Cache Advisors LLC Takes Position in Upwork Inc. (NASDAQ:UPWK)

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

A number of other institutional investors and hedge funds have also modified their holdings of the business. Nkcfo LLC bought a new stake in shares of Upwork during the fourth quarter worth $82,000. SBI Securities Co. Ltd. acquired a new stake in shares of Upwork in the 4th quarter valued at approximately $84,000. KBC Group NV boosted its position in Upwork by 39.6% during the 4th quarter. KBC Group NV now owns 6,690 shares of the company's stock worth $109,000 after buying an additional 1,899 shares during the period. State of Tennessee Department of Treasury acquired a new position in shares of Upwork in the 4th quarter worth approximately $180,000. Finally, Cibc World Markets Corp bought a new stake in shares of Upwork in the 4th quarter valued at $191,000. 77.71% of the stock is owned by institutional investors.

Upwork Stock Up 0.4%

Shares of UPWK stock traded up $0.07 during mid-day trading on Tuesday, reaching $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 12 month low of $8.43 and a 12 month high of $18.14. The company has a market cap of $2.08 billion, a P/E ratio of 10.34 and a beta of 1.52. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The company's 50-day moving average price is $14.10 and its 200-day moving average price is $15.29.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Roth Mkm lowered their price objective on shares of Upwork from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Wall Street Zen raised shares of Upwork from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Citigroup reissued an "outperform" rating on shares of Upwork in a research note on Friday, May 16th. Jefferies Financial Group decreased their price target on shares of Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, Scotiabank started coverage on shares of Upwork in a research note on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 target price on the stock. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.67.

Insider Activity

In other Upwork news, CEO Hayden Brown sold 60,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $14.20, for a total transaction of $852,000.00. Following the transaction, the chief executive officer now owns 1,215,083 shares in the company, valued at approximately $17,254,178.60. This represents a 4.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Olivier Marie sold 1,655 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $16.41, for a total transaction of $27,158.55. Following the transaction, the chief accounting officer now owns 1,294 shares in the company, valued at $21,234.54. This represents a 56.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 566,868 shares of company stock worth $9,478,580. Corporate insiders own 7.50% of the company's stock.

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.