Upwork Inc. (NASDAQ:UPWK) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP grew its position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 40.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,488,500 shares of the company's stock after acquiring an additional 426,100 shares during the quarter. Two Sigma Advisers LP owned about 1.11% of Upwork worth $24,337,000 as of its most recent filing with the SEC.

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

Upwork Price Performance

Shares of UPWK stock opened at $16.46 on Wednesday. The stock's fifty day simple moving average is $13.87 and its 200 day simple moving average is $15.25. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 10.76 and a beta of 1.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39.

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

Insider Buying and Selling

In other Upwork news, insider Dave Bottoms sold 5,411 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $70,721.77. Following the transaction, the insider now directly owns 9,593 shares in the company, valued at approximately $125,380.51. This represents a 36.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Olivier Marie sold 3,105 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $17.14, for a total transaction of $53,219.70. Following the completion of the transaction, the chief accounting officer now directly owns 1,294 shares in the company, valued at $22,179.16. This trade represents a 70.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 563,593 shares of company stock worth $9,424,837 in the last quarter. Insiders own 7.50% of the company's stock.

Analyst Upgrades and Downgrades

UPWK has been the subject of a number of analyst reports. UBS Group boosted their price target on Upwork from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. JMP Securities upped their price objective on shares of Upwork from $18.00 to $20.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Royal Bank of Canada reissued a "sector perform" rating and set a $18.00 target price on shares of Upwork in a research note on Tuesday, May 6th. Needham & Company LLC restated a "buy" rating and set a $19.00 price target on shares of Upwork in a research report on Tuesday, May 6th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Upwork in a research note on Friday. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $18.67.

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.

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