Mizuho Markets Americas LLC Sells 34,000 Shares of Upwork Inc. (NASDAQ:UPWK)

Mizuho Markets Americas LLC lessened its stake in shares of Upwork Inc. (NASDAQ:UPWK) by 36.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,443 shares of the company’s stock after selling 34,000 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Upwork were worth $741,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in UPWK. Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 702,595 shares in the last quarter. Jessup Wealth Management Inc bought a new position in shares of Upwork during the 4th quarter worth about $655,000. Raymond James & Associates bought a new position in shares of Upwork during the 4th quarter worth about $312,000. Assenagon Asset Management S.A. bought a new position in shares of Upwork during the 4th quarter worth about $19,082,000. Finally, Shaker Investments LLC OH boosted its position in shares of Upwork by 78.9% during the 4th quarter. Shaker Investments LLC OH now owns 117,718 shares of the company’s stock worth $1,750,000 after purchasing an additional 51,931 shares in the last quarter. Institutional investors own 77.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on UPWK shares. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Upwork in a report on Wednesday, May 15th. Royal Bank of Canada lowered their target price on shares of Upwork from $18.00 to $15.00 and set a “sector perform” rating on the stock in a report on Thursday, May 2nd. BTIG Research upgraded shares of Upwork from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Thursday, May 2nd. UBS Group started coverage on shares of Upwork in a report on Tuesday, July 2nd. They issued a “neutral” rating and a $12.00 target price on the stock. Finally, Roth Mkm restated a “buy” rating and issued a $19.00 target price on shares of Upwork in a report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Upwork currently has an average rating of “Moderate Buy” and a consensus target price of $17.20.

Insider Activity

In other 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 Securities & Exchange Commission, which is available through this link. In related news, Director Elizabeth A. Nelson sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $11.79, for a total value of $825,300.00. Following the completion of the transaction, the director now directly owns 32,616 shares of the company’s stock, valued at approximately $384,542.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Dave Bottoms sold 2,843 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $13.22, for a total transaction of $37,584.46. The disclosure for this sale can be found here. Insiders sold 195,114 shares of company stock valued at $2,266,910 in the last three months. Company insiders own 7.60% of the company’s stock.

Upwork Stock Up 0.7 %

NASDAQ:UPWK traded up $0.08 on Friday, hitting $11.44. The stock had a trading volume of 1,395,444 shares, compared to its average volume of 1,795,923. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.93 and a current ratio of 2.93. The stock has a market cap of $1.52 billion, a P/E ratio of 32.69 and a beta of 1.57. Upwork Inc. has a 1 year low of $9.56 and a 1 year high of $16.36. The firm’s fifty day simple moving average is $11.00 and its two-hundred day simple moving average is $12.31.

Upwork (NASDAQ:UPWK) last released its earnings results on Wednesday, May 1st. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Upwork had a net margin of 6.70% and a return on equity of 13.96%. The firm had revenue of $190.94 million during the quarter, compared to the consensus estimate of $186.71 million. Analysts predict that Upwork Inc. will post 0.52 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.