Upwork Inc. (NASDAQ:UPWK) Shares Sold by AIA Group Ltd

AIA Group Ltd decreased its stake in shares of Upwork Inc. (NASDAQ:UPWKFree Report) by 32.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,912 shares of the company’s stock after selling 53,145 shares during the quarter. AIA Group Ltd owned about 0.08% of Upwork worth $1,237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in UPWK. Carson Advisory Inc. acquired a new stake in Upwork during the 2nd quarter worth about $677,000. Russell Investments Group Ltd. boosted its position in Upwork by 575.3% in the first quarter. Russell Investments Group Ltd. now owns 2,600 shares of the company’s stock valued at $29,000 after buying an additional 2,215 shares during the last quarter. Quarry LP increased its holdings in Upwork by 92.5% in the 1st quarter. Quarry LP now owns 3,486 shares of the company’s stock worth $39,000 after buying an additional 1,675 shares during the period. CWM LLC raised its position in Upwork by 107.1% during the 3rd quarter. CWM LLC now owns 4,323 shares of the company’s stock worth $49,000 after buying an additional 2,236 shares during the last quarter. Finally, UBS Group AG lifted its stake in Upwork by 30.7% during the 3rd quarter. UBS Group AG now owns 4,634 shares of the company’s stock valued at $63,000 after acquiring an additional 1,089 shares during the period. Hedge funds and other institutional investors own 75.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on UPWK shares. Jefferies Financial Group upgraded shares of Upwork from a “hold” rating to a “buy” rating and boosted their target price for the company from $13.00 to $20.00 in a research report on Monday, January 8th. Needham & Company LLC raised their target price on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Royal Bank of Canada boosted their price target on Upwork from $11.00 to $17.00 and gave the company a “sector perform” rating in a report on Wednesday, November 8th. TheStreet raised shares of Upwork from a “d+” rating to a “c-” rating in a research note on Wednesday, December 27th. Finally, UBS Group assumed coverage on shares of Upwork in a report on Wednesday, October 4th. They set a “neutral” rating and a $13.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.55.

Check Out Our Latest Stock Analysis on UPWK

Upwork Price Performance

Shares of Upwork stock opened at $14.40 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 3.20 and a quick ratio of 3.20. The business has a 50 day simple moving average of $14.46 and a two-hundred day simple moving average of $12.86. The stock has a market capitalization of $1.96 billion, a P/E ratio of -75.79 and a beta of 1.70. Upwork Inc. has a 12 month low of $6.56 and a 12 month high of $16.36.

Upwork (NASDAQ:UPWKGet Free Report) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.10. The company had revenue of $175.73 million for the quarter, compared to analyst estimates of $168.84 million. Upwork had a return on equity of 4.38% and a net margin of 1.95%. As a group, analysts predict that Upwork Inc. will post 0.05 EPS for the current fiscal year.

Insider Activity at Upwork

In other Upwork news, CAO Olivier Marie sold 3,105 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $14.09, for a total value of $43,749.45. Following the completion of the sale, the chief accounting officer now directly owns 4,338 shares in the company, valued at approximately $61,122.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Upwork news, CAO Olivier Marie sold 3,105 shares of Upwork stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $14.09, for a total transaction of $43,749.45. Following the transaction, the chief accounting officer now directly owns 4,338 shares of the company’s stock, valued at $61,122.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hayden Brown sold 22,177 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $14.40, for a total transaction of $319,348.80. Following the sale, the chief executive officer now owns 1,079,891 shares of the company’s stock, valued at approximately $15,550,430.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,897 shares of company stock valued at $1,069,918. Corporate insiders own 9.00% of the company’s stock.

About Upwork

(Free Report)

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 sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.

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Institutional Ownership by Quarter for Upwork (NASDAQ:UPWK)

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