BNP Paribas Financial Markets Sells 25,403 Shares of Upwork Inc. (NASDAQ:UPWK)

BNP Paribas Financial Markets trimmed its position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 226,311 shares of the company's stock after selling 25,403 shares during the period. BNP Paribas Financial Markets owned 0.17% of Upwork worth $3,700,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wedmont Private Capital bought a new stake in Upwork during the fourth quarter worth about $544,000. Financial Management Professionals Inc. acquired a new stake in Upwork during the 4th quarter valued at approximately $97,000. KBC Group NV grew its position in shares of Upwork by 39.6% during the 4th quarter. KBC Group NV now owns 6,690 shares of the company's stock worth $109,000 after buying an additional 1,899 shares during the period. Stoneridge Investment Partners LLC grew its position in shares of Upwork by 19.9% during the 4th quarter. Stoneridge Investment Partners LLC now owns 16,566 shares of the company's stock worth $271,000 after buying an additional 2,744 shares during the period. Finally, Bristlecone Advisors LLC grew its position in shares of Upwork by 54.9% during the 4th quarter. Bristlecone Advisors LLC now owns 65,113 shares of the company's stock worth $1,065,000 after buying an additional 23,090 shares during the period. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on UPWK shares. Jefferies Financial Group dropped their price objective on Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Scotiabank assumed 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. JMP Securities increased their price objective on Upwork from $18.00 to $20.00 and gave the company a "market outperform" rating in a research report on Friday. Roth Mkm lowered their price objective on Upwork from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $18.00 target price on shares of Upwork in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $18.67.

Upwork Price Performance

NASDAQ:UPWK traded down $0.36 during trading hours on Tuesday, reaching $16.19. 322,037 shares of the company traded hands, compared to its average volume of 2,251,663. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14. The firm's 50-day moving average is $13.78 and its 200-day moving average is $15.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. The stock has a market cap of $2.13 billion, a P/E ratio of 10.57 and a beta of 1.52.

Upwork (NASDAQ:UPWK - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.25 by $0.09. The company had revenue of $192.71 million for the quarter, compared to analyst estimates of $188.49 million. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The firm's revenue was up .9% compared to the same quarter last year. During the same period last year, the company posted $0.22 earnings per share. Equities research analysts expect that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Upwork

In related news, insider Dave Bottoms sold 5,411 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 9,593 shares in the company, valued at approximately $125,380.51. This represents a 36.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Elizabeth A. Nelson sold 75,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $17.58, for a total transaction of $1,318,500.00. Following the transaction, the director now owns 16,299 shares of the company's stock, valued at approximately $286,536.42. This represents a 82.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 638,593 shares of company stock worth $10,743,337 over the last ninety days. Company insiders own 7.50% of the company's stock.

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.