Franklin Resources Inc. Has $3.87 Million Stock Holdings in Upwork Inc. (NASDAQ:UPWK)

Franklin Resources Inc. reduced its holdings in Upwork Inc. (NASDAQ:UPWK - Free Report) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 236,667 shares of the company's stock after selling 21,573 shares during the quarter. Franklin Resources Inc. owned approximately 0.18% of Upwork worth $3,870,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. KBC Group NV lifted its holdings in shares of Upwork by 39.6% during the 4th quarter. KBC Group NV now owns 6,690 shares of the company's stock worth $109,000 after acquiring an additional 1,899 shares during the period. Rhumbline Advisers raised its stake in Upwork by 1.4% during the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company's stock worth $2,914,000 after purchasing an additional 2,387 shares during the period. King Luther Capital Management Corp raised its stake in Upwork by 1.0% during the fourth quarter. King Luther Capital Management Corp now owns 263,802 shares of the company's stock worth $4,313,000 after purchasing an additional 2,636 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in shares of Upwork by 0.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 349,800 shares of the company's stock valued at $5,719,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Stoneridge Investment Partners LLC grew its stake in shares of Upwork by 19.9% during the 4th quarter. Stoneridge Investment Partners LLC now owns 16,566 shares of the company's stock valued at $271,000 after buying an additional 2,744 shares during the period. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on UPWK shares. UBS Group boosted their price target on Upwork from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Needham & Company LLC boosted their target price on Upwork from $17.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Roth Mkm cut their price target on shares of Upwork from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Royal Bank of Canada boosted their price objective on shares of Upwork from $16.00 to $18.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group cut their target price on shares of Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Upwork has a consensus rating of "Moderate Buy" and an average price target of $18.58.

Insider Activity

In other Upwork news, insider Dave Bottoms sold 5,411 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total value of $70,721.77. Following the completion of the transaction, the insider now owns 9,593 shares in the company, valued at approximately $125,380.51. This represents a 36.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth A. Nelson sold 75,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $17.58, for a total value 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. The trade was a 82.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, 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 2.6 %

Shares of NASDAQ:UPWK traded down $0.33 during midday trading on Wednesday, reaching $12.47. The company had a trading volume of 2,626,620 shares, compared to its average volume of 2,372,093. The stock's fifty day moving average price is $14.13 and its 200-day moving average price is $14.65. The stock has a market capitalization of $1.69 billion, a P/E ratio of 8.15 and a beta of 1.60. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39.

Upwork (NASDAQ:UPWK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, topping 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%. Equities research analysts expect that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

About Upwork

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.