Counterpoint Mutual Funds LLC Makes New $456,000 Investment in Upwork Inc. (NASDAQ:UPWK)

Counterpoint Mutual Funds LLC purchased a new stake in shares of Upwork Inc. (NASDAQ:UPWK) in the 4th quarter, Holdings Channel reports. The fund purchased 27,915 shares of the company’s stock, valued at approximately $456,000.

A number of other large investors have also recently modified their holdings of the company. KBC Group NV increased its holdings in 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. Quarry LP increased its stake in shares of Upwork by 42.6% during the third quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after buying an additional 1,851 shares during the period. Citizens Financial Group Inc. RI raised its holdings in shares of Upwork by 18.4% in the third 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 in the last quarter. Rhumbline Advisers lifted its stake in Upwork by 1.4% in the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock worth $2,914,000 after acquiring an additional 2,387 shares during the period. Finally, King Luther Capital Management Corp grew its holdings in Upwork by 1.0% during the 4th quarter. King Luther Capital Management Corp now owns 263,802 shares of the company’s stock worth $4,313,000 after acquiring an additional 2,636 shares in the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Analysts Set New Price Targets

UPWK has been the subject of several recent research reports. Roth Mkm reduced their price target on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 13th. UBS Group upped their target price on Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Jefferies Financial Group lifted their price target on Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup upped their price objective on Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Finally, Needham & Company LLC lifted their target price on Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.58.

Insider Activity at Upwork

In related news, Director Elizabeth A. Nelson sold 75,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $17.58, for a total value of $1,318,500.00. Following the transaction, the director now owns 16,299 shares in the company, valued at approximately $286,536.42. This represents a 82.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dave Bottoms sold 5,360 shares of Upwork stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $17.11, for a total transaction of $91,709.60. Following the sale, the vice president now owns 9,642 shares of the company’s stock, valued at approximately $164,974.62. The trade was a 35.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 268,187 shares of company stock valued at $4,432,413 in the last ninety days. Company insiders own 7.60% of the company’s stock.

Upwork Stock Performance

UPWK opened at $13.14 on Tuesday. The company has a market cap of $1.78 billion, a P/E ratio of 8.59 and a beta of 1.61. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $15.59 and its 200-day moving average price is $14.23. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities analysts anticipate that Upwork Inc. will post 0.84 EPS for the current fiscal year.

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.