Upwork Inc. (NASDAQ:UPWK) Stock Position Raised by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its stake in shares of Upwork Inc. (NASDAQ:UPWK) by 65.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,622 shares of the company’s stock after purchasing an additional 39,801 shares during the period. Los Angeles Capital Management LLC owned about 0.07% of Upwork worth $1,496,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of UPWK. J.W. Cole Advisors Inc. acquired a new position in shares of Upwork in the third quarter worth about $166,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Upwork by 33.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,648 shares of the company’s stock valued at $303,000 after purchasing an additional 6,683 shares in the last quarter. Strs Ohio acquired a new stake in shares of Upwork in the third quarter worth $198,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Upwork by 11.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,503 shares of the company’s stock worth $653,000 after buying an additional 5,956 shares during the period. Finally, Panagora Asset Management Inc. purchased a new position in shares of Upwork during the third quarter valued at $1,669,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Upwork Stock Down 2.2 %

Shares of UPWK stock opened at $12.35 on Wednesday. The stock 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 debt-to-equity ratio of 1.02, a current ratio of 2.93 and a quick ratio of 2.93. The stock has a fifty day moving average price of $12.16 and a 200 day moving average price of $13.23. Upwork Inc. has a one year low of $7.54 and a one year high of $16.36.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The company had revenue of $183.93 million during the quarter, compared to analyst estimates of $178.43 million. Upwork had a net margin of 6.70% and a return on equity of 13.96%. Analysts predict that Upwork Inc. will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on UPWK. JMP Securities raised their price objective on Upwork from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 15th. UBS Group upped their price objective on shares of Upwork from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. BTIG Research raised shares of Upwork from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, May 2nd. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Upwork in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group raised their price target on Upwork from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.30.

Insider Buying and Selling at Upwork

In other Upwork news, CEO Hayden Brown sold 20,000 shares of Upwork 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 transaction, the chief executive officer now directly owns 1,145,980 shares in the company, valued at $13,831,978.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Dave Bottoms sold 2,843 shares of the stock in a transaction dated 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. Also, CEO Hayden Brown sold 20,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were 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 of the company’s stock, valued at $13,831,978.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,374 shares of company stock valued at $889,478. 7.60% of the stock is currently owned by insiders.

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.