81,000 Shares in Upwork Inc. (NASDAQ:UPWK) Bought by Cache Advisors LLC

Cache Advisors LLC purchased a new stake in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 81,000 shares of the company's stock, valued at approximately $1,324,000. Cache Advisors LLC owned 0.06% of Upwork as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nkcfo LLC bought a new stake in shares of Upwork during the fourth quarter valued at about $82,000. SBI Securities Co. Ltd. bought a new position in shares of Upwork in the fourth quarter worth approximately $84,000. KBC Group NV increased 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 purchasing an additional 1,899 shares during the last quarter. State of Tennessee Department of Treasury bought a new position in shares of Upwork in the fourth quarter worth approximately $180,000. Finally, Cibc World Markets Corp bought a new position in shares of Upwork in the fourth quarter worth approximately $191,000. 77.71% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Hayden Brown sold 60,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $14.20, for a total transaction of $852,000.00. Following the completion of the sale, the chief executive officer now owns 1,215,083 shares of the company's stock, valued at approximately $17,254,178.60. This represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas Layton sold 250,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $17.47, for a total value of $4,367,500.00. Following the completion of the sale, 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. Over the last 90 days, insiders sold 566,868 shares of company stock valued at $9,478,580. 7.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Wall Street Zen upgraded shares of Upwork from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Citigroup restated an "outperform" rating on shares of Upwork in a research report on Friday, May 16th. Scotiabank assumed 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 on the stock. Finally, BTIG Research cut shares of Upwork from a "buy" rating to a "neutral" rating in a research report on Friday, April 4th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Upwork presently has a consensus rating of "Moderate Buy" and an average target price of $18.67.

Upwork Price Performance

NASDAQ UPWK traded down $0.22 on Wednesday, reaching $15.60. 1,054,076 shares of the company's stock traded hands, compared to its average volume of 2,255,007. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $18.14. 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 stock has a 50-day simple moving average of $14.14 and a 200 day simple moving average of $15.29. The stock has a market cap of $2.05 billion, a PE ratio of 10.20 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.09. The firm had revenue of $192.71 million during 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 business's quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 earnings per share. As a group, research analysts predict that Upwork Inc. will post 0.84 earnings per share for the current year.

About Upwork

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.