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OneDigital Investment Advisors LLC Decreases Stake in Upwork Inc. (NASDAQ:UPWK)

Upwork logo with Computer and Technology background

OneDigital Investment Advisors LLC trimmed its position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,937 shares of the company's stock after selling 36,570 shares during the quarter. OneDigital Investment Advisors LLC owned approximately 0.21% of Upwork worth $3,627,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in Upwork by 9.3% during the fourth quarter. Bank of New York Mellon Corp now owns 413,248 shares of the company's stock worth $6,757,000 after acquiring an additional 35,074 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Upwork in the 4th quarter worth about $84,000. Charles Schwab Investment Management Inc. increased its stake in Upwork by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,075,946 shares of the company's stock worth $17,592,000 after buying an additional 64,438 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Upwork during the fourth quarter valued at approximately $812,000. Finally, Inceptionr LLC purchased a new position in shares of Upwork in the fourth quarter valued at approximately $456,000. 77.71% of the stock is owned by hedge funds and other institutional investors.

Upwork Stock Performance

Shares of UPWK stock traded down $0.19 during mid-day trading on Monday, hitting $13.45. 2,112,921 shares of the stock were exchanged, compared to its average volume of 2,313,649. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.41 and a current ratio of 3.41. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 8.05 and a beta of 1.38. The stock's fifty day simple moving average is $14.87 and its two-hundred day simple moving average is $14.83. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14.

Upwork (NASDAQ:UPWK - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.09. The company had revenue of $192.71 million for the quarter, compared to analysts' expectations of $188.49 million. Upwork had a return on equity of 48.38% and a net margin of 30.46%. The firm's quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. On average, analysts forecast that Upwork Inc. will post 0.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on UPWK shares. Citigroup restated an "outperform" rating on shares of Upwork in a research report on Friday, May 16th. Wall Street Zen upgraded Upwork from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Jefferies Financial Group cut their price objective on shares of Upwork from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Scotiabank assumed coverage on shares of Upwork in a report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price objective on the stock. Finally, JMP Securities raised their price target on Upwork from $18.00 to $20.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.67.

Check Out Our Latest Stock Analysis on UPWK

Insider Activity

In other Upwork news, CEO Hayden Brown sold 23,716 shares of Upwork stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $13.51, for a total value of $320,403.16. Following the completion of the sale, the chief executive officer directly owned 1,153,485 shares of the company's stock, valued at approximately $15,583,582.35. The trade was a 2.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dave Bottoms sold 11,562 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $13.51, for a total value of $156,202.62. Following the sale, the insider owned 9,345 shares in the company, valued at $126,250.95. This trade represents a 55.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 545,454 shares of company stock worth $9,172,963 in the last quarter. 7.60% of the stock is currently owned by corporate insiders.

Upwork Company Profile

(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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Institutional Ownership by Quarter for Upwork (NASDAQ:UPWK)

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