49,636 Shares in Upwork Inc. (NASDAQ:UPWK) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 49,636 shares of the company's stock, valued at approximately $812,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Upwork by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,075,946 shares of the company's stock valued at $17,592,000 after purchasing an additional 64,438 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Upwork by 2,216.8% during the third quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company's stock valued at $5,263,000 after purchasing an additional 481,942 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Upwork by 9.3% during the fourth quarter. Bank of New York Mellon Corp now owns 413,248 shares of the company's stock valued at $6,757,000 after buying an additional 35,074 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Upwork by 40.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company's stock worth $2,630,000 after buying an additional 73,104 shares in the last quarter. Finally, SkyView Investment Advisors LLC raised its position in Upwork by 13.9% in the 3rd quarter. SkyView Investment Advisors LLC now owns 226,375 shares of the company's stock worth $2,366,000 after buying an additional 27,639 shares during the last quarter. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

UPWK has been the topic of a number of recent analyst reports. BTIG Research downgraded shares of Upwork from a "buy" rating to a "neutral" rating in a report on Friday, April 4th. Royal Bank of Canada raised their target price on shares of Upwork from $16.00 to $18.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. JMP Securities reiterated a "market outperform" rating and set a $18.00 target price on shares of Upwork in a research note on Thursday, January 30th. Roth Mkm dropped their price target on Upwork from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Finally, Needham & Company LLC lifted their price objective on Upwork from $17.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.58.

Insider Transactions at Upwork

In related news, CEO Hayden Brown sold 21,122 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total value of $341,120.30. Following 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. The trade was a 1.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Erica Gessert sold 4,316 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $56,410.12. Following the sale, the chief financial officer now directly owns 160,945 shares of the company's stock, valued at approximately $2,103,551.15. This trade represents a 2.61 % 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. Corporate insiders own 7.60% of the company's stock.

Upwork Stock Performance

UPWK traded down $0.56 during midday trading on Thursday, reaching $12.63. The company had a trading volume of 2,033,102 shares, compared to its average volume of 2,244,859. The business has a 50-day moving average of $14.30 and a two-hundred day moving average of $14.60. The company has a quick ratio of 3.39, a current 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. The company has a market cap of $1.71 billion, a P/E ratio of 8.25 and a beta of 1.60.

Upwork (NASDAQ:UPWK - Get Free Report) last announced its quarterly earnings data 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 return on equity of 50.83% and a net margin of 28.02%. As a group, equities research analysts predict that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

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.