Occudo Quantitative Strategies LP Sells 1,261 Shares of Upwork Inc. (NASDAQ:UPWK)

Occudo Quantitative Strategies LP lessened its stake in shares of Upwork Inc. (NASDAQ:UPWK) by 10.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,501 shares of the company’s stock after selling 1,261 shares during the period. Occudo Quantitative Strategies LP’s holdings in Upwork were worth $172,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nkcfo LLC bought a new stake in Upwork during the fourth quarter worth about $82,000. SBI Securities Co. Ltd. bought a new stake in Upwork in the fourth quarter valued at approximately $84,000. Financial Management Professionals Inc. bought a new stake in Upwork in the fourth quarter valued at approximately $97,000. KBC Group NV raised its stake in Upwork by 39.6% in the fourth quarter. KBC Group NV now owns 6,690 shares of the company’s stock valued at $109,000 after buying an additional 1,899 shares during the period. Finally, State of Tennessee Department of Treasury bought a new stake in Upwork in the fourth quarter valued at approximately $180,000. Institutional investors own 77.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Citigroup dropped their price objective on Upwork from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. Roth Mkm lowered their target price on Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price target on shares of Upwork in a research report on Tuesday, May 6th. UBS Group raised their price objective on Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, BTIG Research lowered Upwork from a “buy” rating to a “neutral” rating in a research note on Friday, April 4th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.67.

Insider Buying and Selling at Upwork

In related 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 transaction of $222,304.75. Following the sale, the chief financial officer now owns 156,828 shares in the company, valued at $2,532,772.20. The trade was a 8.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas Layton sold 250,000 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $17.47, for a total value of $4,367,500.00. Following the sale, the director now owns 1,867,769 shares in the company, valued at $32,629,924.43. This represents a 11.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 562,773 shares of company stock valued at $9,433,027. 7.50% of the stock is currently owned by corporate insiders.

Upwork Trading Up 0.9%

Shares of UPWK stock opened at $17.24 on Friday. The stock’s fifty day moving average price is $13.72 and its two-hundred day moving average price is $15.22. The company has a market cap of $2.27 billion, a PE ratio of 11.27 and a beta of 1.52. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39.

Upwork (NASDAQ:UPWK) last issued its earnings results on Monday, May 5th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. The firm had revenue of $192.71 million for the quarter, compared to the consensus estimate of $188.49 million. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. Equities analysts predict 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.