Sei Investments Co. Acquires 46,972 Shares of Upwork Inc. (NASDAQ:UPWK)

Sei Investments Co. boosted its holdings in shares of Upwork Inc. (NASDAQ:UPWK) by 41.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 159,945 shares of the company’s stock after buying an additional 46,972 shares during the quarter. Sei Investments Co.’s holdings in Upwork were worth $2,615,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in Upwork by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,011,508 shares of the company’s stock valued at $10,570,000 after purchasing an additional 14,680 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Upwork by 40.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company’s stock valued at $2,630,000 after acquiring an additional 73,104 shares during the period. Holocene Advisors LP purchased a new stake in Upwork in the 3rd quarter worth approximately $282,000. Janus Henderson Group PLC raised its stake in Upwork by 34.6% during the 3rd quarter. Janus Henderson Group PLC now owns 68,070 shares of the company’s stock worth $712,000 after acquiring an additional 17,482 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in Upwork by 2,216.8% during the third quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company’s stock valued at $5,263,000 after purchasing an additional 481,942 shares in the last quarter. 77.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Upwork

In other Upwork news, CFO Erica Gessert sold 4,316 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total transaction of $56,410.12. Following the transaction, the chief financial officer now directly owns 160,945 shares in the company, valued at $2,103,551.15. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dave Bottoms sold 5,411 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total value of $70,721.77. Following the completion of the sale, the insider now owns 9,593 shares of the company’s stock, valued at $125,380.51. This represents a 36.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,365 shares of company stock worth $3,050,760 in the last 90 days. 7.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on UPWK. UBS Group raised their price objective on shares of Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Jefferies Financial Group boosted their price objective on Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Roth Mkm cut their target price on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Needham & Company LLC boosted their price target on Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada upped their price target on Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.58.

Upwork Trading Down 5.3 %

UPWK opened at $11.87 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The stock’s 50 day moving average price is $14.77 and its 200-day moving average price is $14.52. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 7.76 and a beta of 1.60.

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

Upwork 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.