5,040 Shares in Upwork Inc. (NASDAQ:UPWK) Bought by Nkcfo LLC

Nkcfo LLC acquired a new stake in shares of Upwork Inc. (NASDAQ:UPWK) during the fourth quarter, Holdings Channel.com reports. The firm acquired 5,040 shares of the company’s stock, valued at approximately $82,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KBC Group NV boosted its stake in shares of Upwork by 45.4% during the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after purchasing an additional 1,497 shares during the period. CWM LLC boosted its position in shares of Upwork by 71.9% during the third quarter. CWM LLC now owns 5,896 shares of the company’s stock valued at $62,000 after buying an additional 2,467 shares during the period. Financial Management Professionals Inc. bought a new position in shares of Upwork during the fourth quarter valued at approximately $97,000. Quarry LP raised its holdings in shares of Upwork by 42.6% in the third quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after buying an additional 1,851 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its holdings in Upwork by 18.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company’s stock valued at $143,000 after acquiring an additional 2,129 shares during the period. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Insider Buying and Selling

In other news, VP Dave Bottoms sold 5,360 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total transaction of $91,709.60. Following the transaction, the vice president now directly owns 9,642 shares of the company’s stock, valued at approximately $164,974.62. This represents a 35.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Erica Gessert sold 19,816 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $15.13, for a total value of $299,816.08. Following the completion of the sale, the chief financial officer now directly owns 128,939 shares of the company’s stock, valued at $1,950,847.07. The trade was a 13.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 183,203 shares of company stock worth $3,042,191 in the last 90 days. 7.60% of the stock is owned by corporate insiders.

Upwork Stock Down 2.5 %

Shares of NASDAQ UPWK opened at $16.14 on Friday. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14. The stock’s fifty day simple moving average is $16.36 and its two-hundred day simple moving average is $13.47. The stock has a market capitalization of $2.16 billion, a PE ratio of 25.62 and a beta of 1.57. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87.

Upwork (NASDAQ:UPWK) last posted its 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 return on equity of 22.84% and a net margin of 11.26%. As a group, analysts expect that Upwork Inc. will post 0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

UPWK has been the topic of a number of recent analyst reports. Needham & Company LLC increased their target price on Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday. JMP Securities reiterated a “market outperform” rating and set a $18.00 price objective on shares of Upwork in a report on Thursday, January 30th. Roth Mkm dropped their target price on shares of Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price target (up previously from $13.00) on shares of Upwork in a research note on Thursday, November 7th. Finally, Jefferies Financial Group increased their price objective on Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.91.

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.