Raymond James & Associates Purchases 8,939 Shares of Upwork Inc. (NASDAQ:UPWK)

Raymond James & Associates boosted its position in shares of Upwork Inc. (NASDAQ:UPWKGet Rating) by 5.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 173,887 shares of the company’s stock after buying an additional 8,939 shares during the quarter. Raymond James & Associates’ holdings in Upwork were worth $2,368,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC raised its holdings in Upwork by 154.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,323 shares of the company’s stock worth $27,000 after purchasing an additional 803 shares during the last quarter. Amundi increased its stake in shares of Upwork by 4,820.7% in the 2nd quarter. Amundi now owns 2,854 shares of the company’s stock valued at $58,000 after acquiring an additional 2,796 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Upwork in the 1st quarter valued at about $120,000. Van ECK Associates Corp increased its stake in shares of Upwork by 10.0% in the 2nd quarter. Van ECK Associates Corp now owns 6,002 shares of the company’s stock valued at $124,000 after acquiring an additional 544 shares during the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Upwork in the 2nd quarter valued at about $233,000. 74.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on UPWK shares. Canaccord Genuity Group lowered their price target on Upwork from $36.00 to $25.00 in a research note on Friday, October 28th. Needham & Company LLC lowered their price target on Upwork from $27.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, October 27th. JMP Securities lowered their price target on Upwork from $33.00 to $18.00 and set a “market outperform” rating for the company in a research note on Thursday, October 27th. Royal Bank of Canada decreased their price objective on Upwork from $21.00 to $15.00 in a research report on Thursday, October 27th. Finally, Citigroup started coverage on Upwork in a research report on Tuesday, December 13th. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.82.

Upwork Trading Up 1.9 %

NASDAQ:UPWK opened at $12.52 on Monday. Upwork Inc. has a twelve month low of $9.79 and a twelve month high of $29.92. The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 2.32. The business has a 50 day moving average price of $11.63 and a two-hundred day moving average price of $15.00. The company has a market cap of $1.64 billion, a P/E ratio of -16.92 and a beta of 1.45.

Upwork (NASDAQ:UPWKGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. Upwork had a negative return on equity of 38.46% and a negative net margin of 16.16%. The firm had revenue of $158.64 million during the quarter, compared to the consensus estimate of $157.36 million. As a group, analysts expect that Upwork Inc. will post -0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Hayden Brown sold 30,677 shares of the stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $10.71, for a total value of $328,550.67. Following the completion of the sale, the chief executive officer now owns 903,857 shares of the company’s stock, valued at approximately $9,680,308.47. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Hayden Brown sold 30,677 shares of the stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $10.71, for a total value of $328,550.67. Following the completion of the sale, the chief executive officer now owns 903,857 shares of the company’s stock, valued at approximately $9,680,308.47. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric Gilpin sold 7,179 shares of the stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $12.06, for a total value of $86,578.74. Following the completion of the sale, the insider now directly owns 39,238 shares of the company’s stock, valued at approximately $473,210.28. The disclosure for this sale can be found here. Insiders sold a total of 65,033 shares of company stock valued at $741,714 in the last quarter. 8.90% of the stock is currently owned by insiders.

Upwork Profile

(Get Rating)

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 sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.

Further Reading

Want to see what other hedge funds are holding UPWK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Upwork Inc. (NASDAQ:UPWKGet Rating).

Institutional Ownership by Quarter for Upwork (NASDAQ:UPWK)

Receive News & Ratings for Upwork Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Upwork and related companies with MarketBeat.com's FREE daily email newsletter.