Grandeur Peak Global Advisors LLC Acquires New Stake in Upwork Inc. (NASDAQ:UPWK)

Grandeur Peak Global Advisors LLC bought a new position in shares of Upwork Inc. (NASDAQ:UPWK) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 224,182 shares of the company’s stock, valued at approximately $3,665,000. Grandeur Peak Global Advisors LLC owned 0.17% of Upwork at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in UPWK. Nkcfo LLC acquired a new position in shares of Upwork in the fourth quarter worth approximately $82,000. SBI Securities Co. Ltd. acquired a new position in shares of Upwork in the 4th quarter worth approximately $84,000. Financial Management Professionals Inc. acquired a new position in shares of Upwork in the 4th quarter worth approximately $97,000. KBC Group NV boosted its stake in shares of Upwork by 39.6% in the 4th quarter. KBC Group NV now owns 6,690 shares of the company’s stock valued at $109,000 after purchasing an additional 1,899 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new stake in shares of Upwork during the fourth quarter worth $191,000. Institutional investors own 77.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Roth Mkm cut their price target on shares of 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 upped their target price on Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group lowered their target price on Upwork from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 7th. UBS Group boosted their price target on Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Scotiabank assumed coverage on shares of Upwork in a research report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Upwork presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.58.

Upwork Price Performance

UPWK stock opened at $12.90 on Friday. The company has a market capitalization of $1.75 billion, a P/E ratio of 8.43 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 business has a 50-day simple moving average of $14.25 and a two-hundred day simple moving average of $14.61. 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) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. Research analysts expect that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Upwork news, CEO Hayden Brown sold 21,122 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total value of $341,120.30. Following the completion of the sale, the chief executive officer now directly owns 1,275,083 shares of the company’s stock, valued at $20,592,590.45. This trade represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Dave Bottoms sold 5,411 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $70,721.77. Following the completion of the sale, the insider now directly owns 9,593 shares in the company, valued at approximately $125,380.51. This trade represents a 36.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 193,365 shares of company stock worth $3,050,760. 7.60% of the stock is owned by insiders.

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.