Tower Research Capital LLC TRC Has $211,000 Stock Position in Upwork Inc. (NASDAQ:UPWK)

Tower Research Capital LLC TRC raised its position in Upwork Inc. (NASDAQ:UPWK – Get Rating) by 47.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,505 shares of the company’s stock after acquiring an additional 4,966 shares during the period. Tower Research Capital LLC TRC’s holdings in Upwork were worth $211,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in UPWK. ATOMVEST Ltd acquired a new position in Upwork in the 2nd quarter valued at approximately $51,719,000. Capital International Investors raised its holdings in shares of Upwork by 77.4% in the 1st quarter. Capital International Investors now owns 1,378,604 shares of the company’s stock worth $32,039,000 after buying an additional 601,358 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of Upwork by 35.1% in the 2nd quarter. Macquarie Group Ltd. now owns 1,490,490 shares of the company’s stock worth $30,824,000 after buying an additional 387,212 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Upwork by 147.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 617,805 shares of the company’s stock worth $12,776,000 after buying an additional 368,446 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Upwork by 78.5% in the 2nd quarter. Millennium Management LLC now owns 689,978 shares of the company’s stock worth $14,269,000 after buying an additional 303,466 shares in the last quarter. Institutional investors and hedge funds own 74.05% of the company’s stock.

Insider Buying and Selling at Upwork

In other Upwork news, CEO Hayden Brown sold 30,677 shares of the stock in a transaction on Monday, December 19th. The stock was sold at an average price of $10.71, for a total value of $328,550.67. Following the transaction, the chief executive officer now directly owns 903,857 shares in the company, valued at approximately $9,680,308.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Eric Gilpin sold 11,331 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $11.47, for a total value of $129,966.57. Following the transaction, the insider now directly owns 51,188 shares in the company, valued at approximately $587,126.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hayden Brown sold 30,677 shares of the firm’s stock in a transaction on Monday, December 19th. The stock was sold at an average price of $10.71, for a total value of $328,550.67. Following the completion of the transaction, the chief executive officer now owns 903,857 shares in the company, valued at $9,680,308.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,300 shares of company stock worth $725,227. Insiders own 8.90% of the company’s stock.

Upwork Stock Up 3.8 %

Shares of UPWK opened at $12.21 on Monday. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -17.70 and a beta of 1.52. The company has a debt-to-equity ratio of 2.27, a quick ratio of 3.76 and a current ratio of 3.76. The business’s fifty day moving average price is $12.12 and its two-hundred day moving average price is $13.24. Upwork Inc. has a 52 week low of $9.79 and a 52 week high of $25.11.

Wall Street Analysts Forecast Growth

UPWK has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price (down from $19.00) on shares of Upwork in a report on Thursday, February 16th. Piper Sandler dropped their target price on Upwork from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, January 6th. The Goldman Sachs Group dropped their target price on Upwork from $24.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 17th. Citigroup started coverage on Upwork in a report on Tuesday, December 13th. They set a “neutral” rating for the company. Finally, BTIG Research dropped their price target on Upwork from $24.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, February 16th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Upwork currently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

About Upwork

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Upwork, Inc operates an online marketplace that enables businesses to find, hire, and pay freelancers for short-term and longer-term projects. Its marketplace offerings include Upwork Basic, Upwork Plus, Upwork Business, Upwork Enterprise, and Upwork Payroll. The company was founded by Odysseas Tsatalos and Efstratios Karamanlakis in December 2013 and is headquartered in San Francisco, CA.