Semanteon Capital Management LP Takes $667,000 Position in Upwork Inc. (NASDAQ:UPWK)

Semanteon Capital Management LP bought a new stake in Upwork Inc. (NASDAQ:UPWK) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 40,801 shares of the company’s stock, valued at approximately $667,000.

Several other institutional investors and hedge funds have also made changes to their positions in UPWK. KBC Group NV boosted its stake in shares of Upwork by 45.4% in the third 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 period. Quarry LP boosted its stake in Upwork by 42.6% during the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after acquiring an additional 1,851 shares during the last quarter. Nkcfo LLC bought a new position in Upwork during the 4th quarter valued at $82,000. SBI Securities Co. Ltd. bought a new position in Upwork during the 4th quarter valued at $84,000. Finally, Financial Management Professionals Inc. bought a new position in Upwork during the 4th quarter valued at $97,000. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on UPWK shares. JMP Securities reiterated a “market outperform” rating and set a $18.00 price objective on shares of Upwork in a research note on Thursday, January 30th. Roth Mkm reduced their price objective on shares of Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Needham & Company LLC increased their price objective on shares of Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group increased their price objective on shares of Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, UBS Group raised their price target 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. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.58.

Upwork Trading Up 0.9 %

Shares of NASDAQ:UPWK opened at $13.57 on Friday. The company has a market cap of $1.84 billion, a PE ratio of 8.87 and a beta of 1.61. The company’s 50-day moving average price is $15.39 and its 200 day moving average price is $14.27. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data 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%. Sell-side analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current year.

Insider Activity at Upwork

In other Upwork news, CFO Erica Gessert sold 4,316 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $56,410.12. Following the transaction, the chief financial officer now owns 160,945 shares of the company’s stock, valued at approximately $2,103,551.15. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hayden Brown sold 21,122 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total transaction of $341,120.30. Following the transaction, the chief executive officer now directly owns 1,275,083 shares in the company, valued at approximately $20,592,590.45. The trade was a 1.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 193,365 shares of company stock worth $3,050,760 in the last ninety days. 7.60% of the stock is owned by insiders.

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.