Upwork Inc. (NASDAQ:UPWK) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its stake in Upwork Inc. (NASDAQ:UPWK) by 65.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,622 shares of the company’s stock after purchasing an additional 39,801 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Upwork were worth $1,496,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Upwork by 5.1% during the 3rd quarter. Vanguard Group Inc. now owns 14,565,252 shares of the company’s stock worth $165,461,000 after buying an additional 702,595 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Upwork by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 956,370 shares of the company’s stock worth $10,864,000 after purchasing an additional 43,081 shares in the last quarter. Graham Capital Management L.P. raised its stake in Upwork by 143.1% in the 3rd quarter. Graham Capital Management L.P. now owns 115,738 shares of the company’s stock valued at $1,315,000 after purchasing an additional 68,124 shares during the last quarter. Citigroup Inc. lifted its holdings in Upwork by 58.4% in the 3rd quarter. Citigroup Inc. now owns 182,603 shares of the company’s stock valued at $2,074,000 after purchasing an additional 67,308 shares in the last quarter. Finally, Landscape Capital Management L.L.C. lifted its holdings in Upwork by 87.7% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 129,209 shares of the company’s stock valued at $1,468,000 after purchasing an additional 60,385 shares in the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Upwork Stock Down 2.2 %

Shares of UPWK opened at $12.35 on Wednesday. The firm has a market cap of $1.64 billion, a P/E ratio of 35.29 and a beta of 1.66. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 1.02. The company’s 50-day moving average price is $12.16 and its 200 day moving average price is $13.23. Upwork Inc. has a 12-month low of $7.54 and a 12-month high of $16.36.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Upwork had a net margin of 6.70% and a return on equity of 13.96%. The company had revenue of $183.93 million during the quarter, compared to analysts’ expectations of $178.43 million. On average, sell-side analysts forecast that Upwork Inc. will post 0.42 earnings per share for the current year.

Insiders Place Their Bets

In other Upwork news, CEO Hayden Brown sold 20,000 shares of Upwork stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $12.07, for a total value of $241,400.00. Following the sale, the chief executive officer now owns 1,145,980 shares of the company’s stock, valued at approximately $13,831,978.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Upwork news, VP Dave Bottoms sold 2,843 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $13.22, for a total transaction of $37,584.46. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Hayden Brown sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $12.07, for a total transaction of $241,400.00. Following the sale, the chief executive officer now owns 1,145,980 shares of the company’s stock, valued at $13,831,978.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,374 shares of company stock valued at $889,478. Insiders own 7.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. UBS Group increased their target price on shares of Upwork from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. JMP Securities raised 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. Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Upwork in a research report on Thursday, May 2nd. The Goldman Sachs Group lifted their price objective on Upwork from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Finally, Royal Bank of Canada dropped their target price on Upwork from $18.00 to $15.00 and set a “sector perform” rating for the company in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.30.

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.