Upwork Inc. (NASDAQ:UPWK) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 39.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,181 shares of the company's stock after selling 41,687 shares during the period. Los Angeles Capital Management LLC's holdings in Upwork were worth $1,066,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning purchased a new position in Upwork during the 3rd quarter worth approximately $207,000. Janney Montgomery Scott LLC acquired a new position in Upwork in the third quarter valued at $858,000. Harbor Capital Advisors Inc. increased its stake in Upwork by 10.7% in the third quarter. Harbor Capital Advisors Inc. now owns 65,490 shares of the company's stock valued at $684,000 after purchasing an additional 6,318 shares during the period. Olympiad Research LP purchased a new stake in shares of Upwork in the third quarter valued at about $208,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in shares of Upwork during the third quarter worth about $266,000. Institutional investors and hedge funds own 77.71% of the company's stock.

Upwork Price Performance

Upwork stock traded up $0.30 during mid-day trading on Wednesday, reaching $14.93. The company had a trading volume of 1,481,642 shares, compared to its average volume of 2,619,122. The stock's 50-day simple moving average is $16.12 and its 200-day simple moving average is $13.98. Upwork Inc. has a 1 year low of $8.43 and a 1 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. The company has a market capitalization of $2.02 billion, a P/E ratio of 9.76 and a beta of 1.57.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on UPWK. JMP Securities reaffirmed a "market outperform" rating and set a $18.00 price objective on shares of Upwork in a research note on Thursday, January 30th. Roth Mkm lowered 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. Needham & Company LLC upped their price objective on shares of Upwork from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Jefferies Financial Group lifted their target price on shares of Upwork from $19.00 to $20.00 and gave the company a "buy" rating in a report on Monday, January 6th. Finally, Canaccord Genuity Group increased their price target on shares of Upwork from $15.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.91.

Insider Transactions at Upwork

In other news, VP Dave Bottoms sold 5,360 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $17.11, for a total value of $91,709.60. Following the sale, the vice president now directly owns 9,642 shares in the company, valued at $164,974.62. This represents a 35.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elizabeth A. Nelson sold 75,000 shares of Upwork stock in a transaction that occurred 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 transaction, the director now owns 16,299 shares of the company's stock, valued at $286,536.42. This represents a 82.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,187 shares of company stock valued at $3,917,213 in the last 90 days. 7.60% of the stock is currently owned by 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.