LSV Asset Management Takes $18.84 Million Position in Upwork Inc. (NASDAQ:UPWK)

LSV Asset Management bought a new position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,152,162 shares of the company's stock, valued at approximately $18,838,000. LSV Asset Management owned approximately 0.86% of Upwork at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wedmont Private Capital acquired a new position in shares of Upwork in the 4th quarter worth $544,000. Stifel Financial Corp lifted its stake in Upwork by 228.0% during the third quarter. Stifel Financial Corp now owns 211,569 shares of the company's stock valued at $2,211,000 after buying an additional 147,059 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Upwork in the fourth quarter worth about $419,000. Rhumbline Advisers increased its position in shares of 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 in the last quarter. Finally, Amundi raised its holdings in shares of Upwork by 37.6% during the fourth quarter. Amundi now owns 93,251 shares of the company's stock valued at $1,497,000 after acquiring an additional 25,464 shares during the period. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Upwork Stock Performance

UPWK traded up $0.08 during trading on Friday, hitting $12.74. The stock had a trading volume of 1,440,422 shares, compared to its average volume of 2,246,573. The firm has a market cap of $1.73 billion, a PE ratio of 8.33 and a beta of 1.60. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $18.14. The company has a 50 day simple moving average of $14.01 and a 200-day simple moving average of $14.65.

Upwork (NASDAQ:UPWK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share 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%. Analysts expect that Upwork Inc. will post 0.84 EPS for the current year.

Wall Street Analysts Forecast Growth

UPWK has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of Upwork from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Scotiabank assumed coverage on Upwork in a report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 target price on the stock. BTIG Research cut shares of Upwork from a "buy" rating to a "neutral" rating in a report on Friday, April 4th. Roth Mkm cut 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, JMP Securities restated a "market outperform" rating and set a $18.00 price target on shares of Upwork in a report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Upwork has an average rating of "Moderate Buy" and an average target price of $18.58.

Insider Buying and Selling

In other news, insider Dave Bottoms sold 5,411 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $70,721.77. Following the transaction, the insider now owns 9,593 shares in the company, valued at approximately $125,380.51. The trade was a 36.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Erica Gessert sold 4,316 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $56,410.12. Following the completion of the sale, the chief financial officer now owns 160,945 shares of the company's stock, valued at approximately $2,103,551.15. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 193,365 shares of company stock valued at $3,050,760. 7.60% of the stock is owned by company insiders.

About Upwork

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.