Upwork Inc. (NASDAQ:UPWK) Shares Bought by Stifel Financial Corp

Stifel Financial Corp boosted its position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 142.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 513,305 shares of the company's stock after buying an additional 301,736 shares during the quarter. Stifel Financial Corp owned 0.38% of Upwork worth $8,393,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SkyView Investment Advisors LLC grew its holdings in Upwork by 13.9% during the 3rd quarter. SkyView Investment Advisors LLC now owns 226,375 shares of the company's stock worth $2,366,000 after acquiring an additional 27,639 shares in the last quarter. Wedmont Private Capital bought a new position in shares of Upwork during the fourth quarter valued at approximately $544,000. Financial Management Professionals Inc. purchased a new position in Upwork during the fourth quarter valued at approximately $97,000. KBC Group NV raised its stake in Upwork by 39.6% in the fourth quarter. KBC Group NV now owns 6,690 shares of the company's stock worth $109,000 after buying an additional 1,899 shares in the last quarter. Finally, Stoneridge Investment Partners LLC lifted its holdings in Upwork by 19.9% during the fourth 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. Hedge funds and other institutional investors own 77.71% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Needham & Company LLC increased their price target on shares of Upwork from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. JMP Securities reissued a "market outperform" rating and set a $18.00 target price on shares of Upwork in a research report on Thursday, January 30th. Jefferies Financial Group cut their price target on shares of Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Royal Bank of Canada increased their price objective on Upwork from $16.00 to $18.00 and gave the company a "sector perform" rating in a report on Thursday, February 13th. Finally, UBS Group boosted their target price on Upwork from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $18.58.

Insider Activity

In other news, CFO Erica Gessert sold 4,316 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 160,945 shares of the company's stock, valued at approximately $2,103,551.15. This represents a 2.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Elizabeth A. Nelson sold 75,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $17.58, for a total value of $1,318,500.00. Following the completion of the transaction, the director now owns 16,299 shares of the company's stock, valued at $286,536.42. The trade was a 82.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 193,108 shares of company stock valued at $3,046,648. 7.60% of the stock is currently owned by company insiders.

Upwork Stock Down 1.4 %

Shares of NASDAQ:UPWK traded down $0.19 during trading on Wednesday, hitting $13.15. The company's stock had a trading volume of 1,215,905 shares, compared to its average volume of 2,234,765. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14. The business has a 50 day moving average price of $13.45 and a two-hundred day moving average price of $14.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The company has a market capitalization of $1.78 billion, a PE ratio of 8.59 and a beta of 1.60.

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

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.