23,046 Shares in Upwork Inc. (NASDAQ:UPWK) Acquired by Focus Partners Wealth

Focus Partners Wealth bought a new stake in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 23,046 shares of the company's stock, valued at approximately $377,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Nkcfo LLC acquired a new position in shares of Upwork in the fourth quarter worth about $82,000. SBI Securities Co. Ltd. acquired a new position in shares of Upwork in the fourth quarter worth about $84,000. KBC Group NV raised its position in shares of Upwork by 39.6% in the fourth quarter. KBC Group NV now owns 6,690 shares of the company's stock worth $109,000 after acquiring an additional 1,899 shares during the period. State of Tennessee Department of Treasury acquired a new position in shares of Upwork in the fourth quarter worth about $180,000. Finally, Cibc World Markets Corp acquired a new position in shares of Upwork in the fourth quarter worth about $191,000. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Upwork Price Performance

NASDAQ UPWK traded up $0.07 during trading hours on Tuesday, hitting $15.82. 1,608,548 shares of the company's stock traded hands, compared to its average volume of 2,259,811. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14. The company has a market capitalization of $2.08 billion, a PE ratio of 10.34 and a beta of 1.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. The firm's 50-day moving average is $14.14 and its 200-day moving average is $15.29.

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

Wall Street Analyst Weigh In

UPWK has been the subject of a number of analyst reports. Scotiabank initiated coverage on shares of Upwork in a research report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $19.00 price objective on shares of Upwork in a research report on Tuesday, May 6th. UBS Group upped their price objective on shares of Upwork from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. JMP Securities upped their price objective on shares of Upwork from $18.00 to $20.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. Finally, Citigroup reiterated an "outperform" rating on shares of Upwork in a research report on Friday, May 16th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Upwork currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.67.

Insider Activity

In related news, insider Dave Bottoms sold 1,620 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $16.41, for a total transaction of $26,584.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Layton sold 250,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $17.47, for a total transaction of $4,367,500.00. Following the transaction, the director now directly owns 1,867,769 shares of the company's stock, valued at $32,629,924.43. The trade was a 11.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 566,868 shares of company stock valued at $9,478,580 in the last 90 days. Company insiders own 7.50% of the company's stock.

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.