Sei Investments Co. Has $2.62 Million Holdings in Upwork Inc. (NASDAQ:UPWK)

Sei Investments Co. boosted its holdings in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 41.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 159,945 shares of the company's stock after acquiring an additional 46,972 shares during the quarter. Sei Investments Co. owned 0.12% of Upwork worth $2,615,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP lifted its position in shares of 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. Nkcfo LLC acquired a new stake in shares of Upwork during the 4th quarter valued at $82,000. SBI Securities Co. Ltd. purchased a new position in shares of Upwork during the 4th quarter valued at $84,000. Financial Management Professionals Inc. acquired a new position in shares of Upwork in the fourth quarter worth $97,000. Finally, KBC Group NV increased its stake in shares of Upwork by 39.6% in the fourth quarter. KBC Group NV now owns 6,690 shares of the company's stock worth $109,000 after acquiring an additional 1,899 shares during the last quarter. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Hayden Brown sold 9,075 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $118,610.25. Following the completion of the transaction, the chief executive officer now directly owns 1,223,741 shares of the company's stock, valued at approximately $15,994,294.87. This trade represents a 0.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Erica Gessert sold 4,316 shares of Upwork stock in a transaction dated 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 owns 160,945 shares in the company, 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. In the last quarter, insiders sold 193,365 shares of company stock worth $3,050,760. 7.60% of the stock is currently owned by company insiders.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research analysts have commented on UPWK shares. Jefferies Financial Group lowered their target price on Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday. JMP Securities reaffirmed a "market outperform" rating and set a $18.00 price objective on shares of Upwork in a research report on Thursday, January 30th. UBS Group boosted their target price on shares of 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 lifted their price objective on shares of Upwork from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Scotiabank started coverage on shares of Upwork in a report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.58.

Upwork Stock Performance

Shares of UPWK traded up $1.39 during mid-day trading on Wednesday, hitting $13.19. The company's stock had a trading volume of 2,504,326 shares, compared to its average volume of 2,244,577. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The stock's 50-day moving average is $14.35 and its two-hundred day moving average is $14.58. The firm has a market capitalization of $1.79 billion, a PE ratio of 8.62 and a beta of 1.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39.

Upwork (NASDAQ:UPWK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. As a group, sell-side analysts anticipate that Upwork Inc. will post 0.84 EPS for the current 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.