Deutsche Bank AG Reduces Holdings in Upwork Inc. (NASDAQ:UPWK)

Deutsche Bank AG cut its stake in Upwork Inc. (NASDAQ:UPWK - Free Report) by 44.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 226,373 shares of the company's stock after selling 180,831 shares during the quarter. Deutsche Bank AG owned about 0.17% of Upwork worth $3,701,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of UPWK. KBC Group NV lifted its position in 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 buying an additional 1,899 shares during the last quarter. Stoneridge Investment Partners LLC increased its stake in Upwork by 19.9% in the fourth quarter. Stoneridge Investment Partners LLC now owns 16,566 shares of the company's stock worth $271,000 after purchasing an additional 2,744 shares during the period. Bristlecone Advisors LLC increased its stake in Upwork by 54.9% in the fourth quarter. Bristlecone Advisors LLC now owns 65,113 shares of the company's stock worth $1,065,000 after purchasing an additional 23,090 shares during the period. Rhumbline Advisers increased its stake in Upwork by 1.4% in the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company's stock worth $2,914,000 after purchasing an additional 2,387 shares during the period. Finally, Nkcfo LLC purchased a new stake in Upwork in the fourth quarter worth $82,000. 77.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on UPWK shares. JMP Securities increased their target price on Upwork from $18.00 to $20.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. BTIG Research lowered Upwork from a "buy" rating to a "neutral" rating in a research note on Friday, April 4th. Roth Mkm reduced their target price on Upwork from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group reduced their target price on Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, UBS Group increased their target price on Upwork from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.67.

Upwork Stock Down 2.9%

Shares of UPWK stock traded down $0.47 on Monday, hitting $15.75. The stock had a trading volume of 1,395,914 shares, compared to its average volume of 2,262,426. 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 business has a 50 day moving average price of $14.10 and a 200 day moving average price of $15.29. The company has a market cap of $2.07 billion, a PE ratio of 10.29 and a beta of 1.52. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14.

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 the consensus estimate of $0.25 by $0.09. The firm had revenue of $192.71 million during the quarter, compared to the consensus estimate of $188.49 million. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The firm's quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. Research analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Insider Activity at Upwork

In other Upwork news, insider Dave Bottoms sold 1,620 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $16.41, for a total value of $26,584.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Layton sold 250,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the director now owns 1,867,769 shares of the company's stock, valued at $32,629,924.43. This represents a 11.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 566,868 shares of company stock worth $9,478,580 over the last three months. 7.50% of the stock is owned by corporate insiders.

Upwork 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.