XTX Topco Ltd Reduces Holdings in Upwork Inc. (NASDAQ:UPWK)

XTX Topco Ltd lessened its holdings in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 56.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,292 shares of the company's stock after selling 34,217 shares during the quarter. XTX Topco Ltd's holdings in Upwork were worth $430,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of UPWK. Renaissance Technologies LLC increased its position in Upwork by 70.1% during the fourth quarter. Renaissance Technologies LLC now owns 2,045,115 shares of the company's stock worth $33,438,000 after acquiring an additional 843,115 shares during the period. Invesco Ltd. raised its holdings in shares of Upwork by 1,674.0% in the fourth quarter. Invesco Ltd. now owns 1,748,320 shares of the company's stock valued at $28,585,000 after buying an additional 1,649,766 shares during the last quarter. LSV Asset Management acquired a new stake in shares of Upwork in the fourth quarter valued at approximately $18,838,000. Charles Schwab Investment Management Inc. raised its position in shares of Upwork by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,946 shares of the company's stock worth $17,592,000 after acquiring an additional 64,438 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Upwork by 3,932.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 772,607 shares of the company's stock worth $12,632,000 after buying an additional 753,447 shares during the last quarter. 77.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Dave Bottoms sold 5,411 shares of Upwork 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 directly owns 9,593 shares of the company's stock, valued at approximately $125,380.51. The trade was a 36.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Elizabeth A. Nelson sold 75,000 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $17.58, for a total transaction of $1,318,500.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 193,108 shares of company stock worth $3,046,648 over the last quarter. 7.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Jefferies Financial Group dropped their price target on Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. JMP Securities reiterated a "market outperform" rating and issued a $18.00 target price on shares of Upwork in a research note on Thursday, January 30th. Needham & Company LLC upped their price target on shares of Upwork from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Roth Mkm reduced their target price on shares of Upwork from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, BTIG Research lowered Upwork from a "buy" rating to a "neutral" rating in a research note on Friday, April 4th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $18.58.

Upwork Trading Down 0.1 %

NASDAQ UPWK traded down $0.02 during trading on Friday, hitting $13.54. 1,194,471 shares of the company's stock traded hands, compared to its average volume of 2,239,475. The firm has a market cap of $1.83 billion, a P/E ratio of 8.85 and a beta of 1.60. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. The stock has a fifty day moving average of $13.71 and a two-hundred day moving average of $14.73.

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, beating the consensus estimate of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. As a group, sell-side analysts expect 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.