Stifel Financial Corp Buys 147,059 Shares of Upwork Inc. (NASDAQ:UPWK)

Stifel Financial Corp boosted its position in Upwork Inc. (NASDAQ:UPWK - Free Report) by 228.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 211,569 shares of the company's stock after purchasing an additional 147,059 shares during the period. Stifel Financial Corp owned about 0.16% of Upwork worth $2,211,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP lifted its holdings in Upwork by 42.6% during the 3rd quarter. Quarry LP now owns 6,201 shares of the company's stock valued at $65,000 after purchasing an additional 1,851 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Upwork by 2,216.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company's stock worth $5,263,000 after buying an additional 481,942 shares during the last quarter. Invenomic Capital Management LP boosted its holdings in shares of Upwork by 12.5% during the 3rd quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company's stock worth $24,397,000 after buying an additional 260,274 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Upwork by 34.6% during the 3rd quarter. Janus Henderson Group PLC now owns 68,070 shares of the company's stock worth $712,000 after buying an additional 17,482 shares during the period. Finally, Holocene Advisors LP acquired a new position in Upwork in the 3rd quarter valued at about $282,000. Institutional investors own 77.71% of the company's stock.

Insiders Place Their Bets

In related news, CEO Hayden Brown sold 30,672 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $15.13, for a total transaction of $464,067.36. Following the sale, the chief executive officer now owns 1,196,221 shares of the company's stock, valued at $18,098,823.73. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Erica Gessert sold 19,816 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $15.13, for a total value of $299,816.08. Following the sale, the chief financial officer now owns 128,939 shares in the company, valued at $1,950,847.07. This represents a 13.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,726 shares of company stock valued at $2,033,486. 7.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on UPWK. JMP Securities raised their price objective on shares of Upwork from $14.00 to $18.00 and gave the stock a "market outperform" rating in a research report on Thursday, November 7th. UBS Group lifted their price target on Upwork from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Canaccord Genuity Group upped their price objective on Upwork from $15.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their target price on Upwork from $21.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Piper Sandler restated an "overweight" rating and issued a $18.00 price target (up from $13.00) on shares of Upwork in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.36.

Upwork Price Performance

Shares of NASDAQ:UPWK traded up $0.20 during midday trading on Friday, hitting $16.44. The stock had a trading volume of 3,093,067 shares, compared to its average volume of 2,170,488. The company's 50-day moving average price is $14.77 and its 200-day moving average price is $11.95. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.87. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14. The company has a market capitalization of $2.20 billion, a P/E ratio of 26.10 and a beta of 1.58.

Upwork (NASDAQ:UPWK - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. The company had revenue of $193.78 million for the quarter, compared to analyst estimates of $185.55 million. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.12 EPS. As a group, equities research analysts predict that Upwork Inc. will post 0.65 EPS for the current fiscal 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.