Upwork Inc. (NASDAQ:UPWK) Shares Sold by O Brien Wealth Partners LLC

O Brien Wealth Partners LLC decreased its holdings in Upwork Inc. (NASDAQ:UPWK) by 22.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 30,564 shares of the company’s stock after selling 8,750 shares during the quarter. O Brien Wealth Partners LLC’s holdings in Upwork were worth $319,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of UPWK. Vanguard Group Inc. grew its stake in shares of Upwork by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 15,226,218 shares of the company’s stock worth $226,414,000 after acquiring an additional 660,966 shares in the last quarter. New Century Financial Group LLC acquired a new position in shares of Upwork in the first quarter worth $1,083,000. Principal Financial Group Inc. grew its stake in shares of Upwork by 17.1% in the first quarter. Principal Financial Group Inc. now owns 16,823 shares of the company’s stock worth $206,000 after acquiring an additional 2,457 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Upwork by 9.7% in the first quarter. Commonwealth Equity Services LLC now owns 83,158 shares of the company’s stock worth $1,020,000 after acquiring an additional 7,332 shares in the last quarter. Finally, Smith Group Asset Management LLC acquired a new position in shares of Upwork during the first quarter worth $355,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Insider Activity

In related news, CFO Erica Gessert sold 20,353 shares of Upwork stock in a transaction on Monday, August 19th. The shares were sold at an average price of $9.65, for a total value of $196,406.45. Following the transaction, the chief financial officer now directly owns 107,313 shares in the company, valued at $1,035,570.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Erica Gessert sold 20,353 shares of Upwork stock in a transaction on Monday, August 19th. The shares were sold at an average price of $9.65, for a total value of $196,406.45. Following the transaction, the chief financial officer now directly owns 107,313 shares in the company, valued at $1,035,570.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Dave Bottoms sold 5,626 shares of Upwork stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $10.57, for a total transaction of $59,466.82. Following the completion of the transaction, the vice president now owns 15,196 shares in the company, valued at approximately $160,621.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 176,783 shares of company stock valued at $1,800,221 in the last ninety days. 7.60% of the stock is currently owned by company insiders.

Upwork Stock Performance

Shares of Upwork stock opened at $12.36 on Friday. The firm’s fifty day simple moving average is $10.21 and its 200-day simple moving average is $10.80. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 35.31 and a beta of 1.54. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $16.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.00 and a quick ratio of 3.00.

Upwork (NASDAQ:UPWK) last announced its earnings results on Wednesday, August 7th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $193.13 million for the quarter, compared to analysts’ expectations of $193.05 million. Upwork had a net margin of 10.00% and a return on equity of 20.75%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) EPS. As a group, equities analysts forecast that Upwork Inc. will post 0.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on UPWK. The Goldman Sachs Group cut their price target on Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada cut their target price on Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Roth Mkm dropped their price target on shares of Upwork from $19.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Citigroup reduced their price objective on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Finally, UBS Group dropped their target price on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $15.27.

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.