Capital International Investors Trims Holdings in Upwork Inc. (NASDAQ:UPWK)

Capital International Investors reduced its stake in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 12.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,906,124 shares of the company's stock after selling 427,250 shares during the quarter. Capital International Investors owned about 2.17% of Upwork worth $47,515,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of UPWK. Nkcfo LLC acquired a new stake in Upwork during the 4th quarter worth $82,000. SBI Securities Co. Ltd. purchased a new stake in shares of Upwork in the fourth quarter valued at about $84,000. Financial Management Professionals Inc. acquired a new stake in shares of Upwork during the fourth quarter worth about $97,000. KBC Group NV grew its holdings in shares of Upwork by 39.6% during the fourth quarter. KBC Group NV now owns 6,690 shares of the company's stock worth $109,000 after buying an additional 1,899 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in Upwork in the 4th quarter valued at about $191,000. 77.71% of the stock is owned by hedge funds and other institutional investors.

Upwork Price Performance

NASDAQ UPWK traded down $0.02 during mid-day trading on Friday, hitting $13.54. The stock had a trading volume of 1,119,132 shares, compared to its average volume of 2,284,179. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 8.85 and a beta of 1.60. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14. The company has a 50 day simple moving average of $13.71 and a 200 day simple moving average of $14.73. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62.

Upwork (NASDAQ:UPWK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. Equities analysts forecast that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Jefferies Financial Group lowered their target price on Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. BTIG Research cut shares of Upwork from a "buy" rating to a "neutral" rating in a research note on Friday, April 4th. Scotiabank began coverage on shares of Upwork in a research report on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 price objective for the company. Needham & Company LLC lifted their target price on shares of Upwork from $17.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Roth Mkm cut their price target on shares of Upwork from $20.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Upwork presently has an average rating of "Moderate Buy" and a consensus price target of $18.58.

Insider Transactions at Upwork

In other Upwork news, Director Elizabeth A. Nelson sold 75,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $17.58, for a total transaction of $1,318,500.00. Following the completion of the sale, the director now directly owns 16,299 shares in the company, valued at $286,536.42. This represents a 82.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Dave Bottoms sold 5,411 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total transaction of $70,721.77. Following the completion of the sale, the insider now directly owns 9,593 shares of the company's stock, valued at $125,380.51. The trade was a 36.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 193,108 shares of company stock worth $3,046,648 over the last quarter. 7.60% of the stock is currently owned by insiders.

Upwork Company Profile

Upwork Inc, together with its subsidiaries, operates a work marketplace that connects businesses with various independent professionals and agencies in the United States, India, the Philippines, and internationally. The company's work marketplace provides access to talent with various skills across a range of categories, including administrative support, sales and marketing, design and creative, and customer service, as well as web, mobile, and software development.