Upwork Inc. (NASDAQ:UPWK) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in Upwork Inc. (NASDAQ:UPWKGet Rating) by 38.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,250 shares of the company’s stock after purchasing an additional 10,966 shares during the period. SG Americas Securities LLC’s holdings in Upwork were worth $535,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Baillie Gifford & Co. raised its position in Upwork by 7.1% during the second quarter. Baillie Gifford & Co. now owns 6,890,971 shares of the company’s stock worth $142,505,000 after acquiring an additional 457,423 shares during the last quarter. ATOMVEST Ltd acquired a new position in Upwork during the second quarter worth about $51,719,000. FMR LLC raised its position in Upwork by 1.0% during the second quarter. FMR LLC now owns 2,376,577 shares of the company’s stock worth $49,148,000 after acquiring an additional 23,317 shares during the last quarter. State Street Corp raised its position in Upwork by 1.9% during the first quarter. State Street Corp now owns 2,350,936 shares of the company’s stock worth $54,636,000 after acquiring an additional 44,681 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in Upwork by 8.3% during the second quarter. Federated Hermes Inc. now owns 2,274,638 shares of the company’s stock worth $47,040,000 after acquiring an additional 174,378 shares during the last quarter. Institutional investors and hedge funds own 74.05% of the company’s stock.

Wall Street Analyst Weigh In

UPWK has been the subject of a number of research reports. Canaccord Genuity Group cut their target price on shares of Upwork from $36.00 to $25.00 in a research report on Friday, October 28th. Citigroup started coverage on shares of Upwork in a report on Tuesday, December 13th. They set a “neutral” rating for the company. The Goldman Sachs Group lowered their price target on shares of Upwork from $30.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, October 27th. JMP Securities lowered their price target on shares of Upwork from $33.00 to $18.00 and set a “market outperform” rating for the company in a report on Thursday, October 27th. Finally, Piper Sandler lowered their price target on shares of Upwork from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, January 6th. 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 company has an average rating of “Moderate Buy” and an average price target of $22.82.

Upwork Price Performance

Upwork stock opened at $12.86 on Tuesday. Upwork Inc. has a 1 year low of $9.79 and a 1 year high of $29.92. The firm has a 50 day moving average price of $11.60 and a 200 day moving average price of $14.92. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -17.38 and a beta of 1.45. The company has a debt-to-equity ratio of 2.32, a quick ratio of 3.69 and a current ratio of 3.69.

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

Insiders Place Their Bets

In other news, CEO Hayden Brown sold 30,677 shares of the business’s stock in a transaction on Monday, December 19th. The shares were sold at an average price of $10.71, for a total transaction of $328,550.67. Following the transaction, the chief executive officer now directly owns 903,857 shares of the company’s stock, valued at $9,680,308.47. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Hayden Brown sold 30,677 shares of the business’s stock in a transaction on Monday, December 19th. The shares were sold at an average price of $10.71, for a total transaction of $328,550.67. Following the transaction, the chief executive officer now directly owns 903,857 shares of the company’s stock, valued at $9,680,308.47. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jeff Mccombs sold 16,372 shares of the business’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $12.06, for a total transaction of $197,446.32. Following the transaction, the chief financial officer now directly owns 97,264 shares in the company, valued at $1,173,003.84. The disclosure for this sale can be found here. Insiders sold a total of 65,033 shares of company stock worth $741,714 over the last ninety days. 8.90% of the stock is owned by company insiders.

Upwork Company Profile

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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.

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Institutional Ownership by Quarter for Upwork (NASDAQ:UPWK)

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