Northern Trust Corp Has $19.53 Million Position in Upwork Inc. (NASDAQ:UPWK)

Northern Trust Corp lifted its stake in Upwork Inc. (NASDAQ:UPWK - Free Report) by 5.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,194,223 shares of the company's stock after acquiring an additional 60,779 shares during the period. Northern Trust Corp owned 0.89% of Upwork worth $19,526,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. KBC Group NV increased its position in Upwork by 39.6% in 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. The Manufacturers Life Insurance Company increased its position in Upwork by 3.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 67,716 shares of the company's stock worth $1,107,000 after buying an additional 2,148 shares during the period. Rhumbline Advisers increased its position in Upwork by 1.4% in the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company's stock worth $2,914,000 after buying an additional 2,387 shares during the period. King Luther Capital Management Corp increased its position in Upwork by 1.0% in the 4th quarter. King Luther Capital Management Corp now owns 263,802 shares of the company's stock worth $4,313,000 after buying an additional 2,636 shares during the period. Finally, Hillsdale Investment Management Inc. increased its position in Upwork by 0.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 349,800 shares of the company's stock worth $5,719,000 after buying an additional 2,700 shares during the period. 77.71% of the stock is owned by institutional investors.

Upwork Price Performance

UPWK stock traded up $0.15 during trading on Friday, hitting $17.24. The company had a trading volume of 2,161,209 shares, compared to its average volume of 2,253,228. The company has a fifty day moving average price of $13.72 and a two-hundred day moving average price of $15.21. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. The company has a market cap of $2.27 billion, a P/E ratio of 11.27 and a beta of 1.52. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14.

Upwork (NASDAQ:UPWK - Get Free Report) last announced its quarterly 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 business 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%. Upwork's quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 EPS. Equities research analysts expect that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on UPWK. UBS Group lifted their price target on Upwork from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Jefferies Financial Group dropped their price target on Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Citigroup lowered their price objective on Upwork from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. BTIG Research cut Upwork from a "buy" rating to a "neutral" rating in a research report on Friday, April 4th. Finally, Scotiabank assumed coverage on Upwork in a research report on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Upwork has an average rating of "Moderate Buy" and a consensus target price of $18.67.

Insider Activity at Upwork

In other Upwork news, CFO Erica Gessert sold 4,316 shares of the business's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total value of $56,410.12. Following the transaction, the chief financial officer now owns 160,945 shares of the company's stock, valued at approximately $2,103,551.15. The trade was a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dave Bottoms sold 5,411 shares of the business's stock in a transaction on Tuesday, March 18th. The stock was 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 approximately $125,380.51. This represents a 36.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 562,773 shares of company stock valued at $9,433,027 in the last 90 days. 7.50% of the stock is owned by corporate 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.