Upwork Inc. $UPWK Shares Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its stake in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 21.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 171,878 shares of the company's stock after acquiring an additional 29,805 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.13% of Upwork worth $2,310,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UPWK. GAMMA Investing LLC lifted its position in Upwork by 1,235.1% during the 1st quarter. GAMMA Investing LLC now owns 4,072 shares of the company's stock worth $53,000 after acquiring an additional 3,767 shares in the last quarter. Rhumbline Advisers lifted its position in Upwork by 2.5% during the 1st quarter. Rhumbline Advisers now owns 182,660 shares of the company's stock worth $2,384,000 after acquiring an additional 4,458 shares in the last quarter. Alhambra Investment Management LLC acquired a new position in Upwork during the 1st quarter worth approximately $178,000. New Century Financial Group LLC acquired a new position in Upwork during the 1st quarter worth approximately $886,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Upwork by 174.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 54,365 shares of the company's stock worth $709,000 after acquiring an additional 34,534 shares in the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Upwork

In related news, CFO Erica Gessert sold 19,036 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $13.84, for a total transaction of $263,458.24. Following the completion of the transaction, the chief financial officer owned 209,202 shares in the company, valued at $2,895,355.68. The trade was a 8.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hayden Brown sold 60,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $13.76, for a total value of $825,600.00. Following the transaction, the chief executive officer owned 1,093,485 shares of the company's stock, valued at $15,046,353.60. This represents a 5.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 222,576 shares of company stock worth $3,670,318 in the last 90 days. 7.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

UPWK has been the topic of several recent research reports. Citigroup reissued an "outperform" rating on shares of Upwork in a research report on Wednesday, September 24th. UBS Group lifted their price objective on Upwork from $16.00 to $21.00 and gave the stock a "neutral" rating in a report on Tuesday, September 23rd. Wall Street Zen upgraded Upwork from a "hold" rating to a "buy" rating in a report on Sunday, September 28th. Weiss Ratings restated a "hold (c+)" rating on shares of Upwork in a report on Saturday, September 27th. Finally, JMP Securities lifted their price objective on Upwork from $20.00 to $27.00 and gave the stock a "market outperform" rating in a report on Wednesday, September 24th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $19.42.

Upwork Price Performance

Shares of NASDAQ UPWK opened at $17.09 on Wednesday. Upwork Inc. has a twelve month low of $9.93 and a twelve month high of $20.54. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 9.82 and a beta of 1.54. The business has a 50 day simple moving average of $15.80 and a 200-day simple moving average of $14.64.

Upwork (NASDAQ:UPWK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.09. Upwork had a return on equity of 44.83% and a net margin of 31.75%.The business had revenue of $194.94 million during the quarter, compared to the consensus estimate of $187.56 million. During the same period in the previous year, the business earned $0.26 EPS. The business's quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts expect that Upwork Inc. will post 0.84 earnings per share for the current year.

Upwork declared that its board has initiated a share buyback plan on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

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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