Dynamic Technology Lab Private Ltd Boosts Stock Position in Upwork Inc. (NASDAQ:UPWK)

Dynamic Technology Lab Private Ltd lifted its position in shares of Upwork Inc. (NASDAQ:UPWKFree Report) by 43.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,665 shares of the company’s stock after purchasing an additional 5,375 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Upwork were worth $262,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Upwork by 5.1% during the third quarter. Vanguard Group Inc. now owns 14,565,252 shares of the company’s stock worth $165,461,000 after purchasing an additional 702,595 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Upwork by 120.8% during the fourth quarter. BNP Paribas Financial Markets now owns 526,984 shares of the company’s stock worth $7,836,000 after purchasing an additional 288,330 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Upwork by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 956,370 shares of the company’s stock worth $10,864,000 after buying an additional 43,081 shares in the last quarter. Graham Capital Management L.P. raised its stake in Upwork by 143.1% in the third quarter. Graham Capital Management L.P. now owns 115,738 shares of the company’s stock worth $1,315,000 after buying an additional 68,124 shares in the last quarter. Finally, Citigroup Inc. raised its stake in Upwork by 58.4% in the third quarter. Citigroup Inc. now owns 182,603 shares of the company’s stock worth $2,074,000 after buying an additional 67,308 shares in the last quarter. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Olivier Marie sold 3,106 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $12.13, for a total transaction of $37,675.78. Following the sale, the chief accounting officer now owns 7,565 shares in the company, valued at $91,763.45. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, VP Dave Bottoms sold 2,379 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $11.73, for a total value of $27,905.67. Following the sale, the vice president now owns 2,326 shares in the company, valued at $27,283.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Olivier Marie sold 3,106 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $12.13, for a total transaction of $37,675.78. Following the completion of the sale, the chief accounting officer now owns 7,565 shares in the company, valued at approximately $91,763.45. The disclosure for this sale can be found here. Insiders have sold a total of 203,385 shares of company stock worth $2,389,910 over the last 90 days. 7.60% of the stock is currently owned by insiders.

Upwork Price Performance

Shares of NASDAQ UPWK opened at $11.14 on Tuesday. Upwork Inc. has a fifty-two week low of $7.54 and a fifty-two week high of $16.36. The company has a 50 day simple moving average of $11.88 and a two-hundred day simple moving average of $13.29. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 31.83 and a beta of 1.66. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.93 and a current ratio of 2.93.

Upwork (NASDAQ:UPWKGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Upwork had a net margin of 6.70% and a return on equity of 13.96%. The firm had revenue of $190.94 million for the quarter, compared to analysts’ expectations of $186.71 million. Analysts expect that Upwork Inc. will post 0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on UPWK. JMP Securities increased their price target on shares of Upwork from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 15th. Royal Bank of Canada decreased their price target on shares of Upwork from $18.00 to $15.00 and set a “sector perform” rating for the company in a research note on Thursday, May 2nd. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Upwork in a research note on Wednesday, May 15th. Roth Mkm reissued a “buy” rating and issued a $19.00 price target on shares of Upwork in a research note on Wednesday, May 15th. Finally, BTIG Research raised shares of Upwork from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.80.

Check Out Our Latest Report on UPWK

Upwork Company Profile

(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 administrative support, sales and marketing, design and creative, and customer service, as well as web, mobile, and software development.

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Institutional Ownership by Quarter for Upwork (NASDAQ:UPWK)

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