Legal & General Group Plc Has $2.26 Million Stake in Upwork Inc. (NASDAQ:UPWK)

Legal & General Group Plc lowered its position in shares of Upwork Inc. (NASDAQ:UPWK) by 1.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 138,441 shares of the company’s stock after selling 1,894 shares during the period. Legal & General Group Plc owned about 0.10% of Upwork worth $2,264,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. raised its stake in shares of Upwork by 1,674.0% during the fourth quarter. Invesco Ltd. now owns 1,748,320 shares of the company’s stock valued at $28,585,000 after acquiring an additional 1,649,766 shares during the last quarter. Russell Investments Group Ltd. raised its position in Upwork by 20,322.0% during the 4th quarter. Russell Investments Group Ltd. now owns 79,850 shares of the company’s stock worth $1,326,000 after purchasing an additional 79,459 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Upwork by 5.7% during the 4th quarter. Wells Fargo & Company MN now owns 65,775 shares of the company’s stock worth $1,075,000 after buying an additional 3,543 shares during the period. Integrated Quantitative Investments LLC acquired a new stake in shares of Upwork in the fourth quarter valued at about $861,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in Upwork during the 4th quarter valued at approximately $2,222,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on UPWK shares. Royal Bank of Canada boosted their target price on shares of Upwork from $16.00 to $18.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Jefferies Financial Group cut their target price on Upwork from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Scotiabank initiated coverage on Upwork in a research note on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 target price for the company. BTIG Research lowered Upwork from a “buy” rating to a “neutral” rating in a research note on Friday, April 4th. Finally, Roth Mkm reduced their price objective on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Upwork has a consensus rating of “Moderate Buy” and an average price target of $18.58.

Upwork Trading Up 3.0 %

NASDAQ:UPWK opened at $13.56 on Friday. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The company has a market cap of $1.84 billion, a PE ratio of 8.86 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. The firm has a 50-day moving average of $13.71 and a 200-day moving average of $14.73.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. As a group, equities research analysts expect that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling at Upwork

In other Upwork news, CFO Erica Gessert sold 13,765 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total value of $222,304.75. Following the transaction, the chief financial officer now owns 156,828 shares of the company’s stock, valued at approximately $2,532,772.20. The trade was a 8.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hayden Brown sold 21,122 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value of $341,120.30. Following the sale, the chief executive officer now directly owns 1,275,083 shares of the company’s stock, valued at approximately $20,592,590.45. This represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 193,108 shares of company stock worth $3,046,648. 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.