Landscape Capital Management L.L.C. Takes $2.22 Million Position in Upwork Inc. (NASDAQ:UPWK)

Landscape Capital Management L.L.C. bought a new position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 135,898 shares of the company's stock, valued at approximately $2,222,000. Landscape Capital Management L.L.C. owned about 0.10% of Upwork at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Quarry LP raised its holdings in Upwork by 42.6% in the 3rd quarter. Quarry LP now owns 6,201 shares of the company's stock valued at $65,000 after buying an additional 1,851 shares during the period. KBC Group NV boosted its position in shares of Upwork by 39.6% during the fourth quarter. KBC Group NV now owns 6,690 shares of the company's stock worth $109,000 after buying an additional 1,899 shares during the period. Rhumbline Advisers grew its stake in shares of Upwork by 1.4% in the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company's stock valued at $2,914,000 after buying an additional 2,387 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of Upwork by 1.0% in the 4th quarter. King Luther Capital Management Corp now owns 263,802 shares of the company's stock valued at $4,313,000 after buying an additional 2,636 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its stake in Upwork by 0.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 349,800 shares of the company's stock worth $5,719,000 after acquiring an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 77.71% of the company's stock.

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Upwork Stock Performance

Shares of UPWK traded down $0.65 during midday trading on Thursday, reaching $12.55. 612,923 shares of the stock were exchanged, compared to its average volume of 2,238,293. The business's 50-day moving average price is $14.35 and its 200 day moving average price is $14.58. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 8.21 and a beta of 1.60. Upwork Inc. has a twelve month low of $8.43 and a twelve month 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 released its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (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%. On average, sell-side analysts expect that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Scotiabank began coverage on shares of Upwork in a research note on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 target price on the stock. BTIG Research downgraded Upwork from a "buy" rating to a "neutral" rating in a research report on Friday, April 4th. 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. Royal Bank of Canada lifted their price target 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, Roth Mkm dropped their price objective on shares of Upwork from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.58.

Insider Buying and Selling

In other Upwork news, CFO Erica Gessert sold 4,316 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total value of $56,410.12. Following the completion of the transaction, the chief financial officer now owns 160,945 shares in the company, valued at approximately $2,103,551.15. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dave Bottoms sold 5,411 shares of the business's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total transaction of $70,721.77. Following the sale, the insider now owns 9,593 shares in the company, valued at $125,380.51. The trade was a 36.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 193,365 shares of company stock valued at $3,050,760 over the last three months. 7.60% of the stock is currently owned by company insiders.

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.