Upwork Inc. (NASDAQ:UPWK) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,226,218 shares of the company's stock after buying an additional 660,966 shares during the period. Vanguard Group Inc. owned 11.08% of Upwork worth $226,414,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of UPWK. Quadrant Capital Group LLC grew its holdings in shares of Upwork by 67.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company's stock worth $30,000 after purchasing an additional 803 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in Upwork in the fourth quarter worth approximately $33,000. Sherbrooke Park Advisers LLC purchased a new stake in Upwork in the third quarter worth approximately $135,000. VitalStone Financial LLC purchased a new stake in Upwork in the fourth quarter worth approximately $204,000. Finally, Victory Capital Management Inc. boosted its stake in Upwork by 24.2% in the fourth quarter. Victory Capital Management Inc. now owns 16,200 shares of the company's stock worth $241,000 after buying an additional 3,156 shares in the last quarter. 77.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Upwork news, VP Dave Bottoms sold 2,843 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $13.22, for a total value of $37,584.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Upwork news, CFO Erica Gessert sold 4,537 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $10.22, for a total value of $46,368.14. Following the completion of the transaction, the chief financial officer now owns 90,166 shares in the company, valued at $921,496.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Dave Bottoms sold 2,843 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $13.22, for a total value of $37,584.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,337 shares of company stock worth $2,269,408. 7.60% of the stock is owned by corporate insiders.

Upwork Trading Up 0.6 %

Shares of Upwork stock traded up $0.06 during midday trading on Tuesday, reaching $10.74. 1,475,984 shares of the company's stock traded hands, compared to its average volume of 1,990,875. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.93 and a current ratio of 2.93. The company has a market cap of $1.43 billion, a PE ratio of 30.69 and a beta of 1.57. The stock has a 50 day moving average of $11.18 and a 200-day moving average of $12.63. Upwork Inc. has a 12 month low of $8.49 and a 12 month high of $16.36.

Upwork (NASDAQ:UPWK - Get Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. The company had revenue of $190.94 million during the quarter, compared to the consensus estimate of $186.71 million. Upwork had a return on equity of 13.96% and a net margin of 6.70%. As a group, equities analysts expect that Upwork Inc. will post 0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. BTIG Research raised Upwork from a "neutral" rating to a "buy" rating and set a $16.00 target price for the company in a research note on Thursday, May 2nd. Roth Mkm reissued a "buy" rating and set a $19.00 price objective on shares of Upwork in a research note on Wednesday, May 15th. UBS Group initiated coverage on Upwork in a research note on Tuesday. They set a "neutral" rating and a $12.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $20.00 price objective on shares of Upwork in a research note on Wednesday, May 15th. Finally, Royal Bank of Canada dropped their price objective on Upwork from $18.00 to $15.00 and set a "sector perform" rating for the company in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Upwork has an average rating of "Moderate Buy" and an average price target of $17.20.

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.