Upland Software, Inc. (NASDAQ:UPLD) Shares Sold by Whetstone Capital Advisors LLC

Whetstone Capital Advisors LLC lowered its holdings in Upland Software, Inc. (NASDAQ:UPLD) by 39.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 303,245 shares of the software maker’s stock after selling 201,192 shares during the quarter. Upland Software accounts for about 3.0% of Whetstone Capital Advisors LLC’s holdings, making the stock its 14th biggest position. Whetstone Capital Advisors LLC owned about 1.01% of Upland Software worth $14,310,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Upland Software by 1.7% in the first quarter. BlackRock Inc. now owns 1,851,254 shares of the software maker’s stock valued at $87,360,000 after acquiring an additional 30,333 shares during the period. Wasatch Advisors Inc. lifted its holdings in Upland Software by 32.2% in the first quarter. Wasatch Advisors Inc. now owns 1,420,590 shares of the software maker’s stock valued at $67,038,000 after acquiring an additional 345,778 shares during the period. Oak Ridge Investments LLC lifted its holdings in Upland Software by 716.5% in the first quarter. Oak Ridge Investments LLC now owns 1,261,938 shares of the software maker’s stock valued at $59,551,000 after acquiring an additional 1,107,385 shares during the period. Royce & Associates LP lifted its holdings in Upland Software by 10.8% in the first quarter. Royce & Associates LP now owns 1,220,945 shares of the software maker’s stock valued at $57,616,000 after acquiring an additional 118,830 shares during the period. Finally, Channing Capital Management LLC acquired a new stake in Upland Software in the fourth quarter valued at $37,647,000. 76.35% of the stock is owned by institutional investors.

In related news, CFO Michael Douglass Hill sold 7,236 shares of the business’s stock in a transaction that occurred on Wednesday, March 17th. The stock was sold at an average price of $48.34, for a total transaction of $349,788.24. Following the transaction, the chief financial officer now directly owns 268,685 shares of the company’s stock, valued at approximately $12,988,232.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Rodney C. Favaron sold 28,989 shares of the business’s stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $50.00, for a total value of $1,449,450.00. Following the transaction, the president now directly owns 277,375 shares in the company, valued at $13,868,750. The disclosure for this sale can be found here. Insiders have sold a total of 57,038 shares of company stock worth $2,805,665 over the last three months. 10.60% of the stock is currently owned by corporate insiders.

A number of research firms recently commented on UPLD. Zacks Investment Research cut Upland Software from a “buy” rating to a “hold” rating in a research report on Wednesday, May 5th. Credit Suisse Group restated an “outperform” rating and issued a $58.00 price target on shares of Upland Software in a report on Monday, March 29th. Jefferies Financial Group lowered their price target on Upland Software from $58.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, May 18th. They noted that the move was a valuation call. Truist lifted their price target on Upland Software from $60.00 to $65.00 in a report on Wednesday, March 3rd. Finally, Craig Hallum lifted their price target on Upland Software from $29.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, February 25th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $57.25.

Shares of NASDAQ UPLD traded down $0.14 during midday trading on Friday, hitting $41.86. The stock had a trading volume of 6,529 shares, compared to its average volume of 230,790. The company has a market cap of $1.26 billion, a P/E ratio of -22.46, a price-to-earnings-growth ratio of 10.64 and a beta of 0.92. Upland Software, Inc. has a 1-year low of $30.40 and a 1-year high of $53.00. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.63. The business has a fifty day moving average of $44.57.

Upland Software (NASDAQ:UPLD) last released its quarterly earnings data on Wednesday, May 5th. The software maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.52. The business had revenue of $73.97 million for the quarter, compared to analyst estimates of $73.17 million. Upland Software had a positive return on equity of 7.84% and a negative net margin of 17.41%. On average, sell-side analysts anticipate that Upland Software, Inc. will post 0.38 earnings per share for the current fiscal year.

About Upland Software

Upland Software, Inc provides cloud-based enterprise work management software in the United States, the United Kingdom, Canada, and internationally. It offers a family of software applications under the Upland brand in the areas of marketing, sales, contact center, project management, information technology, business operations, and human resources and legal.

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Institutional Ownership by Quarter for Upland Software (NASDAQ:UPLD)

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