Upwork Inc. (NASDAQ:UPWK) Shares Acquired by Two Sigma Investments LP

Two Sigma Investments LP boosted its stake in Upwork Inc. (NASDAQ:UPWK) by 49.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,436,680 shares of the company’s stock after buying an additional 803,929 shares during the period. Two Sigma Investments LP owned 1.82% of Upwork worth $39,840,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of UPWK. Nkcfo LLC acquired a new stake in shares of Upwork in the fourth quarter valued at $82,000. SBI Securities Co. Ltd. bought a new stake in shares of Upwork in the 4th quarter worth approximately $84,000. KBC Group NV boosted its holdings in Upwork by 39.6% during the fourth quarter. KBC Group NV now owns 6,690 shares of the company’s stock worth $109,000 after buying an additional 1,899 shares in the last quarter. State of Tennessee Department of Treasury acquired a new position in Upwork in the fourth quarter worth approximately $180,000. Finally, Cibc World Markets Corp bought a new position in shares of Upwork in the fourth quarter valued at $191,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Insider Buying and Selling

In other news, insider Dave Bottoms sold 2,130 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $16.66, for a total transaction of $35,485.80. Following the completion of the sale, the insider now owns 1,620 shares of the company’s stock, valued at approximately $26,989.20. This trade represents a 56.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Hayden Brown sold 60,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $14.20, for a total transaction of $852,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,215,083 shares of the company’s stock, valued at approximately $17,254,178.60. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 563,593 shares of company stock valued at $9,424,837 over the last quarter. Corporate insiders own 7.50% of the company’s stock.

Upwork Stock Down 0.5%

UPWK stock opened at $16.46 on Wednesday. The company has a 50 day moving average of $13.87 and a two-hundred day moving average of $15.25. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 10.76 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 quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The business had revenue of $192.71 million for the quarter, compared to the consensus estimate of $188.49 million. Upwork had a net margin of 28.02% and a return on equity of 50.83%. Upwork’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 earnings per share. On average, equities analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Jefferies Financial Group decreased their target price on Upwork from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Roth Mkm cut their price objective on Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Upwork in a report on Tuesday, May 6th. BTIG Research downgraded shares of Upwork from a “buy” rating to a “neutral” rating in a research report on Friday, April 4th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price target on shares of Upwork in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Upwork has a consensus rating of “Moderate Buy” and a consensus price target of $18.67.

Upwork Company 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.