Jefferies Financial Group Inc. cut its holdings in Upwork Inc. (NASDAQ:UPWK - Free Report) by 98.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,184 shares of the company's stock after selling 1,202,816 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Upwork were worth $363,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Upwork in the 4th quarter valued at $806,000. Bayesian Capital Management LP acquired a new position in shares of Upwork in the 4th quarter valued at $1,019,000. Dorsey Asset Management LLC grew its holdings in shares of Upwork by 15.0% in the 4th quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company's stock valued at $49,788,000 after buying an additional 397,997 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Upwork in the 4th quarter valued at $419,000. Finally, Rhumbline Advisers lifted its position in Upwork by 1.4% in the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company's stock valued at $2,914,000 after acquiring an additional 2,387 shares in the last quarter. 77.71% of the stock is owned by institutional investors.
Insider Transactions at Upwork
In other news, CAO Olivier Marie sold 1,655 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $16.41, for a total value of $27,158.55. Following the completion of the sale, the chief accounting officer now directly owns 1,294 shares of the company's stock, valued at $21,234.54. This represents a 56.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dave Bottoms sold 1,620 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $16.41, for a total value of $26,584.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 566,868 shares of company stock valued at $9,478,580. Corporate insiders own 7.50% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on UPWK. Citigroup reiterated an "outperform" rating on shares of Upwork in a research note on Friday, May 16th. Roth Mkm decreased their target price on shares of Upwork from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $19.00 price objective on shares of Upwork in a report on Tuesday, May 6th. Scotiabank began coverage on Upwork in a report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price objective for the company. Finally, UBS Group lifted their price objective on Upwork from $18.00 to $19.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.67.
Check Out Our Latest Stock Report on UPWK
Upwork Price Performance
Shares of Upwork stock traded down $0.47 during trading on Friday, reaching $15.75. 1,395,914 shares of the company's stock were exchanged, compared to its average volume of 2,259,339. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14. The company has a market cap of $2.07 billion, a P/E ratio of 10.29 and a beta of 1.52. The firm's 50-day moving average price is $14.05 and its 200 day moving average price is $15.29.
Upwork (NASDAQ:UPWK - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The company had revenue of $192.71 million during the quarter, compared to analysts' expectations of $188.49 million. During the same quarter in the previous year, the firm earned $0.22 EPS. Upwork's revenue was up .9% on a year-over-year basis. As a group, research analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current year.
About Upwork
(
Free Report)
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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