Baillie Gifford & Co. decreased its stake in Upwork Inc. (NASDAQ:UPWK - Free Report) by 11.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,611,210 shares of the company's stock after selling 597,312 shares during the quarter. Baillie Gifford & Co. owned 3.39% of Upwork worth $68,569,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of Upwork by 575.3% in the 1st quarter. Russell Investments Group Ltd. now owns 2,600 shares of the company's stock valued at $29,000 after purchasing an additional 2,215 shares during the period. Quarry LP boosted its position in Upwork by 92.5% during the 1st quarter. Quarry LP now owns 3,486 shares of the company's stock worth $39,000 after acquiring an additional 1,675 shares during the period. CWM LLC boosted its position in Upwork by 107.1% during the 3rd quarter. CWM LLC now owns 4,323 shares of the company's stock worth $49,000 after acquiring an additional 2,236 shares during the period. UBS Group AG boosted its position in Upwork by 30.7% during the 3rd quarter. UBS Group AG now owns 4,634 shares of the company's stock worth $63,000 after acquiring an additional 1,089 shares during the period. Finally, Harbour Investments Inc. acquired a new stake in Upwork during the 1st quarter worth about $65,000. Institutional investors and hedge funds own 77.71% of the company's stock.
Upwork Price Performance
Shares of Upwork stock traded down $0.23 during mid-day trading on Wednesday, reaching $11.87. 1,962,344 shares of the stock were exchanged, compared to its average volume of 2,033,506. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 169.60 and a beta of 1.67. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.93. The firm has a 50-day simple moving average of $12.94 and a 200 day simple moving average of $13.15. Upwork Inc. has a fifty-two week low of $6.56 and a fifty-two week high of $16.36.
Upwork (NASDAQ:UPWK - Get Free Report) last announced its earnings results on Wednesday, February 14th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. The business had revenue of $183.93 million during the quarter, compared to analysts' expectations of $178.43 million. Upwork had a net margin of 6.80% and a return on equity of 14.21%. On average, sell-side analysts predict that Upwork Inc. will post 0.42 EPS for the current fiscal year.
Analyst Ratings Changes
Several analysts have commented on UPWK shares. JMP Securities boosted their target price on shares of Upwork from $16.00 to $17.00 and gave the stock a "market outperform" rating in a research report on Thursday, February 15th. Jefferies Financial Group upgraded shares of Upwork from a "hold" rating to a "buy" rating and increased their price target for the stock from $13.00 to $20.00 in a research note on Monday, January 8th. Royal Bank of Canada raised their target price on shares of Upwork from $17.00 to $18.00 and gave the company a "sector perform" rating in a research note on Thursday, February 15th. TheStreet upgraded shares of Upwork from a "d+" rating to a "c-" rating in a research note on Wednesday, December 27th. Finally, Needham & Company LLC raised their target price on shares of Upwork from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $16.55.
View Our Latest Stock Analysis on UPWK
Insider Buying and Selling at Upwork
In other Upwork news, CEO Hayden Brown sold 43,714 shares of the firm's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.86, for a total value of $562,162.04. Following the completion of the sale, the chief executive officer now owns 1,165,980 shares in the company, valued at approximately $14,994,502.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 67,567 shares of company stock worth $853,087. 9.00% of the stock is currently owned by corporate insiders.
Upwork Profile
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Free Report)
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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