XTX Topco Ltd Increases Position in Upwork Inc. (NASDAQ:UPWK)

XTX Topco Ltd boosted its holdings in Upwork Inc. (NASDAQ:UPWK - Free Report) by 198.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,509 shares of the company's stock after buying an additional 40,242 shares during the period. XTX Topco Ltd's holdings in Upwork were worth $632,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board grew its stake in Upwork by 186.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 306,900 shares of the company's stock valued at $3,299,000 after buying an additional 199,900 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Upwork in the 3rd quarter valued at approximately $858,000. Victory Capital Management Inc. grew its position in shares of Upwork by 133.5% during the 3rd quarter. Victory Capital Management Inc. now owns 116,899 shares of the company's stock valued at $1,222,000 after purchasing an additional 66,842 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Upwork during the 2nd quarter valued at $1,637,000. Finally, BNP Paribas Financial Markets grew its position in shares of Upwork by 40.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company's stock valued at $2,630,000 after purchasing an additional 73,104 shares in the last quarter. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Olivier Marie sold 9,153 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $15.92, for a total transaction of $145,715.76. Following the transaction, the chief accounting officer now owns 1,294 shares in the company, valued at $20,600.48. The trade was a 87.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hayden Brown sold 20,000 shares of the business's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $10.01, for a total transaction of $200,200.00. Following the transaction, the chief executive officer now owns 1,170,561 shares in the company, valued at $11,717,315.61. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 214,808 shares of company stock valued at $2,756,163. Insiders own 7.60% of the company's stock.

Upwork Trading Down 0.8 %

Upwork stock traded down $0.13 during mid-day trading on Friday, hitting $16.89. The company's stock had a trading volume of 878,234 shares, compared to its average volume of 2,164,678. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.18 and a quick ratio of 3.18. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 27.02 and a beta of 1.58. The business has a 50 day moving average price of $14.15 and a 200-day moving average price of $11.74. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $17.79.

Upwork (NASDAQ:UPWK - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $193.78 million during the quarter, compared to the consensus estimate of $185.55 million. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share. As a group, analysts forecast that Upwork Inc. will post 0.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on UPWK shares. Roth Mkm boosted their price target on shares of Upwork from $13.00 to $20.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. JMP Securities boosted their price target on shares of Upwork from $14.00 to $18.00 and gave the company a "market outperform" rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their price target on shares of Upwork from $21.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. BTIG Research boosted their price target on shares of Upwork from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Citigroup lifted their price objective on shares of Upwork from $11.00 to $19.00 and gave the stock a "neutral" rating in a report on Friday, November 29th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.36.

Upwork Company 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.