Campbell & CO Investment Adviser LLC Invests $1.82 Million in Upwork Inc. $UPWK

Key Points

• Campbell & CO Investment Adviser LLC invested approximately $1.82 million in Upwork Inc., acquiring 139,130 shares, which now represents 0.11% of the company's stock.
• Insider trading activity included CEO Hayden Brown selling 25,577 shares for about $354,000, reducing his ownership stake by 2.24%.
• Upwork recently reported earnings of $0.35 per share, exceeding analysts' expectations, with quarterly revenue of $194.94 million, showing a 0.9% year-over-year increase.

Campbell & CO Investment Adviser LLC purchased a new position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 139,130 shares of the company's stock, valued at approximately $1,816,000. Campbell & CO Investment Adviser LLC owned 0.11% of Upwork as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mesirow Financial Investment Management Inc. grew its stake in Upwork by 5.7% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 27,228 shares of the company's stock valued at $347,000 after acquiring an additional 1,465 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Upwork by 3.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 67,716 shares of the company's stock valued at $1,107,000 after acquiring an additional 2,148 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Upwork by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,867 shares of the company's stock valued at $1,159,000 after acquiring an additional 2,695 shares during the last quarter. Wells Fargo & Company MN grew its stake in Upwork by 5.7% in the 4th quarter. Wells Fargo & Company MN now owns 65,775 shares of the company's stock valued at $1,075,000 after acquiring an additional 3,543 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in Upwork by 5.1% in the 4th quarter. MetLife Investment Management LLC now owns 75,934 shares of the company's stock valued at $1,242,000 after acquiring an additional 3,692 shares during the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Upwork

In other news, CEO Hayden Brown sold 25,577 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $13.84, for a total transaction of $353,985.68. Following the completion of the sale, the chief executive officer owned 1,118,291 shares of the company's stock, valued at approximately $15,477,147.44. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Olivier Marie sold 1,879 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $13.50, for a total transaction of $25,366.50. Following the sale, the chief accounting officer directly owned 4,632 shares of the company's stock, valued at $62,532. The trade was a 28.86% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 169,442 shares of company stock valued at $2,337,303. 7.50% of the stock is currently owned by corporate insiders.

Upwork Trading Down 0.1%

UPWK opened at $14.91 on Tuesday. The firm has a market capitalization of $1.98 billion, a P/E ratio of 8.57 and a beta of 1.38. The firm's 50 day moving average is $13.35 and its 200-day moving average is $14.11. Upwork Inc. has a 52-week low of $8.90 and a 52-week high of $18.14. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 0.59.

Upwork (NASDAQ:UPWK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.09. The company had revenue of $194.94 million for the quarter, compared to analyst estimates of $187.56 million. Upwork had a net margin of 31.75% and a return on equity of 44.83%. The business's quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. Analysts expect that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

UPWK has been the topic of a number of research reports. Citigroup reissued an "outperform" rating on shares of Upwork in a research note on Friday, May 16th. Wall Street Zen cut shares of Upwork from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. JMP Securities raised their price target on shares of Upwork from $18.00 to $20.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $18.00 price target on shares of Upwork in a research note on Monday, June 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price target on shares of Upwork in a research note on Tuesday, May 6th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.