Upwork Inc. (NASDAQ:UPWK) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC lessened its holdings in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 7.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 286,706 shares of the company's stock after selling 22,484 shares during the period. Penserra Capital Management LLC owned approximately 0.21% of Upwork worth $3,741,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Upwork by 1,235.1% during the first quarter. GAMMA Investing LLC now owns 4,072 shares of the company's stock worth $53,000 after acquiring an additional 3,767 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Upwork during the first quarter worth $140,000. Alhambra Investment Management LLC acquired a new position in Upwork during the first quarter worth $178,000. State of Tennessee Department of Treasury acquired a new position in Upwork during the fourth quarter worth $180,000. Finally, Cibc World Markets Corp acquired a new position in Upwork during the fourth quarter worth $191,000. Institutional investors and hedge funds own 77.71% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on UPWK shares. Needham & Company LLC reissued a "buy" rating and issued a $19.00 target price on shares of Upwork in a report on Tuesday, May 6th. BTIG Research lowered Upwork from a "buy" rating to a "neutral" rating in a report on Friday, April 4th. Scotiabank started coverage on Upwork in a report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 target price on the stock. Royal Bank Of Canada reissued a "sector perform" rating and issued a $18.00 target price on shares of Upwork in a report on Monday, June 2nd. Finally, JMP Securities upped their target price on Upwork from $18.00 to $20.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Four 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. According to MarketBeat, Upwork has a consensus rating of "Moderate Buy" and a consensus target price of $18.67.

Upwork Trading Up 0.4%

Shares of Upwork stock traded up $0.05 during trading hours on Tuesday, reaching $13.50. The stock had a trading volume of 1,710,514 shares, compared to its average volume of 2,311,248. The firm has a 50 day simple moving average of $14.87 and a two-hundred day simple moving average of $14.83. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 8.08 and a beta of 1.38. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.60. Upwork Inc. has a 1 year low of $8.43 and a 1 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 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. The company had revenue of $192.71 million for the quarter, compared to the consensus estimate of $188.49 million. Upwork had a return on equity of 48.38% and a net margin of 30.46%. The company's quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the business posted $0.22 EPS. As a group, equities research analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current year.

Insider Buying and Selling at Upwork

In related news, CFO Erica Gessert sold 9,267 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $13.51, for a total transaction of $125,197.17. Following the sale, the chief financial officer directly owned 190,738 shares in the company, valued at approximately $2,576,870.38. This trade represents a 4.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Dave Bottoms sold 11,562 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were 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 approximately $126,250.95. The trade was a 55.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 545,454 shares of company stock worth $9,172,963. 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.