WINTON GROUP Ltd Buys 4,727 Shares of Upwork Inc. (NASDAQ:UPWK)

WINTON GROUP Ltd raised its stake in shares of Upwork Inc. (NASDAQ:UPWKGet Rating) by 21.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,495 shares of the company’s stock after purchasing an additional 4,727 shares during the quarter. WINTON GROUP Ltd’s holdings in Upwork were worth $548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Van ECK Associates Corp lifted its position in Upwork by 10.0% during the second quarter. Van ECK Associates Corp now owns 6,002 shares of the company’s stock valued at $124,000 after purchasing an additional 544 shares during the last quarter. Harbor Investment Advisory LLC lifted its position in Upwork by 154.4% during the second quarter. Harbor Investment Advisory LLC now owns 1,323 shares of the company’s stock valued at $27,000 after purchasing an additional 803 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Upwork by 4.7% in the 1st quarter. Teacher Retirement System of Texas now owns 23,166 shares of the company’s stock worth $538,000 after acquiring an additional 1,041 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Upwork in the 2nd quarter worth approximately $27,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Upwork by 6.8% in the 1st quarter. Principal Financial Group Inc. now owns 21,427 shares of the company’s stock worth $498,000 after acquiring an additional 1,362 shares during the last quarter. 75.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on UPWK shares. Piper Sandler lowered their price objective on shares of Upwork from $30.00 to $20.00 in a report on Wednesday, October 26th. BTIG Research lowered their price objective on shares of Upwork from $30.00 to $24.00 in a report on Friday, September 23rd. Canaccord Genuity Group decreased their target price on shares of Upwork from $36.00 to $25.00 in a research note on Friday, October 28th. Royal Bank of Canada decreased their target price on shares of Upwork from $21.00 to $15.00 in a research note on Thursday, October 27th. Finally, JMP Securities decreased their target price on shares of Upwork from $33.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 27th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.08.

Insider Transactions at Upwork

In other news, CFO Jeff Mccombs sold 71,753 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $13.82, for a total value of $991,626.46. Following the sale, the chief financial officer now directly owns 84,109 shares of the company’s stock, valued at approximately $1,162,386.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Hayden Brown sold 32,050 shares of the company’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $15.21, for a total value of $487,480.50. Following the sale, the chief executive officer now directly owns 868,251 shares of the company’s stock, valued at approximately $13,206,097.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeff Mccombs sold 71,753 shares of the company’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $13.82, for a total transaction of $991,626.46. Following the completion of the transaction, the chief financial officer now owns 84,109 shares in the company, valued at approximately $1,162,386.38. The disclosure for this sale can be found here. Insiders have sold 106,393 shares of company stock valued at $1,515,159 in the last three months. 8.90% of the stock is currently owned by company insiders.

Upwork Stock Down 7.1 %

NASDAQ:UPWK opened at $12.16 on Friday. The firm’s 50-day moving average price is $13.87 and its 200-day moving average price is $17.48. The company has a market capitalization of $1.60 billion, a PE ratio of -16.43 and a beta of 1.48. The company has a debt-to-equity ratio of 2.32, a current ratio of 3.69 and a quick ratio of 3.69. Upwork Inc. has a 1-year low of $11.39 and a 1-year high of $42.79.

About Upwork

(Get Rating)

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.

Read More

Institutional Ownership by Quarter for Upwork (NASDAQ:UPWK)

Receive News & Ratings for Upwork Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Upwork and related companies with MarketBeat.com's FREE daily email newsletter.