Grandeur Peak Global Advisors LLC Buys Shares of 224,182 Upwork Inc. (NASDAQ:UPWK)

Grandeur Peak Global Advisors LLC purchased a new position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 224,182 shares of the company's stock, valued at approximately $3,665,000. Grandeur Peak Global Advisors LLC owned about 0.17% of Upwork at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of UPWK. Janus Henderson Group PLC raised its holdings in Upwork by 34.6% in the third quarter. Janus Henderson Group PLC now owns 68,070 shares of the company's stock valued at $712,000 after buying an additional 17,482 shares during the period. Stifel Financial Corp lifted its holdings in shares of Upwork by 228.0% during the 3rd quarter. Stifel Financial Corp now owns 211,569 shares of the company's stock valued at $2,211,000 after acquiring an additional 147,059 shares in the last quarter. XTX Topco Ltd boosted its position in Upwork by 198.6% during the 3rd quarter. XTX Topco Ltd now owns 60,509 shares of the company's stock worth $632,000 after purchasing an additional 40,242 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Upwork in the 3rd quarter valued at $355,000. Finally, SkyView Investment Advisors LLC lifted its stake in shares of Upwork by 13.9% during the third quarter. SkyView Investment Advisors LLC now owns 226,375 shares of the company's stock worth $2,366,000 after purchasing an additional 27,639 shares in the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UPWK has been the topic of several analyst reports. Scotiabank started coverage on Upwork in a report on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 target price on the stock. BTIG Research lowered shares of Upwork from a "buy" rating to a "neutral" rating in a research note on Friday, April 4th. Needham & Company LLC raised their price target on shares of Upwork from $17.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Royal Bank of Canada boosted their price objective on shares of Upwork from $16.00 to $18.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. Finally, UBS Group raised their price objective on Upwork from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $18.58.

Upwork Price Performance

NASDAQ UPWK traded up $0.19 on Thursday, reaching $12.85. 618,097 shares of the stock traded hands, compared to its average volume of 2,240,254. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $18.14. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 8.38 and a beta of 1.60. The firm's fifty day simple moving average is $14.07 and its 200 day simple moving average is $14.63. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62.

Upwork (NASDAQ:UPWK - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. As a group, research analysts predict that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other Upwork news, insider Dave Bottoms sold 5,411 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total value of $70,721.77. Following the completion of the transaction, the insider now directly owns 9,593 shares in the company, valued at $125,380.51. This trade represents a 36.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Hayden Brown sold 21,122 shares of Upwork stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total transaction 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. This trade represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,365 shares of company stock worth $3,050,760. 7.60% of the stock is owned by 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.