Upwork Inc. (NASDAQ:UPWK) Holdings Decreased by Fund 1 Investments LLC

Fund 1 Investments LLC cut its position in shares of Upwork Inc. (NASDAQ:UPWK) by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 283,740 shares of the company’s stock after selling 42,641 shares during the quarter. Fund 1 Investments LLC’s holdings in Upwork were worth $4,639,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Wedmont Private Capital bought a new position in shares of Upwork during the fourth quarter valued at approximately $544,000. Financial Management Professionals Inc. acquired a new position in Upwork during the 4th quarter valued at approximately $97,000. KBC Group NV grew its stake in Upwork by 39.6% during the 4th quarter. KBC Group NV now owns 6,690 shares of the company’s stock worth $109,000 after buying an additional 1,899 shares during the last quarter. Stoneridge Investment Partners LLC increased its position in Upwork by 19.9% in the fourth quarter. Stoneridge Investment Partners LLC now owns 16,566 shares of the company’s stock worth $271,000 after buying an additional 2,744 shares during the period. Finally, Bristlecone Advisors LLC lifted its stake in Upwork by 54.9% in the fourth quarter. Bristlecone Advisors LLC now owns 65,113 shares of the company’s stock valued at $1,065,000 after buying an additional 23,090 shares during the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Upwork Stock Up 2.6 %

UPWK stock opened at $16.88 on Friday. The firm has a market cap of $2.22 billion, a PE ratio of 11.03 and a beta of 1.52. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $18.14. 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 simple moving average of $13.40 and a 200 day simple moving average of $15.05.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Monday, May 5th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.09. The business had revenue of $192.71 million during the quarter, compared to analyst estimates 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 period last year, the company posted $0.22 EPS. Equities research analysts forecast that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on UPWK shares. Citigroup lowered their price target on shares of Upwork from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday. Scotiabank initiated coverage on shares of Upwork in a research note on Wednesday, March 12th. They issued a “sector perform” rating and a $15.00 price target on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 price objective on shares of Upwork in a research report on Tuesday. JMP Securities restated a “market outperform” rating and issued a $18.00 target price on shares of Upwork in a research report on Thursday, January 30th. Finally, Roth Mkm reduced their price target on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Upwork currently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Insider Buying and Selling

In other Upwork news, CEO Hayden Brown sold 21,122 shares of Upwork stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total transaction of $341,120.30. Following the transaction, the chief executive officer now directly owns 1,275,083 shares in the company, valued at approximately $20,592,590.45. The trade was a 1.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dave Bottoms sold 5,411 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total value of $70,721.77. Following the completion of the sale, the insider now owns 9,593 shares of the company’s stock, valued at $125,380.51. The trade was a 36.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 233,108 shares of company stock valued at $3,683,448. 7.50% of the stock is owned by corporate insiders.

About Upwork

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.