Schroder Investment Management Group Makes New Investment in Upwork Inc. (NASDAQ:UPWK)

Schroder Investment Management Group purchased a new stake in shares of Upwork Inc. (NASDAQ:UPWK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 65,928 shares of the company’s stock, valued at approximately $1,095,000.

A number of other hedge funds have also modified their holdings of UPWK. Quarry LP raised its position in Upwork by 42.6% during the third quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after acquiring an additional 1,851 shares in the last quarter. KBC Group NV increased its stake in shares of Upwork by 39.6% during the 4th quarter. KBC Group NV now owns 6,690 shares of the company’s stock worth $109,000 after purchasing an additional 1,899 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Upwork by 1.4% during the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock valued at $2,914,000 after purchasing an additional 2,387 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in Upwork by 1.0% in the fourth quarter. King Luther Capital Management Corp now owns 263,802 shares of the company’s stock worth $4,313,000 after purchasing an additional 2,636 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its position in Upwork by 0.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 349,800 shares of the company’s stock worth $5,719,000 after buying an additional 2,700 shares during the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Elizabeth A. Nelson sold 75,000 shares of Upwork stock in a transaction dated Wednesday, February 19th. The shares were 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 in the company, valued at approximately $286,536.42. The trade was a 82.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hayden Brown sold 21,122 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total transaction of $341,120.30. Following the completion of the transaction, the chief executive officer now directly owns 1,275,083 shares of the company’s stock, valued at $20,592,590.45. This trade represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 193,365 shares of company stock worth $3,050,760. Company insiders own 7.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on UPWK shares. Jefferies Financial Group reduced their price target on Upwork from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday. BTIG Research lowered Upwork from a “buy” rating to a “neutral” rating in a report on Friday. JMP Securities reaffirmed a “market outperform” rating and set a $18.00 target price on shares of Upwork in a research report on Thursday, January 30th. Royal Bank of Canada lifted their price target on shares of Upwork from $16.00 to $18.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Finally, Scotiabank started coverage on shares of Upwork in a report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price objective for the company. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Upwork has an average rating of “Moderate Buy” and a consensus price target of $18.58.

Upwork Price Performance

NASDAQ:UPWK opened at $11.96 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. The stock has a market cap of $1.62 billion, a P/E ratio of 7.82 and a beta of 1.60. The company has a fifty day moving average price of $14.67 and a 200 day moving average price of $14.59. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14.

Upwork (NASDAQ:UPWK) last released its earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. Analysts anticipate that Upwork Inc. will post 0.84 earnings per share 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.