Upwork Inc. (NASDAQ:UPWK) Stock Position Decreased by Cwm LLC

Cwm LLC cut its stake in shares of Upwork Inc. (NASDAQ:UPWK) by 20.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,434 shares of the company’s stock after selling 889 shares during the period. Cwm LLC’s holdings in Upwork were worth $51,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Daiwa Securities Group Inc. purchased a new position in shares of Upwork during the fourth quarter valued at $33,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Upwork in the 3rd quarter valued at about $135,000. Fox Run Management L.L.C. purchased a new stake in shares of Upwork in the third quarter worth approximately $164,000. AXQ Capital LP acquired a new stake in shares of Upwork during the third quarter worth approximately $189,000. Finally, Strs Ohio acquired a new position in Upwork in the 3rd quarter valued at approximately $198,000. 77.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity

In related news, CEO Hayden Brown sold 20,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were 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 $13,831,978.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Hayden Brown sold 20,000 shares of the firm’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 completion of the transaction, the chief executive officer now 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. Also, VP Dave Bottoms sold 2,843 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $13.22, for a total value of $37,584.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,374 shares of company stock worth $889,478. 7.60% of the stock is currently owned by corporate insiders.

Upwork Trading Up 1.5 %

Shares of UPWK opened at $12.10 on Friday. The stock’s 50-day moving average price is $12.12 and its 200 day moving average price is $13.21. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 34.57 and a beta of 1.66. Upwork Inc. has a 12-month low of $7.54 and a 12-month high of $16.36.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $183.93 million for the quarter, compared to analysts’ expectations of $178.43 million. Upwork had a return on equity of 13.96% and a net margin of 6.70%. As a group, research analysts predict that Upwork Inc. will post 0.42 earnings per share for the current year.

About Upwork

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.