XTX Topco Ltd Cuts Stock Position in Upwork Inc. (NASDAQ:UPWK)

XTX Topco Ltd reduced its stake in Upwork Inc. (NASDAQ:UPWK - Free Report) by 56.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,292 shares of the company's stock after selling 34,217 shares during the quarter. XTX Topco Ltd's holdings in Upwork were worth $430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of UPWK. KBC Group NV raised its position in 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 last quarter. Rhumbline Advisers boosted its holdings in Upwork by 1.4% in the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company's stock valued at $2,914,000 after purchasing an additional 2,387 shares during the last quarter. King Luther Capital Management Corp grew its position in Upwork by 1.0% during the 4th quarter. King Luther Capital Management Corp now owns 263,802 shares of the company's stock worth $4,313,000 after purchasing an additional 2,636 shares during the period. Hillsdale Investment Management Inc. raised its stake in shares of Upwork by 0.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 349,800 shares of the company's stock valued at $5,719,000 after buying an additional 2,700 shares during the last quarter. Finally, Stoneridge Investment Partners LLC boosted its stake in shares of Upwork by 19.9% in 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 last quarter. 77.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Elizabeth A. Nelson sold 75,000 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 16,299 shares of the company's stock, valued at approximately $286,536.42. The trade was a 82.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dave Bottoms sold 5,411 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now owns 9,593 shares in the company, valued at $125,380.51. This represents a 36.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 193,108 shares of company stock worth $3,046,648. Corporate insiders own 7.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on UPWK. Jefferies Financial Group lowered their price objective on Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Royal Bank of Canada increased their target price on shares of Upwork from $16.00 to $18.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 13th. Scotiabank initiated coverage on Upwork in a report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price target for the company. JMP Securities reissued a "market outperform" rating and issued a $18.00 price objective on shares of Upwork in a report on Thursday, January 30th. Finally, BTIG Research lowered Upwork from a "buy" rating to a "neutral" rating in a research report on Friday, April 4th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.58.

Upwork Stock Down 0.1 %

Shares of Upwork stock traded down $0.02 during trading hours on Friday, reaching $13.54. 1,194,471 shares of the company were exchanged, compared to its average volume of 2,248,198. The firm has a market cap of $1.83 billion, a PE ratio of 8.85 and a beta of 1.60. The stock's fifty day moving average is $13.64 and its 200 day moving average is $14.82. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39.

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, equities research analysts forecast that Upwork Inc. will post 0.84 earnings per share for the current year.

Upwork Company 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.