Straightline Group LLC Acquires Shares of 32,645 Upwork Inc. (NASDAQ:UPWK)

Straightline Group LLC bought a new stake in Upwork Inc. (NASDAQ:UPWK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 32,645 shares of the company's stock, valued at approximately $534,000. Upwork accounts for 0.3% of Straightline Group LLC's investment portfolio, making the stock its 17th biggest holding.

A number of other institutional investors and hedge funds have also modified their holdings of UPWK. Charles Schwab Investment Management Inc. increased its position in shares of Upwork by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,011,508 shares of the company's stock worth $10,570,000 after purchasing an additional 14,680 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Upwork by 34.6% during the third 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 in the last quarter. Point72 Asset Management L.P. raised its position in shares of Upwork by 2,216.8% in the third quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company's stock valued at $5,263,000 after buying an additional 481,942 shares during the last quarter. Quarry LP lifted its stake 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 buying an additional 1,851 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in Upwork by 228.0% during the third quarter. Stifel Financial Corp now owns 211,569 shares of the company's stock worth $2,211,000 after acquiring an additional 147,059 shares during the last quarter. Hedge funds and other institutional investors own 77.71% of the company's stock.

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Analyst Upgrades and Downgrades

UPWK has been the topic of a number of research reports. UBS Group raised their target price on shares of Upwork from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. BTIG Research cut shares of Upwork from a "buy" rating to a "neutral" rating in a research report on Friday, April 4th. Royal Bank of Canada raised their price objective on shares of Upwork from $16.00 to $18.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. Roth Mkm dropped their price target on shares of Upwork from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Needham & Company LLC raised their price target on shares of Upwork from $17.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.58.

Insider Buying and Selling at Upwork

In related news, CEO Hayden Brown sold 21,122 shares of Upwork stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total value of $341,120.30. Following the completion of the transaction, the chief executive officer now directly owns 1,275,083 shares in the company, valued at approximately $20,592,590.45. This trade represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dave Bottoms sold 5,411 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total value of $70,721.77. Following the sale, the insider now owns 9,593 shares in the company, valued at approximately $125,380.51. This trade represents a 36.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 193,365 shares of company stock valued at $3,050,760 in the last 90 days. Company insiders own 7.60% of the company's stock.

Upwork Trading Up 2.1 %

NASDAQ:UPWK traded up $0.27 during trading hours on Friday, reaching $12.90. 1,513,944 shares of the stock were exchanged, compared to its average volume of 2,243,919. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14. The business has a 50-day moving average of $14.25 and a two-hundred day moving average of $14.61. The company has a market capitalization of $1.75 billion, a price-to-earnings 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 (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, 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%. On average, equities analysts predict 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.