Upwork Inc. (NASDAQ:UPWK) Stake Boosted by Jump Financial LLC

Jump Financial LLC increased its position in Upwork Inc. (NASDAQ:UPWK - Free Report) by 82.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,802 shares of the company's stock after buying an additional 57,225 shares during the quarter. Jump Financial LLC owned 0.09% of Upwork worth $2,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Grandeur Peak Global Advisors LLC purchased a new stake in Upwork in the fourth quarter worth approximately $3,665,000. Quinn Opportunity Partners LLC bought a new stake in Upwork during the 4th quarter valued at $245,000. LSV Asset Management purchased a new position in shares of Upwork in the 4th quarter valued at $18,838,000. Raymond James Financial Inc. purchased a new position in Upwork during the 4th quarter worth $812,000. Finally, Straightline Group LLC purchased a new position in Upwork during the 4th quarter worth $534,000. Institutional investors own 77.71% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on UPWK shares. Royal Bank of Canada boosted their price objective on Upwork from $16.00 to $18.00 and gave the company a "sector perform" rating in a report on Thursday, February 13th. Needham & Company LLC lifted their target price on Upwork from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Roth Mkm lowered their price objective on Upwork from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Scotiabank assumed coverage on shares of Upwork in a research note on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price objective on the stock. Finally, BTIG Research downgraded shares of Upwork from a "buy" rating to a "neutral" rating in a report on Friday, April 4th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Upwork currently has an average rating of "Moderate Buy" and a consensus price target of $18.58.

Upwork Stock Performance

Shares of NASDAQ:UPWK traded up $0.32 on Thursday, hitting $13.48. The company had a trading volume of 270,446 shares, compared to its average volume of 2,235,160. The stock has a 50 day moving average price of $13.76 and a 200 day moving average price of $14.71. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 8.80 and a beta of 1.60. 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 1-year low of $8.43 and a 1-year high of $18.14.

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

Insider Activity

In related news, CEO Hayden Brown sold 21,122 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value of $341,120.30. Following the completion of the transaction, the chief executive officer now directly owns 1,275,083 shares of the company's stock, valued at approximately $20,592,590.45. This trade represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $222,304.75. Following the transaction, the chief financial officer now directly owns 156,828 shares in the company, valued at $2,532,772.20. This trade represents a 8.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 193,108 shares of company stock valued at $3,046,648. Insiders own 7.60% of the company's stock.

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.