Upwork Inc. (NASDAQ:UPWK) Shares Sold by Trexquant Investment LP

Trexquant Investment LP reduced its stake in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 36.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 536,347 shares of the company's stock after selling 304,765 shares during the period. Trexquant Investment LP owned approximately 0.40% of Upwork worth $8,769,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Quarry LP boosted its stake in shares of Upwork by 42.6% during the 3rd quarter. Quarry LP now owns 6,201 shares of the company's stock worth $65,000 after acquiring an additional 1,851 shares in the last quarter. KBC Group NV boosted its position 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 in the last quarter. Rhumbline Advisers grew its holdings in Upwork by 1.4% in the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company's stock valued at $2,914,000 after purchasing an additional 2,387 shares during the period. King Luther Capital Management Corp increased its position in shares of Upwork by 1.0% in the fourth quarter. King Luther Capital Management Corp now owns 263,802 shares of the company's stock valued at $4,313,000 after buying an additional 2,636 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its position in shares of Upwork by 0.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 349,800 shares of the company's stock valued at $5,719,000 after buying an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 77.71% of the company's stock.

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Analysts Set New Price Targets

UPWK has been the subject of several recent analyst reports. BTIG Research lowered shares of Upwork from a "buy" rating to a "neutral" rating in a report on Friday, April 4th. Needham & Company LLC boosted their target price on shares of Upwork from $17.00 to $19.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. JMP Securities reaffirmed a "market outperform" rating and issued a $18.00 price target on shares of Upwork in a research note on Thursday, January 30th. UBS Group lifted their price objective on Upwork from $18.00 to $19.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, Roth Mkm reduced their target price on Upwork from $20.00 to $19.00 and set a "buy" rating for the company 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.58.

Insider Transactions at Upwork

In other Upwork news, insider Dave Bottoms sold 5,411 shares of the business'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 $70,721.77. Following the sale, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Erica Gessert sold 13,765 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total transaction of $222,304.75. Following the completion of the transaction, the chief financial officer now directly owns 156,828 shares of the company's stock, valued at approximately $2,532,772.20. The trade was a 8.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 193,365 shares of company stock worth $3,050,760 over the last ninety days. Company insiders own 7.60% of the company's stock.

Upwork Trading Up 11.8 %

Shares of NASDAQ UPWK traded up $1.39 during mid-day trading on Wednesday, reaching $13.19. 2,504,326 shares of the company's stock were exchanged, compared to its average volume of 2,244,578. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 8.62 and a beta of 1.60. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14. The company's 50-day moving average is $14.35 and its 200-day moving average is $14.58. 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 announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. Analysts expect that Upwork Inc. will post 0.84 EPS for the current fiscal 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.