Russell Investments Group Ltd. Purchases 79,459 Shares of Upwork Inc. (NASDAQ:UPWK)

Russell Investments Group Ltd. boosted its holdings in Upwork Inc. (NASDAQ:UPWK - Free Report) by 20,322.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,850 shares of the company's stock after purchasing an additional 79,459 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of Upwork worth $1,326,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in 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 purchasing an additional 1,899 shares in the last quarter. Rhumbline Advisers increased its position in Upwork by 1.4% during the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company's stock worth $2,914,000 after purchasing an additional 2,387 shares during the period. King Luther Capital Management Corp increased its position in Upwork by 1.0% during the 4th quarter. King Luther Capital Management Corp now owns 263,802 shares of the company's stock worth $4,313,000 after purchasing an additional 2,636 shares during the period. Hillsdale Investment Management Inc. raised its stake in shares of 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 buying an additional 2,700 shares in the last quarter. Finally, Stoneridge Investment Partners LLC lifted its holdings in shares of Upwork by 19.9% in the 4th quarter. Stoneridge Investment Partners LLC now owns 16,566 shares of the company's stock valued at $271,000 after buying an additional 2,744 shares during the period. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Upwork Stock Performance

Shares of NASDAQ:UPWK traded up $0.03 on Friday, hitting $13.59. The company's stock had a trading volume of 192,295 shares, compared to its average volume of 2,235,548. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $18.14. The stock's 50-day moving average is $13.71 and its two-hundred day moving average is $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 company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 8.88 and a beta of 1.60.

Upwork (NASDAQ:UPWK - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share 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, equities research analysts forecast that Upwork Inc. will post 0.84 EPS for the current year.

Wall Street Analysts Forecast Growth

UPWK has been the subject of a number of research reports. Jefferies Financial Group reduced their price target on shares of Upwork from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Scotiabank started coverage on Upwork in a research note on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price objective for the company. JMP Securities reiterated a "market outperform" rating and set a $18.00 target price on shares of Upwork in a research report on Thursday, January 30th. Needham & Company LLC upped their target price on Upwork from $17.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Roth Mkm cut their price target on Upwork from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.58.

Insider Buying and Selling at Upwork

In related news, Director Elizabeth A. Nelson sold 75,000 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 16,299 shares of the company's stock, valued at approximately $286,536.42. This represents a 82.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dave Bottoms sold 5,411 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $125,380.51. This represents a 36.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,108 shares of company stock valued at $3,046,648. Corporate insiders own 7.60% of the company's stock.

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.