenue by over 250% organically, which materially exceeded our expectations. In addition, the company continues to generate robust free cash flow and is launching new products to expand its business. Upstart’s value has increased consistently since we first purchased it. Following our discipline, we have added to our position when its stock price has declined and its price to value ratio has improved, and we have reduced our stake when its stock price has risen faster than its value.”

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