Upwork Inc. (NASDAQ:UPWK) Shares Purchased by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. grew its position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 86.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,303,035 shares of the company's stock after purchasing an additional 1,534,078 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 2.47% of Upwork worth $54,005,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in UPWK. Nkcfo LLC purchased a new stake in shares of Upwork in the fourth quarter valued at approximately $82,000. SBI Securities Co. Ltd. purchased a new position in Upwork during the fourth quarter valued at $84,000. Financial Management Professionals Inc. purchased a new position in Upwork during the fourth quarter valued at $97,000. KBC Group NV increased its stake in shares of Upwork by 39.6% during the fourth quarter. KBC Group NV now owns 6,690 shares of the company's stock worth $109,000 after purchasing an additional 1,899 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Upwork during the 4th quarter worth about $180,000. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Upwork Trading Up 1.6 %

NASDAQ:UPWK traded up $0.21 on Thursday, reaching $13.36. The company's stock had a trading volume of 506,715 shares, compared to its average volume of 2,228,024. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 8.74 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 Inc. has a 12-month low of $8.43 and a 12-month high of $18.14. The stock has a 50 day moving average price of $13.45 and a 200 day moving average price of $14.82.

Upwork (NASDAQ:UPWK - Get Free Report) last posted its earnings results 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%. On average, equities analysts anticipate that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Upwork news, Director Elizabeth A. Nelson sold 75,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $17.58, for a total transaction of $1,318,500.00. Following the sale, the director now directly owns 16,299 shares in the company, valued at $286,536.42. This represents a 82.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $70,721.77. Following the completion of the transaction, the insider now owns 9,593 shares of the company's stock, valued at approximately $125,380.51. This trade 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 valued at $3,046,648. Company insiders own 7.60% of the company's stock.

Analyst Upgrades and Downgrades

UPWK has been the subject of several research reports. Jefferies Financial Group cut their price objective on Upwork from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, April 7th. UBS Group increased their price objective on Upwork from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Scotiabank initiated coverage on shares of Upwork in a report on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 target price for the company. BTIG Research cut shares of Upwork from a "buy" rating to a "neutral" rating in a research report on Friday, April 4th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $18.00 price objective on shares of Upwork in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.