PharVision Advisers LLC Makes New $345,000 Investment in Upwork Inc. (NASDAQ:UPWK)

PharVision Advisers LLC bought a new stake in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 21,074 shares of the company's stock, valued at approximately $345,000.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Upwork by 51.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company's stock worth $253,405,000 after buying an additional 5,289,493 shares in the last quarter. Invesco Ltd. boosted its position in Upwork by 1,674.0% during the fourth quarter. Invesco Ltd. now owns 1,748,320 shares of the company's stock worth $28,585,000 after acquiring an additional 1,649,766 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Upwork by 86.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company's stock worth $54,005,000 after acquiring an additional 1,534,078 shares during the period. Contour Asset Management LLC purchased a new stake in Upwork in the 4th quarter worth approximately $24,633,000. Finally, LSV Asset Management acquired a new position in Upwork in the 4th quarter valued at $18,838,000. Hedge funds and other institutional investors own 77.71% of the company's stock.

Upwork Trading Up 1.0%

NASDAQ:UPWK traded up $0.16 on Tuesday, hitting $15.91. 333,539 shares of the stock were exchanged, compared to its average volume of 2,254,851. The stock has a fifty day moving average of $14.10 and a 200-day moving average of $15.29. The stock has a market cap of $2.09 billion, a PE ratio of 10.42 and a beta of 1.52. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14.

Upwork (NASDAQ:UPWK - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. The business had revenue of $192.71 million during the quarter, compared to analysts' expectations of $188.49 million. Upwork had a return on equity of 50.83% and a net margin of 28.02%. During the same quarter in the previous year, the business earned $0.22 EPS. The company's revenue for the quarter was up .9% on a year-over-year basis. As a group, equities analysts expect that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Thomas Layton sold 250,000 shares of Upwork stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $17.47, for a total transaction of $4,367,500.00. Following the transaction, the director now owns 1,867,769 shares in the company, valued at approximately $32,629,924.43. The trade was a 11.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hayden Brown sold 60,000 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $14.20, for a total value of $852,000.00. Following the completion of the sale, the chief executive officer now owns 1,215,083 shares of the company's stock, valued at approximately $17,254,178.60. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 566,868 shares of company stock worth $9,478,580 over the last ninety days. 7.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada restated a "sector perform" rating and set a $18.00 price objective on shares of Upwork in a report on Tuesday, May 6th. Wall Street Zen upgraded Upwork from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Citigroup reissued an "outperform" rating on shares of Upwork in a research note on Friday, May 16th. Scotiabank assumed coverage on Upwork in a report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price target for the company. Finally, UBS Group upped their price objective on shares of Upwork from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.