OneDigital Investment Advisors LLC Increases Stock Holdings in Upwork Inc. (NASDAQ:UPWK)

OneDigital Investment Advisors LLC lifted its holdings in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 70.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 314,507 shares of the company's stock after buying an additional 129,923 shares during the period. OneDigital Investment Advisors LLC owned approximately 0.24% of Upwork worth $5,142,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Nkcfo LLC purchased a new position in shares of Upwork in the 4th quarter worth $82,000. SBI Securities Co. Ltd. bought a new stake in shares of Upwork during the 4th quarter valued at about $84,000. Financial Management Professionals Inc. purchased a new stake in shares of Upwork during the 4th quarter valued at about $97,000. KBC Group NV lifted its stake in shares of Upwork by 39.6% in the 4th quarter. KBC Group NV now owns 6,690 shares of the company's stock worth $109,000 after purchasing an additional 1,899 shares during the period. Finally, Cibc World Markets Corp bought a new position in shares of Upwork in the 4th quarter worth approximately $191,000. 77.71% of the stock is currently owned by institutional investors.

Upwork Price Performance

Shares of Upwork stock traded down $0.02 on Friday, hitting $13.54. 1,194,471 shares of the company traded hands, compared to its average volume of 2,239,475. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. The business has a 50-day simple moving average of $13.71 and a 200 day simple moving average of $14.73. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The stock has a market capitalization of $1.83 billion, a P/E ratio of 8.85 and a beta of 1.60.

Upwork (NASDAQ:UPWK - Get Free Report) last announced its quarterly 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%. Research analysts expect that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Insider Activity at Upwork

In related news, Director Elizabeth A. Nelson sold 75,000 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $17.58, for a total transaction of $1,318,500.00. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hayden Brown sold 21,122 shares of Upwork stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total transaction 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 $20,592,590.45. The trade was a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 193,108 shares of company stock valued at $3,046,648. Insiders own 7.60% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Roth Mkm reduced their target price on shares of Upwork from $20.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Needham & Company LLC raised their target price on Upwork from $17.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. JMP Securities reissued a "market outperform" rating and set a $18.00 price target on shares of Upwork in a report on Thursday, January 30th. Royal Bank of Canada upped their price target on Upwork from $16.00 to $18.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group lowered their price objective on Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Upwork has a consensus rating of "Moderate Buy" and an average price target of $18.58.

About Upwork

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.