Two Sigma Advisers LP Boosts Stake in Upwork Inc. (NASDAQ:UPWK)

Two Sigma Advisers LP grew its position in Upwork Inc. (NASDAQ:UPWK - Free Report) by 40.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,488,500 shares of the company's stock after purchasing an additional 426,100 shares during the quarter. Two Sigma Advisers LP owned approximately 1.11% of Upwork worth $24,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nkcfo LLC bought a new position in Upwork in the 4th quarter worth $82,000. SBI Securities Co. Ltd. purchased a new position in shares of Upwork in the fourth quarter valued at about $84,000. KBC Group NV lifted its position 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 acquiring an additional 1,899 shares in the last quarter. State of Tennessee Department of Treasury bought a new position in shares of Upwork in the fourth quarter worth about $180,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Upwork during the fourth quarter worth about $191,000. 77.71% of the stock is owned by hedge funds and other institutional investors.

Upwork Trading Down 2.9%

UPWK stock traded down $0.47 during midday trading on Monday, reaching $15.75. 1,395,914 shares of the company traded hands, compared to its average volume of 2,262,426. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 10.29 and a beta of 1.52. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14. The business has a 50 day moving average of $14.05 and a 200-day 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 (NASDAQ:UPWK - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.09. The company had revenue of $192.71 million for the quarter, compared to analyst estimates of $188.49 million. Upwork had a return on equity of 50.83% and a net margin of 28.02%. Upwork's quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. As a group, sell-side analysts expect that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on UPWK shares. Citigroup reissued an "outperform" rating on shares of Upwork in a report on Friday, May 16th. UBS Group raised their target price 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. BTIG Research downgraded shares of Upwork from a "buy" rating to a "neutral" rating in a report on Friday, April 4th. Roth Mkm reduced their target price on Upwork from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Jefferies Financial Group decreased their target price on Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Four equities research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.67.

Insider Transactions at Upwork

In other news, CAO Olivier Marie sold 1,655 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $16.41, for a total transaction of $27,158.55. Following the transaction, the chief accounting officer now owns 1,294 shares of the company's stock, valued at approximately $21,234.54. This represents a 56.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Dave Bottoms sold 5,411 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total value of $70,721.77. Following the completion of the sale, the insider now owns 9,593 shares in the company, valued at approximately $125,380.51. The trade was a 36.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 566,868 shares of company stock worth $9,478,580. 7.50% of the stock is currently owned by insiders.

About Upwork

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.