Counterpoint Mutual Funds LLC Buys Shares of 27,915 Upwork Inc. (NASDAQ:UPWK)

Counterpoint Mutual Funds LLC purchased a new position in Upwork Inc. (NASDAQ:UPWK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 27,915 shares of the company's stock, valued at approximately $456,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Verition Fund Management LLC acquired a new position in Upwork in the 3rd quarter valued at about $8,369,000. Point72 Asset Management L.P. grew its holdings in shares of Upwork by 2,216.8% during the third quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company's stock worth $5,263,000 after buying an additional 481,942 shares in the last quarter. Invenomic Capital Management LP raised its position in shares of Upwork by 12.5% in the third quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company's stock valued at $24,397,000 after buying an additional 260,274 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of Upwork by 659.9% in the fourth quarter. Corient Private Wealth LLC now owns 172,582 shares of the company's stock valued at $2,822,000 after buying an additional 149,871 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Upwork by 228.0% during the third quarter. Stifel Financial Corp now owns 211,569 shares of the company's stock valued at $2,211,000 after buying an additional 147,059 shares during the period. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on UPWK. Royal Bank of Canada boosted their price target on Upwork from $16.00 to $18.00 and gave the company a "sector perform" rating in a report on Thursday, February 13th. Citigroup lifted their price target on Upwork from $11.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, November 29th. Scotiabank initiated coverage on shares of Upwork in a research report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 target price on the stock. Needham & Company LLC increased their price target on shares of Upwork from $17.00 to $19.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, Roth Mkm lowered their price objective on shares of Upwork from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.58.

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Insider Activity

In other Upwork news, CFO Erica Gessert sold 13,765 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value of $222,304.75. Following the completion of the sale, the chief financial officer now owns 156,828 shares in the company, valued at approximately $2,532,772.20. This trade represents a 8.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Elizabeth A. Nelson sold 75,000 shares of the business'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 transaction, the director now directly owns 16,299 shares of the company's stock, valued at approximately $286,536.42. This represents a 82.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 193,365 shares of company stock worth $3,050,760. 7.60% of the stock is owned by corporate insiders.

Upwork Trading Up 0.9 %

Shares of Upwork stock traded up $0.12 on Friday, reaching $13.57. 2,789,710 shares of the company were exchanged, compared to its average volume of 2,540,229. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14. The stock has a fifty day moving average price of $15.43 and a 200-day moving average price of $14.24. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 8.87 and a beta of 1.61.

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

Upwork 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.