Alpha DNA Investment Management LLC Makes New $446,000 Investment in Upwork Inc. (NASDAQ:UPWK)

Alpha DNA Investment Management LLC purchased a new position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 27,269 shares of the company's stock, valued at approximately $446,000.

Several other large investors have also bought and sold shares of the business. Renaissance Technologies LLC grew its position in shares of Upwork by 70.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,045,115 shares of the company's stock worth $33,438,000 after buying an additional 843,115 shares during the period. Invesco Ltd. increased its stake in Upwork by 1,674.0% in the fourth quarter. Invesco Ltd. now owns 1,748,320 shares of the company's stock valued at $28,585,000 after purchasing an additional 1,649,766 shares in the last quarter. LSV Asset Management acquired a new stake in Upwork in the fourth quarter worth $18,838,000. Charles Schwab Investment Management Inc. boosted its position in shares of Upwork by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,946 shares of the company's stock worth $17,592,000 after purchasing an additional 64,438 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of 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 buying an additional 753,447 shares during the period. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Upwork news, CEO Hayden Brown sold 21,122 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value of $341,120.30. Following the transaction, the chief executive officer now directly owns 1,275,083 shares in the company, valued at $20,592,590.45. The trade was a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dave Bottoms sold 5,411 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total transaction of $70,721.77. Following the sale, the insider now owns 9,593 shares of the company's stock, valued at approximately $125,380.51. This represents a 36.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 193,108 shares of company stock valued at $3,046,648 over the last 90 days. 7.60% of the stock is currently owned by insiders.

Upwork Stock Up 2.8 %

UPWK stock traded up $0.37 during mid-day trading on Thursday, reaching $13.53. The company had a trading volume of 335,320 shares, compared to its average volume of 2,235,368. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 8.83 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 stock has a 50 day simple moving average of $13.76 and a two-hundred day simple moving average of $14.71. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39.

Upwork (NASDAQ:UPWK - Get Free Report) last posted 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 net margin of 28.02% and a return on equity of 50.83%. As a group, equities analysts predict that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

UPWK has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on Upwork from $16.00 to $18.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. Scotiabank started coverage on Upwork in a research report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price objective for the company. UBS Group raised their target price on shares of Upwork from $18.00 to $19.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. JMP Securities reiterated a "market outperform" rating and issued a $18.00 price target on shares of Upwork in a report on Thursday, January 30th. Finally, BTIG Research lowered shares of Upwork from a "buy" rating to a "neutral" rating in a report on Friday, April 4th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $18.58.

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.