40,801 Shares in Upwork Inc. (NASDAQ:UPWK) Bought by Semanteon Capital Management LP

Semanteon Capital Management LP purchased a new position in Upwork Inc. (NASDAQ:UPWK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,801 shares of the company's stock, valued at approximately $667,000.

Other large investors also recently modified their holdings of the company. KBC Group NV grew its position in Upwork by 45.4% during the third quarter. KBC Group NV now owns 4,791 shares of the company's stock worth $50,000 after buying an additional 1,497 shares in the last quarter. Nkcfo LLC bought a new stake in shares of Upwork during the 4th quarter valued at about $82,000. SBI Securities Co. Ltd. purchased a new position in shares of Upwork during the fourth quarter worth about $84,000. Financial Management Professionals Inc. purchased a new position in shares of Upwork during the fourth quarter worth about $97,000. Finally, Quarry LP increased 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 during the last quarter. 77.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Scotiabank started coverage on shares of Upwork in a research report on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 target price for the company. JMP Securities reiterated a "market outperform" rating and issued a $18.00 target price on shares of Upwork in a research report on Thursday, January 30th. UBS Group raised their price target on Upwork from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Jefferies Financial Group upped their price objective on Upwork from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, Needham & Company LLC raised their price objective on Upwork from $17.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.58.

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Insider Activity at Upwork

In other news, insider Dave Bottoms sold 5,411 shares of the business's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total value of $70,721.77. Following the completion of the transaction, the insider now owns 9,593 shares in the company, valued at $125,380.51. The trade was a 36.06 % 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 the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value of $341,120.30. Following the sale, the chief executive officer now directly owns 1,275,083 shares in the company, valued at $20,592,590.45. This trade represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 193,365 shares of company stock valued at $3,050,760. 7.60% of the stock is owned by corporate insiders.

Upwork Stock Down 1.2 %

Shares of NASDAQ:UPWK traded down $0.17 on Wednesday, hitting $13.73. 1,260,190 shares of the company traded hands, compared to its average volume of 2,205,215. The stock has a 50 day simple moving average of $15.30 and a 200-day simple moving average of $14.39. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The company has a market cap of $1.86 billion, a PE ratio of 8.97 and a beta of 1.61. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14.

Upwork (NASDAQ:UPWK - Get Free Report) last issued its 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, research analysts expect that Upwork Inc. will post 0.84 earnings per share 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.