Upwork Inc. (NASDAQ:UPWK) Shares Acquired by Amundi

Amundi boosted its holdings in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 37.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,251 shares of the company's stock after acquiring an additional 25,464 shares during the quarter. Amundi owned about 0.07% of Upwork worth $1,497,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UPWK. Verition Fund Management LLC acquired a new stake in Upwork during the third quarter worth $8,369,000. Point72 Asset Management L.P. increased its stake in Upwork by 2,216.8% during the third quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company's stock worth $5,263,000 after acquiring an additional 481,942 shares during the last quarter. Invenomic Capital Management LP increased its stake in Upwork by 12.5% during the third quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company's stock worth $24,397,000 after acquiring an additional 260,274 shares during the last quarter. Stifel Financial Corp increased its stake 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. Finally, Cerity Partners LLC acquired a new stake in Upwork during the third quarter worth $1,288,000. Institutional investors and hedge funds own 77.71% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on UPWK. Scotiabank began coverage on Upwork in a research note on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price objective for the company. Jefferies Financial Group lifted their price objective on Upwork from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Citigroup lifted their price objective on Upwork from $11.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, November 29th. UBS Group lifted their price objective on Upwork from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada lifted their price objective on Upwork from $16.00 to $18.00 and gave the company a "sector perform" rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Upwork has a consensus rating of "Moderate Buy" and an average price target of $18.58.

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Upwork Stock Up 0.9 %

NASDAQ:UPWK traded up $0.12 during midday trading on Friday, reaching $13.57. The company had a trading volume of 2,789,710 shares, compared to its average volume of 2,211,160. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 8.87 and a beta of 1.61. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. The stock's fifty day simple moving average is $15.39 and its 200-day simple moving average is $14.27. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14.

Upwork (NASDAQ:UPWK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Hayden Brown sold 9,075 shares of the business'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 $118,610.25. Following the transaction, the chief executive officer now owns 1,223,741 shares in the company, valued at $15,994,294.87. The trade was a 0.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Erica Gessert sold 4,316 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 $56,410.12. Following the transaction, the chief financial officer now owns 160,945 shares in the company, valued at $2,103,551.15. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 193,365 shares of company stock valued at $3,050,760. Insiders own 7.60% of the company's stock.

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.