Charles Schwab Investment Management Inc. raised its stake in Upwork Inc. (NASDAQ:UPWK - Free Report) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,075,946 shares of the company's stock after purchasing an additional 64,438 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.80% of Upwork worth $17,592,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in Upwork in the fourth quarter valued at about $84,000. Bank of New York Mellon Corp increased its position in shares of Upwork by 9.3% during the fourth quarter. Bank of New York Mellon Corp now owns 413,248 shares of the company's stock worth $6,757,000 after acquiring an additional 35,074 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Upwork during the fourth quarter worth about $996,000. Nkcfo LLC purchased a new stake in shares of Upwork during the fourth quarter worth about $82,000. Finally, Rhumbline Advisers increased its position in shares of Upwork by 1.4% during the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company's stock worth $2,914,000 after acquiring an additional 2,387 shares during the last quarter. 77.71% of the stock is owned by hedge funds and other institutional investors.
Upwork Stock Up 0.9 %
NASDAQ:UPWK traded up $0.12 during mid-day trading on Friday, reaching $13.57. The stock had a trading volume of 2,789,710 shares, compared to its average volume of 2,213,436. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 8.87 and a beta of 1.61. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14. The stock's 50 day simple moving average is $15.39 and its two-hundred day simple moving average is $14.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39.
Upwork (NASDAQ:UPWK - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. Equities analysts anticipate that Upwork Inc. will post 0.84 EPS for the current year.
Analyst Ratings Changes
UPWK has been the topic of a number of analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $18.00 target price on shares of Upwork in a research report on Thursday, January 30th. Roth Mkm dropped their target price on Upwork from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Needham & Company LLC lifted their target price on Upwork from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Scotiabank initiated coverage on Upwork in a research report on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 target price on the stock. Finally, Royal Bank of Canada lifted their target price on Upwork from $16.00 to $18.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.58.
Check Out Our Latest Stock Analysis on Upwork
Insider Buying and Selling at Upwork
In other news, Director Elizabeth A. Nelson sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $17.58, for a total transaction of $1,318,500.00. Following the completion of the transaction, the director now directly owns 16,299 shares in the company, valued at approximately $286,536.42. The trade was a 82.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Dave Bottoms sold 5,411 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 9,593 shares of the company's stock, valued at approximately $125,380.51. This represents a 36.06 % decrease in their ownership of the stock. 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 Company Profile
(
Free Report)
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.
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