Fund 1 Investments LLC Sells 42,641 Shares of Upwork Inc. (NASDAQ:UPWK)

Fund 1 Investments LLC lessened its stake in Upwork Inc. (NASDAQ:UPWK - Free Report) by 13.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 283,740 shares of the company's stock after selling 42,641 shares during the quarter. Fund 1 Investments LLC owned about 0.21% of Upwork worth $4,639,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in UPWK. Price T Rowe Associates Inc. MD boosted its holdings in Upwork by 51.8% in the fourth 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. boosted its holdings in 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 in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Upwork by 86.7% in 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 purchasing an additional 1,534,078 shares during the last quarter. Contour Asset Management LLC acquired a new stake in Upwork during the fourth quarter worth approximately $24,633,000. Finally, LSV Asset Management acquired a new stake in Upwork during the 4th quarter worth $18,838,000. Hedge funds and other institutional investors own 77.71% of the company's stock.

Upwork Stock Performance

Shares of UPWK traded down $0.24 during mid-day trading on Thursday, reaching $17.15. 1,052,051 shares of the company's stock traded hands, compared to its average volume of 2,241,929. 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 business's 50-day moving average price is $13.58 and its 200-day moving average price is $15.15. The stock has a market capitalization of $2.26 billion, a P/E ratio of 11.22 and a beta of 1.52. 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 released its earnings results on Monday, May 5th. The company reported $0.34 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 analysts' expectations of $188.49 million. Upwork had a net margin of 28.02% and a return on equity of 50.83%. Upwork's quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company earned $0.22 EPS. Equities analysts predict that Upwork Inc. will post 0.84 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JMP Securities reiterated a "market outperform" rating and set a $18.00 price target on shares of Upwork in a research note on Thursday, January 30th. UBS Group increased their target price on shares of Upwork from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Royal Bank of Canada restated a "sector perform" rating and issued a $18.00 price target on shares of Upwork in a research report on Tuesday, May 6th. BTIG Research downgraded Upwork from a "buy" rating to a "neutral" rating in a research note on Friday, April 4th. Finally, Citigroup lowered their target price on Upwork from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Upwork has a consensus rating of "Moderate Buy" and an average target price of $18.50.

Insider Buying and Selling at Upwork

In other Upwork news, CFO Erica Gessert sold 13,765 shares of Upwork stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total transaction of $222,304.75. Following the completion of the sale, the chief financial officer now owns 156,828 shares of the company's stock, valued at $2,532,772.20. This trade represents a 8.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Hayden Brown sold 21,122 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total value of $341,120.30. Following the completion of the transaction, the chief executive officer now directly owns 1,275,083 shares in the company, valued at approximately $20,592,590.45. The trade was a 1.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 313,108 shares of company stock valued at $5,071,048 in the last three months. 7.50% of the stock is currently owned by company insiders.

Upwork 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.