Corient Private Wealth LLC boosted its stake in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 659.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,582 shares of the company's stock after buying an additional 149,871 shares during the quarter. Corient Private Wealth LLC owned 0.13% of Upwork worth $2,822,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in UPWK. KBC Group NV lifted its stake in Upwork by 45.4% during the 3rd quarter. KBC Group NV now owns 4,791 shares of the company's stock worth $50,000 after acquiring an additional 1,497 shares in the last quarter. Quarry LP increased its stake in Upwork by 42.6% during the third quarter. Quarry LP now owns 6,201 shares of the company's stock worth $65,000 after purchasing an additional 1,851 shares during the period. Nkcfo LLC acquired a new stake in shares of Upwork during the fourth quarter worth about $82,000. SBI Securities Co. Ltd. purchased a new position in shares of Upwork in the fourth quarter valued at approximately $84,000. Finally, Financial Management Professionals Inc. acquired a new position in shares of Upwork in the fourth quarter valued at approximately $97,000. 77.71% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Upwork
In related news, CFO Erica Gessert sold 4,316 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total value of $56,410.12. Following the transaction, the chief financial officer now directly owns 160,945 shares of the company's stock, valued at $2,103,551.15. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Dave Bottoms sold 5,411 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were 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 approximately $125,380.51. This trade represents a 36.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 193,365 shares of company stock worth $3,050,760. 7.60% of the stock is currently owned by insiders.
Upwork Stock Down 0.5 %
NASDAQ UPWK traded down $0.07 during trading on Thursday, reaching $13.66. 1,269,949 shares of the company's stock were exchanged, compared to its average volume of 2,203,046. The company has a 50 day moving average price of $15.24 and a two-hundred day moving average price of $14.39. The stock has a market cap of $1.85 billion, a P/E ratio of 8.93 and a beta of 1.61. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39.
Upwork (NASDAQ:UPWK - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, topping 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%. On average, equities research analysts anticipate that Upwork Inc. will post 0.84 EPS for the current fiscal year.
Wall Street Analyst Weigh In
UPWK has been the topic of a number of research reports. Royal Bank of Canada increased their target price on shares of Upwork from $16.00 to $18.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. Needham & Company LLC upped their price objective on Upwork from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Citigroup lifted their target price on Upwork from $11.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, November 29th. Jefferies Financial Group upped their price target on Upwork from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, Scotiabank initiated coverage on Upwork in a research report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.58.
Read Our Latest Stock Report on Upwork
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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