Globeflex Capital L P Has $3.88 Million Stock Holdings in Upwork Inc. (NASDAQ:UPWK)

Globeflex Capital L P increased its position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 237,562 shares of the company's stock after buying an additional 24,205 shares during the quarter. Globeflex Capital L P owned 0.18% of Upwork worth $3,884,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Verition Fund Management LLC bought a new position in Upwork in the third quarter valued at $8,369,000. Point72 Asset Management L.P. increased its position in shares of Upwork by 2,216.8% in the third quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company's stock valued at $5,263,000 after acquiring an additional 481,942 shares during the last quarter. Invenomic Capital Management LP raised its holdings in Upwork by 12.5% during the third quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company's stock worth $24,397,000 after acquiring an additional 260,274 shares in the last quarter. Stifel Financial Corp raised its holdings in Upwork by 228.0% during the third quarter. Stifel Financial Corp now owns 211,569 shares of the company's stock worth $2,211,000 after acquiring an additional 147,059 shares in the last quarter. Finally, Cerity Partners LLC acquired a new position in Upwork during the third quarter valued at approximately $1,288,000. Institutional investors and hedge funds own 77.71% of the company's stock.

Insiders Place Their Bets

In related news, CEO Hayden Brown sold 60,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $14.20, for a total transaction of $852,000.00. Following the sale, the chief executive officer now owns 1,215,083 shares of the company's stock, valued at $17,254,178.60. This represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Erica Gessert sold 13,765 shares of Upwork stock in a transaction on 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 transaction, the chief financial officer now directly owns 156,828 shares of the company's stock, valued at $2,532,772.20. This represents a 8.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 173,103 shares of company stock worth $2,785,935 in the last quarter. Corporate insiders own 7.60% of the company's stock.

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Upwork Stock Performance

UPWK traded up $0.21 during trading on Wednesday, hitting $13.42. The stock had a trading volume of 1,392,552 shares, compared to its average volume of 2,216,987. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. The company has a 50 day moving average price of $15.53 and a 200-day moving average price of $14.25. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 8.77 and a beta of 1.61.

Upwork (NASDAQ:UPWK - Get Free Report) last announced its earnings results 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 net margin of 28.02% and a return on equity of 50.83%. As a group, research analysts predict that Upwork Inc. will post 0.84 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. 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 note 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 for the company in a research note on Thursday, February 13th. Scotiabank began coverage on shares of Upwork in a research report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price objective for the company. Citigroup upped their target price on shares of Upwork from $11.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, November 29th. Finally, Jefferies Financial Group lifted 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. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Upwork presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.58.

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.