UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Position in Upwork Inc. (NASDAQ:UPWK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Upwork Inc. (NASDAQ:UPWK - Free Report) by 60.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 307,302 shares of the company's stock after selling 462,440 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.23% of Upwork worth $5,024,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in UPWK. KBC Group NV increased its holdings in shares of Upwork by 39.6% during the fourth quarter. KBC Group NV now owns 6,690 shares of the company's stock valued at $109,000 after acquiring an additional 1,899 shares in the last quarter. Stoneridge Investment Partners LLC increased its holdings in shares of Upwork by 19.9% during the fourth quarter. Stoneridge Investment Partners LLC now owns 16,566 shares of the company's stock valued at $271,000 after acquiring an additional 2,744 shares in the last quarter. Bristlecone Advisors LLC increased its holdings in shares of Upwork by 54.9% during the fourth quarter. Bristlecone Advisors LLC now owns 65,113 shares of the company's stock valued at $1,065,000 after acquiring an additional 23,090 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Upwork by 1.4% during the fourth 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. Finally, Nkcfo LLC bought a new stake in shares of Upwork during the fourth quarter valued at approximately $82,000. 77.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on UPWK. Scotiabank began coverage on Upwork in a report on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 price objective for the company. Citigroup restated an "outperform" rating on shares of Upwork in a report on Friday, May 16th. Roth Mkm decreased their price objective on Upwork from $20.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, February 13th. 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. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $18.00 price target on shares of Upwork in a report on Monday. 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's stock. Based on data from MarketBeat, Upwork currently has an average rating of "Moderate Buy" and an average target price of $18.67.

Upwork Stock Performance

NASDAQ:UPWK traded down $0.16 during trading on Thursday, reaching $15.09. The company's stock had a trading volume of 1,516,506 shares, compared to its average volume of 2,251,597. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 9.86 and a beta of 1.44. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The firm has a 50 day moving average of $14.36 and a 200-day moving average of $15.29. 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 announced its quarterly earnings data on Monday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.09. The firm had revenue of $192.71 million during the quarter, compared to the consensus estimate of $188.49 million. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The business's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 EPS. Research analysts expect that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling at Upwork

In other news, CAO Olivier Marie sold 3,105 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $17.14, for a total transaction of $53,219.70. Following the transaction, the chief accounting officer now owns 1,294 shares of the company's stock, valued at $22,179.16. This represents a 70.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dave Bottoms sold 1,620 shares of the company's stock in a transaction 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. Insiders sold 566,868 shares of company stock worth $9,478,580 in the last quarter. 7.60% of the stock is currently owned by company insiders.

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.