Schroder Investment Management Group Makes New Investment in Upwork Inc. (NASDAQ:UPWK)

Schroder Investment Management Group bought a new stake in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 65,928 shares of the company's stock, valued at approximately $1,095,000.

A number of other hedge funds have also modified their holdings of UPWK. Nkcfo LLC bought a new stake in Upwork during the fourth quarter valued at about $82,000. SBI Securities Co. Ltd. bought a new position in shares of Upwork during the 4th quarter worth about $84,000. Financial Management Professionals Inc. bought a new stake in Upwork in the fourth quarter valued at about $97,000. Quarry LP raised its position in Upwork by 42.6% in the third quarter. Quarry LP now owns 6,201 shares of the company's stock worth $65,000 after purchasing an additional 1,851 shares in the last quarter. Finally, KBC Group NV lifted its stake 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 during the period. 77.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Upwork

In other Upwork news, CEO Hayden Brown sold 9,075 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 value of $118,610.25. Following the completion of the transaction, the chief executive officer now directly owns 1,223,741 shares in the company, valued at $15,994,294.87. This trade represents a 0.74 % 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, insider Dave Bottoms sold 5,411 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total transaction of $70,721.77. Following the transaction, the insider now owns 9,593 shares in the company, valued at $125,380.51. This represents a 36.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 193,365 shares of company stock worth $3,050,760. Corporate insiders own 7.60% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms recently commented on UPWK. UBS Group raised their target price on Upwork from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Needham & Company LLC upped their price target 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. BTIG Research cut Upwork from a "buy" rating to a "neutral" rating in a research note on Friday, April 4th. Scotiabank initiated coverage on shares of Upwork in a research note on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 price target for the company. Finally, Royal Bank of Canada upped their target price on shares of Upwork from $16.00 to $18.00 and gave the company a "sector perform" rating in a research 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $18.58.

Upwork Stock Up 2.1 %

Shares of NASDAQ:UPWK traded up $0.27 during midday trading on Friday, reaching $12.90. 1,513,944 shares of the company were exchanged, compared to its average volume of 2,243,919. The firm has a market cap of $1.75 billion, a PE ratio of 8.43 and a beta of 1.60. 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 fifty-two week low of $8.43 and a fifty-two week high of $18.14. The stock has a fifty day simple moving average of $14.25 and a two-hundred day simple moving average of $14.61.

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

Upwork Company 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.