51,867 Shares in Upwork Inc. (NASDAQ:UPWK) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new position in shares of Upwork Inc. (NASDAQ:UPWK) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 51,867 shares of the company’s stock, valued at approximately $771,000.

A number of other hedge funds have also recently bought and sold shares of UPWK. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Upwork by 33.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,648 shares of the company’s stock valued at $303,000 after buying an additional 6,683 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Upwork by 11.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,503 shares of the company’s stock valued at $653,000 after buying an additional 5,956 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Upwork in the 3rd quarter valued at $691,000. Versor Investments LP boosted its position in Upwork by 31.7% in the 3rd quarter. Versor Investments LP now owns 33,067 shares of the company’s stock valued at $376,000 after buying an additional 7,967 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Upwork in the 3rd quarter valued at $164,000. 77.71% of the stock is currently owned by institutional investors.

Upwork Stock Performance

Shares of Upwork stock opened at $11.10 on Friday. The company has a market capitalization of $1.48 billion, a PE ratio of 31.72 and a beta of 1.66. Upwork Inc. has a 12 month low of $7.54 and a 12 month high of $16.36. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 1.02. The stock’s fifty day simple moving average is $11.91 and its 200 day simple moving average is $13.30.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $190.94 million for the quarter, compared to analyst estimates of $186.71 million. Upwork had a return on equity of 13.96% and a net margin of 6.70%. On average, research analysts predict that Upwork Inc. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JMP Securities increased their price objective on Upwork from $16.00 to $17.00 and gave the company a “market outperform” rating in a research report on Thursday, February 15th. Royal Bank of Canada cut their price target on Upwork from $18.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 2nd. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Upwork in a research note on Wednesday, May 15th. The Goldman Sachs Group increased their price target on Upwork from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Finally, UBS Group increased their price target on Upwork from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Upwork has an average rating of “Moderate Buy” and an average target price of $17.80.

Insider Activity

In other news, VP Dave Bottoms sold 2,843 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $13.22, for a total value of $37,584.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Dave Bottoms sold 2,843 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $13.22, for a total value of $37,584.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Hayden Brown sold 31,300 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $11.61, for a total value of $363,393.00. Following the completion of the sale, the chief executive officer now owns 1,175,829 shares in the company, valued at $13,651,374.69. The disclosure for this sale can be found here. Insiders have sold a total of 201,756 shares of company stock worth $2,371,144 over the last three months. Corporate insiders own 7.60% of the company’s stock.

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.