LSV Asset Management Buys New Holdings in Upwork Inc. (NASDAQ:UPWK)

LSV Asset Management purchased a new position in shares of Upwork Inc. (NASDAQ:UPWK) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,152,162 shares of the company’s stock, valued at approximately $18,838,000.

A number of other large investors have also bought and sold shares of UPWK. Janus Henderson Group PLC increased its position in shares of Upwork by 34.6% in the third quarter. Janus Henderson Group PLC now owns 68,070 shares of the company’s stock valued at $712,000 after acquiring an additional 17,482 shares during the period. Stifel Financial Corp grew its stake in shares of Upwork by 228.0% in the third quarter. Stifel Financial Corp now owns 211,569 shares of the company’s stock worth $2,211,000 after purchasing an additional 147,059 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Upwork during the 3rd quarter valued at about $355,000. SkyView Investment Advisors LLC raised its position in Upwork by 13.9% during the 3rd quarter. SkyView Investment Advisors LLC now owns 226,375 shares of the company’s stock valued at $2,366,000 after purchasing an additional 27,639 shares during the last quarter. Finally, Wedmont Private Capital purchased a new stake in Upwork in the 4th quarter worth approximately $544,000. 77.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UPWK has been the topic of several research analyst reports. UBS Group boosted their target price on Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Royal Bank of Canada boosted their price objective 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. BTIG Research cut shares of Upwork from a “buy” rating to a “neutral” rating in a research report on Friday, April 4th. Jefferies Financial Group cut their target price on shares of Upwork from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, Needham & Company LLC increased their price target on shares of Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.58.

Insider Buying and Selling at Upwork

In other Upwork news, insider Dave Bottoms sold 5,411 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 9,593 shares of the company’s stock, valued at approximately $125,380.51. The trade was a 36.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Erica Gessert sold 13,765 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 $222,304.75. Following the sale, the chief financial officer now directly owns 156,828 shares in the company, valued at approximately $2,532,772.20. The trade was a 8.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 193,365 shares of company stock worth $3,050,760. Insiders own 7.60% of the company’s stock.

Upwork Stock Performance

Shares of Upwork stock opened at $12.90 on Friday. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 8.43 and a beta of 1.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14. The firm’s 50-day moving average is $14.25 and its 200 day moving average is $14.61.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, beating 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%. Sell-side analysts anticipate that Upwork Inc. will post 0.84 EPS for the current fiscal 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.