Upwork Inc. (NASDAQ:UPWK) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lessened its position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 85.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,063 shares of the company's stock after selling 211,490 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Upwork were worth $573,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Nkcfo LLC purchased a new stake in Upwork in the 4th quarter worth $82,000. SBI Securities Co. Ltd. purchased a new position in Upwork in the 4th quarter worth approximately $84,000. Financial Management Professionals Inc. bought a new position in Upwork in the 4th quarter worth approximately $97,000. KBC Group NV raised its position in shares of Upwork by 39.6% during the fourth quarter. KBC Group NV now owns 6,690 shares of the company's stock valued at $109,000 after buying an additional 1,899 shares during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in shares of Upwork in the fourth quarter worth $180,000. Institutional investors own 77.71% of the company's stock.

Upwork Trading Down 0.1%

Shares of NASDAQ UPWK traded down $0.02 during mid-day trading on Wednesday, reaching $16.44. 262,794 shares of the company's stock were exchanged, compared to its average volume of 2,251,640. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The company's 50-day moving average is $13.87 and its 200-day moving average is $15.25. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 10.74 and a beta of 1.52.

Upwork (NASDAQ:UPWK - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.09. The business had revenue of $192.71 million for the quarter, compared to the consensus estimate of $188.49 million. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The business's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 EPS. Analysts expect that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling at Upwork

In other news, Director Thomas Layton sold 250,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $17.47, for a total value of $4,367,500.00. Following the transaction, the director now owns 1,867,769 shares of the company's stock, valued at approximately $32,629,924.43. This trade represents a 11.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Hayden Brown sold 26,438 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $16.58, for a total value of $438,342.04. Following the completion of the transaction, the chief executive officer now directly owns 1,130,791 shares in the company, valued at $18,748,514.78. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 563,593 shares of company stock valued at $9,424,837. 7.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on UPWK shares. Roth Mkm dropped their price objective 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. Citigroup reaffirmed an "outperform" rating on shares of Upwork in a research note on Friday, May 16th. Scotiabank started coverage on shares of Upwork in a report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 target price on the stock. UBS Group lifted their price target on Upwork from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, JMP Securities upped their price objective on Upwork from $18.00 to $20.00 and gave the company a "market outperform" rating in a research report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.67.

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.