54,043 Shares in Upwork Inc. (NASDAQ:UPWK) Purchased by Bosun Asset Management LLC

Bosun Asset Management LLC acquired a new position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,043 shares of the company's stock, valued at approximately $884,000.

A number of other hedge funds have also modified their holdings of the company. Wedmont Private Capital bought a new stake in Upwork in the fourth quarter valued at approximately $544,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Upwork during the fourth quarter worth $419,000. Rhumbline Advisers boosted 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 valued at $2,914,000 after acquiring an additional 2,387 shares during the period. Amundi increased its position in Upwork by 37.6% during the fourth quarter. Amundi now owns 93,251 shares of the company's stock worth $1,497,000 after acquiring an additional 25,464 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Upwork by 9.3% in the 4th quarter. Bank of New York Mellon Corp now owns 413,248 shares of the company's stock worth $6,757,000 after purchasing an additional 35,074 shares in the last quarter. 77.71% of the stock is currently owned by institutional investors.

Upwork Trading Up 1.2 %

Shares of NASDAQ:UPWK traded up $0.19 during mid-day trading on Thursday, reaching $16.46. 2,050,259 shares of the company's stock were exchanged, compared to its average volume of 2,238,779. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 10.76 and a beta of 1.52. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14. The business's fifty day moving average price is $13.35 and its 200-day moving average price is $15.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39.

Upwork (NASDAQ:UPWK - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. The company had revenue of $192.71 million for the quarter, compared to analyst estimates of $188.49 million. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The firm's quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. On average, research analysts predict that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Insider Activity at Upwork

In related news, CEO Hayden Brown sold 21,122 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total transaction of $341,120.30. Following the transaction, the chief executive officer now owns 1,275,083 shares in the company, valued at $20,592,590.45. The trade was a 1.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Erica Gessert sold 13,765 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total transaction of $222,304.75. Following the completion of the sale, the chief financial officer now owns 156,828 shares of the company's stock, valued at $2,532,772.20. The trade was a 8.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 193,108 shares of company stock worth $3,046,648 in the last 90 days. Corporate insiders own 7.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on UPWK shares. UBS Group lifted their price target on shares of Upwork from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $18.00 price target on shares of Upwork in a research note on Tuesday. Needham & Company LLC reissued a "buy" rating and issued a $19.00 target price on shares of Upwork in a report on Tuesday. JMP Securities restated a "market outperform" rating and issued a $18.00 target price on shares of Upwork in a research report on Thursday, January 30th. Finally, Roth Mkm decreased their price objective on shares of Upwork from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.50.

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.