Alliancebernstein L.P. Has $6.25 Million Holdings in Upwork Inc. (NASDAQ:UPWK)

Alliancebernstein L.P. lifted its position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 163.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 381,950 shares of the company's stock after buying an additional 237,230 shares during the quarter. Alliancebernstein L.P. owned about 0.29% of Upwork worth $6,245,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Schroder Investment Management Group bought a new stake in shares of Upwork in the fourth quarter valued at approximately $1,095,000. Arrowstreet Capital Limited Partnership raised its holdings in Upwork by 3,932.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 772,607 shares of the company's stock valued at $12,632,000 after acquiring an additional 753,447 shares in the last quarter. Norges Bank bought a new stake in shares of Upwork during the 4th quarter valued at $5,951,000. Advantage Alpha Capital Partners LP lifted its position in shares of Upwork by 9.2% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 191,321 shares of the company's stock valued at $3,128,000 after acquiring an additional 16,062 shares during the period. Finally, LPL Financial LLC acquired a new stake in shares of Upwork during the 4th quarter worth $1,175,000. Institutional investors own 77.71% of the company's stock.

Insider Activity

In other Upwork news, Director Elizabeth A. Nelson sold 75,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $17.58, for a total value of $1,318,500.00. Following the sale, the director now owns 16,299 shares in the company, valued at approximately $286,536.42. The trade was a 82.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Dave Bottoms sold 5,411 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 value of $70,721.77. Following the completion of the sale, the insider now directly owns 9,593 shares of the company's stock, valued at approximately $125,380.51. The trade was a 36.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 193,365 shares of company stock valued at $3,050,760. Insiders own 7.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on UPWK shares. Roth Mkm cut their price objective 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. Royal Bank of Canada increased their price target on shares of Upwork from $16.00 to $18.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. Scotiabank began coverage on shares of Upwork in a research note on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price objective on the stock. Needham & Company LLC upped their target price on Upwork from $17.00 to $19.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, BTIG Research lowered Upwork from a "buy" rating to a "neutral" rating in a research note on Friday, April 4th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.58.

Upwork Price Performance

UPWK traded up $0.08 on Friday, reaching $12.74. The stock had a trading volume of 1,440,422 shares, compared to its average volume of 2,249,156. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 8.33 and a beta of 1.60. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14. The firm has a 50-day moving average of $13.96 and a 200-day moving average of $14.67.

Upwork (NASDAQ:UPWK - Get Free Report) last released its quarterly earnings data 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 50.83% and a net margin of 28.02%. As a group, sell-side analysts anticipate that Upwork Inc. will post 0.84 EPS for the current 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.