Price T Rowe Associates Inc. MD Grows Position in Upwork Inc. (NASDAQ:UPWK)

Price T Rowe Associates Inc. MD lifted its holdings in Upwork Inc. (NASDAQ:UPWK - Free Report) by 51.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,498,688 shares of the company's stock after acquiring an additional 5,289,493 shares during the period. Price T Rowe Associates Inc. MD owned approximately 11.59% of Upwork worth $253,405,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Stifel Financial Corp boosted its holdings in shares of Upwork by 142.6% in the 4th quarter. Stifel Financial Corp now owns 513,305 shares of the company's stock valued at $8,393,000 after purchasing an additional 301,736 shares in the last quarter. State of Tennessee Department of Treasury acquired a new stake in Upwork in the fourth quarter valued at $180,000. OneDigital Investment Advisors LLC lifted its stake in shares of Upwork by 70.4% in the fourth quarter. OneDigital Investment Advisors LLC now owns 314,507 shares of the company's stock worth $5,142,000 after acquiring an additional 129,923 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Upwork by 5.1% in the 4th quarter. MetLife Investment Management LLC now owns 75,934 shares of the company's stock valued at $1,242,000 after purchasing an additional 3,692 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Upwork by 9.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,951,630 shares of the company's stock valued at $31,911,000 after acquiring an additional 161,661 shares during the last quarter. Institutional investors and hedge funds own 77.71% of the company's stock.

Upwork Trading Up 1.2 %

Upwork stock traded up $0.16 during midday trading on Thursday, reaching $13.31. The stock had a trading volume of 435,340 shares, compared to its average volume of 2,227,773. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14. The company has a fifty day moving average of $13.45 and a 200 day moving average of $14.82. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 8.71 and a beta of 1.60. 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 announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. On average, analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Insider Activity at Upwork

In other Upwork news, CEO Hayden Brown sold 21,122 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total transaction of $341,120.30. Following the transaction, the chief executive officer now owns 1,275,083 shares of the company's stock, valued at approximately $20,592,590.45. This trade represents a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Erica Gessert sold 4,316 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total transaction of $56,410.12. Following the transaction, the chief financial officer now directly owns 160,945 shares in the company, valued at $2,103,551.15. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 193,108 shares of company stock worth $3,046,648. Company insiders own 7.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on UPWK. Roth Mkm cut their price objective on shares of Upwork from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. BTIG Research downgraded Upwork from a "buy" rating to a "neutral" rating in a research note on Friday, April 4th. Needham & Company LLC lifted their price objective on shares of Upwork from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Scotiabank began coverage on Upwork in a report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price objective for the company. Finally, Royal Bank of Canada lifted their price target on Upwork from $16.00 to $18.00 and gave the company a "sector perform" rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.58.

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.