Upwork Inc. (NASDAQ:UPWK) Stake Boosted by Amundi

Amundi lifted its holdings in Upwork Inc. (NASDAQ:UPWK) by 37.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,251 shares of the company’s stock after purchasing an additional 25,464 shares during the period. Amundi owned 0.07% of Upwork worth $1,497,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of UPWK. KBC Group NV lifted its stake in shares of Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after purchasing an additional 1,497 shares during the last quarter. Quarry LP lifted its stake in shares of Upwork by 42.6% in the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after purchasing an additional 1,851 shares during the last quarter. Nkcfo LLC acquired a new stake in shares of Upwork in the 4th quarter valued at $82,000. SBI Securities Co. Ltd. acquired a new stake in shares of Upwork in the 4th quarter valued at $84,000. Finally, Financial Management Professionals Inc. acquired a new position in Upwork during the 4th quarter worth $97,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on UPWK. Scotiabank began coverage on shares of Upwork in a research report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 target price for the company. Needham & Company LLC boosted their target price on shares of Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and set a $18.00 target price on shares of Upwork in a research report on Thursday, January 30th. UBS Group boosted their target price on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Roth Mkm cut their target price on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.58.

Upwork Stock Up 0.5 %

NASDAQ UPWK opened at $13.21 on Wednesday. The stock has a market cap of $1.79 billion, a PE ratio of 8.63 and a beta of 1.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14. The firm has a 50-day simple moving average of $15.53 and a 200 day simple moving average of $14.25.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. On average, research analysts forecast that Upwork Inc. will post 0.84 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Hayden Brown sold 21,122 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total transaction of $341,120.30. Following the completion of the sale, the chief executive officer now owns 1,275,083 shares of the company’s stock, valued at approximately $20,592,590.45. This trade represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Elizabeth A. Nelson sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $17.58, for a total transaction of $1,318,500.00. Following the sale, the director now directly owns 16,299 shares of the company’s stock, valued at approximately $286,536.42. The trade was a 82.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 173,103 shares of company stock worth $2,785,935 over the last quarter. Company insiders own 7.60% of the company’s stock.

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.