International Assets Investment Management LLC Has $814,000 Position in Upwork Inc. (NASDAQ:UPWK)

International Assets Investment Management LLC boosted its stake in shares of Upwork Inc. (NASDAQ:UPWK) by 143.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,070 shares of the company’s stock after purchasing an additional 11,830 shares during the period. International Assets Investment Management LLC’s holdings in Upwork were worth $814,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position in Upwork by 24.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,721,721 shares of the company’s stock valued at $232,034,000 after purchasing an additional 1,327,735 shares during the last quarter. BlackRock Inc. boosted its position in Upwork by 7.5% during the fourth quarter. BlackRock Inc. now owns 6,551,245 shares of the company’s stock valued at $226,150,000 after purchasing an additional 456,028 shares during the last quarter. Baillie Gifford & Co. boosted its position in Upwork by 18.7% during the fourth quarter. Baillie Gifford & Co. now owns 4,467,561 shares of the company’s stock valued at $154,220,000 after purchasing an additional 705,207 shares during the last quarter. ATOMVEST Ltd acquired a new position in Upwork during the fourth quarter valued at approximately $60,848,000. Finally, Federated Hermes Inc. boosted its position in Upwork by 10.4% during the fourth quarter. Federated Hermes Inc. now owns 1,516,394 shares of the company’s stock valued at $52,346,000 after purchasing an additional 142,894 shares during the last quarter. 60.29% of the stock is owned by hedge funds and other institutional investors.

UPWK has been the topic of several research analyst reports. JMP Securities upped their price objective on Upwork from $28.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, February 24th. BTIG Research upped their price objective on Upwork from $68.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, February 24th. Smith Barney Citigroup upgraded Upwork from a “neutral” rating to a “buy” rating and upped their price objective for the company from $32.00 to $48.00 in a research note on Tuesday, January 12th. Zacks Investment Research upgraded Upwork from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Tuesday, March 2nd. Finally, Citigroup upped their price objective on Upwork from $48.00 to $75.00 in a research note on Thursday, February 25th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $61.78.

In other Upwork news, CEO Hayden Brown sold 1,418 shares of the firm’s stock in a transaction on Monday, April 19th. The stock was sold at an average price of $46.56, for a total transaction of $66,022.08. Following the transaction, the chief executive officer now owns 467,947 shares in the company, valued at approximately $21,787,612.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Eric Gilpin sold 3,389 shares of the firm’s stock in a transaction on Friday, February 19th. The stock was sold at an average price of $53.78, for a total value of $182,260.42. Following the transaction, the vice president now owns 10,422 shares in the company, valued at approximately $560,495.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 296,604 shares of company stock worth $13,253,281. Corporate insiders own 25.30% of the company’s stock.

Shares of NASDAQ UPWK opened at $45.21 on Friday. The firm has a market cap of $5.65 billion, a P/E ratio of -180.84 and a beta of 2.15. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.02. Upwork Inc. has a 1-year low of $7.50 and a 1-year high of $63.88. The business’s 50 day moving average is $46.32 and its 200-day moving average is $38.72.

Upwork (NASDAQ:UPWK) last announced its earnings results on Tuesday, February 23rd. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.08. Upwork had a negative return on equity of 10.95% and a negative net margin of 8.42%. The company had revenue of $106.15 million for the quarter, compared to analyst estimates of $97.34 million. During the same quarter last year, the company earned $0.03 earnings per share. The firm’s quarterly revenue was up 32.2% compared to the same quarter last year. Analysts forecast that Upwork Inc. will post -0.28 EPS for the current year.

Upwork Company Profile

Upwork Inc, together with its subsidiaries, operates an online talent marketplace that enables businesses to find and work with various independent professionals and agencies in the United States, India, the Philippines, and internationally. The company's platform provides access to talent with various skills across a range of categories, including sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.

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Institutional Ownership by Quarter for Upwork (NASDAQ:UPWK)

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