Tidal Investments LLC Makes New $669,000 Investment in Upwork Inc. (NASDAQ:UPWK)

Tidal Investments LLC bought a new stake in Upwork Inc. (NASDAQ:UPWK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 40,935 shares of the company's stock, valued at approximately $669,000.

Other institutional investors have also made changes to their positions in the company. Nkcfo LLC bought a new stake in Upwork during the 4th quarter worth approximately $82,000. SBI Securities Co. Ltd. bought a new position in shares of Upwork in the 4th quarter worth $84,000. KBC Group NV lifted its stake in shares of Upwork by 39.6% in the fourth quarter. KBC Group NV now owns 6,690 shares of the company's stock valued at $109,000 after buying an additional 1,899 shares in the last quarter. State of Tennessee Department of Treasury acquired a new position in Upwork during the 4th quarter valued at about $180,000. Finally, Cibc World Markets Corp purchased a new position in Upwork during the 4th quarter worth $191,000. 77.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on UPWK shares. Needham & Company LLC restated a "buy" rating and set a $19.00 price objective on shares of Upwork in a report on Tuesday, May 6th. Wall Street Zen raised shares of Upwork from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. UBS Group lifted their target price on shares of Upwork from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. JMP Securities boosted their target price on Upwork from $18.00 to $20.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. Finally, Scotiabank started coverage on Upwork in a research note on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 price objective on the stock. Four 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.67.

Insider Transactions at Upwork

In other news, 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 sale, the chief executive officer now owns 1,215,083 shares in the company, valued at $17,254,178.60. This represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Layton sold 250,000 shares of the firm's stock in a transaction on 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 transaction, the director now directly owns 1,867,769 shares of the company's stock, valued at approximately $32,629,924.43. This trade represents a 11.80% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 566,868 shares of company stock worth $9,478,580. Company insiders own 7.50% of the company's stock.

Upwork Stock Down 1.0%

UPWK stock traded down $0.15 during trading on Friday, reaching $15.46. 1,682,035 shares of the company traded hands, compared to its average volume of 2,249,685. The business has a 50 day simple moving average of $14.25 and a 200 day simple moving average of $15.29. 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 12 month low of $8.43 and a 12 month high of $18.14. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 10.10 and a beta of 1.52.

Upwork (NASDAQ:UPWK - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.09. The firm had revenue of $192.71 million for the quarter, compared to the consensus estimate of $188.49 million. Upwork had a net margin of 28.02% and a return on equity of 50.83%. The company's revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 earnings per share. On average, equities research analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

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.