Cambridge Investment Research Advisors Inc. Has $709,000 Position in Upwork Inc. (NASDAQ:UPWK)

Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 174.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 54,365 shares of the company's stock after acquiring an additional 34,534 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Upwork were worth $709,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of UPWK. GAMMA Investing LLC boosted its position in shares of Upwork by 1,235.1% in the 1st quarter. GAMMA Investing LLC now owns 4,072 shares of the company's stock worth $53,000 after purchasing an additional 3,767 shares during the last quarter. Alhambra Investment Management LLC bought a new position in Upwork during the first quarter worth about $178,000. State of Tennessee Department of Treasury acquired a new position in shares of Upwork during the 4th quarter worth about $180,000. Cibc World Markets Corp acquired a new position in shares of Upwork during the 4th quarter worth about $191,000. Finally, Ethic Inc. bought a new stake in shares of Upwork in the 4th quarter valued at about $229,000. Institutional investors and hedge funds own 77.71% of the company's stock.

Upwork Price Performance

Shares of UPWK opened at $13.45 on Tuesday. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 0.60. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14. The stock has a market capitalization of $1.77 billion, a P/E ratio of 8.05 and a beta of 1.38. The company has a 50 day moving average of $14.87 and a 200-day moving average of $14.83.

Upwork (NASDAQ:UPWK - Get Free Report) last released its earnings results 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. Upwork had a net margin of 30.46% and a return on equity of 48.38%. The business had revenue of $192.71 million during the quarter, compared to the consensus estimate of $188.49 million. During the same quarter last year, the firm earned $0.22 earnings per share. The firm's revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities research analysts forecast that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on UPWK shares. Citigroup restated an "outperform" rating on shares of Upwork in a report on Friday, May 16th. JMP Securities upped their price objective on shares of Upwork from $18.00 to $20.00 and gave the company a "market outperform" rating in a research report on Friday, May 16th. Scotiabank initiated coverage on Upwork in a research note on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 price objective on the stock. BTIG Research cut Upwork from a "buy" rating to a "neutral" rating in a research note on Friday, April 4th. Finally, Needham & Company LLC restated a "buy" rating and issued a $19.00 price target on shares of Upwork in a report on Tuesday, May 6th. Four investment 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's stock. Based on data from MarketBeat, Upwork has a consensus rating of "Moderate Buy" and an average price target of $18.67.

Insider Activity

In other Upwork news, insider Dave Bottoms sold 11,562 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $13.51, for a total transaction of $156,202.62. Following the sale, the insider directly owned 9,345 shares of the company's stock, valued at approximately $126,250.95. This represents a 55.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas Layton sold 250,000 shares of Upwork stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $17.47, for a total transaction of $4,367,500.00. Following the completion of the transaction, the director directly owned 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 545,454 shares of company stock worth $9,172,963. Corporate insiders own 7.60% 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.

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