37,859 Shares in Upwork Inc. (NASDAQ:UPWK) Acquired by Duality Advisers LP

Duality Advisers LP purchased a new stake in Upwork Inc. (NASDAQ:UPWK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 37,859 shares of the company’s stock, valued at approximately $563,000.

A number of other large investors have also recently bought and sold shares of UPWK. Vanguard Group Inc. boosted its stake in shares of Upwork by 5.1% in the 3rd quarter. Vanguard Group Inc. now owns 14,565,252 shares of the company’s stock valued at $165,461,000 after purchasing an additional 702,595 shares in the last quarter. Financial Gravity Asset Management Inc. grew its stake in Upwork by 2,216.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 3,893,556 shares of the company’s stock worth $44,231,000 after buying an additional 3,725,442 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Upwork during the third quarter worth about $16,987,000. Mak Capital One LLC acquired a new stake in shares of Upwork during the third quarter worth approximately $15,528,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Upwork in the fourth quarter valued at approximately $19,082,000. 77.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Hayden Brown sold 20,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $12.07, for a total transaction of $241,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,145,980 shares in the company, valued at approximately $13,831,978.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 67,531 shares of company stock worth $851,894. Insiders own 9.00% of the company’s stock.

Analyst Ratings Changes

UPWK has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price target on Upwork from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Jefferies Financial Group upgraded Upwork from a “hold” rating to a “buy” rating and raised their target price for the company from $13.00 to $20.00 in a research note on Monday, January 8th. Royal Bank of Canada upped their price target on shares of Upwork from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 15th. Needham & Company LLC raised their price objective on shares of Upwork from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Finally, JMP Securities boosted their target price on shares of Upwork from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 15th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.55.

Upwork Trading Down 1.6 %

Shares of NASDAQ UPWK opened at $11.18 on Friday. Upwork Inc. has a fifty-two week low of $6.56 and a fifty-two week high of $16.36. The firm has a market capitalization of $1.48 billion, a P/E ratio of 159.74 and a beta of 1.67. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.01 and a quick ratio of 3.01. The company’s 50 day simple moving average is $12.37 and its 200 day simple moving average is $13.16.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Upwork had a return on equity of 14.21% and a net margin of 6.80%. The company had revenue of $183.93 million for the quarter, compared to the consensus estimate of $178.43 million. On average, analysts predict that Upwork Inc. will post 0.42 EPS 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.