Cerity Partners LLC bought a new position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 123,292 shares of the company's stock, valued at approximately $1,288,000. Cerity Partners LLC owned approximately 0.09% of Upwork as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. Plato Investment Management Ltd purchased a new stake in shares of Upwork in the second quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Upwork during the second quarter worth about $29,000. Quarry LP lifted its position in shares of Upwork by 104.2% during the second quarter. Quarry LP now owns 4,350 shares of the company's stock worth $47,000 after purchasing an additional 2,220 shares in the last quarter. KBC Group NV raised its holdings in Upwork by 45.4% in the third quarter. KBC Group NV now owns 4,791 shares of the company's stock valued at $50,000 after acquiring an additional 1,497 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Upwork in the second quarter valued at approximately $54,000. Hedge funds and other institutional investors own 77.71% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on UPWK shares. Royal Bank of Canada dropped their price target on shares of Upwork from $15.00 to $11.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 8th. BTIG Research raised their target price on Upwork from $14.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Citigroup lifted their price target on Upwork from $11.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, November 29th. The Goldman Sachs Group lifted their price target on Upwork from $21.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, Roth Mkm boosted their target price on shares of Upwork from $13.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Upwork currently has a consensus rating of "Moderate Buy" and an average price target of $18.36.
View Our Latest Stock Report on UPWK
Insider Transactions at Upwork
In related news, CFO Erica Gessert sold 4,491 shares of the firm's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $10.57, for a total value of $47,469.87. Following the completion of the sale, the chief financial officer now owns 111,255 shares of the company's stock, valued at $1,175,965.35. This trade represents a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Dave Bottoms sold 5,626 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $10.57, for a total transaction of $59,466.82. Following the completion of the transaction, the vice president now owns 15,196 shares in the company, valued at $160,621.72. This represents a 27.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 214,808 shares of company stock valued at $2,756,163. 7.60% of the stock is owned by corporate insiders.
Upwork Stock Up 0.3 %
Shares of Upwork stock traded up $0.06 during trading on Wednesday, hitting $17.45. 2,179,910 shares of the stock traded hands, compared to its average volume of 2,187,988. The stock has a market cap of $2.33 billion, a P/E ratio of 27.70 and a beta of 1.58. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.18 and a current ratio of 3.18. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $17.79. The company has a fifty day moving average price of $13.20 and a two-hundred day moving average price of $11.46.
Upwork (NASDAQ:UPWK - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. The business had revenue of $193.78 million for the quarter, compared to the consensus estimate of $185.55 million. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The firm's revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $0.12 EPS. Equities research analysts predict that Upwork Inc. will post 0.65 EPS for the current fiscal year.
Upwork Profile
(
Free Report)
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.
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