US Bancorp DE Has $956,000 Stake in Upwork Inc. (NASDAQ:UPWK)

US Bancorp DE lowered its position in Upwork Inc. (NASDAQ:UPWKFree Report) by 25.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,308 shares of the company’s stock after selling 21,851 shares during the period. US Bancorp DE’s holdings in Upwork were worth $956,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Aigen Investment Management LP raised its holdings in shares of Upwork by 99.2% in the fourth quarter. Aigen Investment Management LP now owns 77,744 shares of the company’s stock valued at $1,156,000 after buying an additional 38,711 shares during the last quarter. Corient Private Wealth LLC increased its position in Upwork by 30.7% in the 4th quarter. Corient Private Wealth LLC now owns 72,038 shares of the company’s stock valued at $1,071,000 after acquiring an additional 16,918 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of Upwork by 43.7% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 17,665 shares of the company’s stock worth $262,000 after acquiring an additional 5,375 shares during the last quarter. Norges Bank acquired a new position in shares of Upwork during the fourth quarter worth approximately $11,486,000. Finally, Mizuho Markets Americas LLC grew its stake in shares of Upwork by 10.5% during the fourth quarter. Mizuho Markets Americas LLC now owns 94,443 shares of the company’s stock valued at $1,404,000 after purchasing an additional 9,000 shares during the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Upwork

In other news, VP Dave Bottoms sold 2,843 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $13.22, for a total value of $37,584.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Elizabeth A. Nelson sold 70,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $11.79, for a total transaction of $825,300.00. Following the sale, the director now owns 32,616 shares of the company’s stock, valued at approximately $384,542.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Dave Bottoms sold 2,843 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $13.22, for a total value of $37,584.46. The disclosure for this sale can be found here. Insiders have sold a total of 204,548 shares of company stock worth $2,402,459 over the last 90 days. Insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Roth Mkm restated a “buy” rating and issued a $19.00 price objective on shares of Upwork in a research report on Wednesday, May 15th. UBS Group boosted their target price on Upwork from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Royal Bank of Canada decreased their price target on Upwork from $18.00 to $15.00 and set a “sector perform” rating on the stock in a report on Thursday, May 2nd. Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of Upwork in a report on Wednesday, May 15th. Finally, BTIG Research raised shares of Upwork from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.80.

Check Out Our Latest Report on UPWK

Upwork Trading Down 2.9 %

UPWK stock opened at $10.25 on Wednesday. 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 Inc. has a 52 week low of $8.32 and a 52 week high of $16.36. The company’s 50-day simple moving average is $11.71 and its 200 day simple moving average is $13.17. The company has a market capitalization of $1.36 billion, a PE ratio of 29.29 and a beta of 1.56.

Upwork (NASDAQ:UPWKGet Free Report) last issued its earnings results on Wednesday, May 1st. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Upwork had a return on equity of 13.96% and a net margin of 6.70%. The firm had revenue of $190.94 million for the quarter, compared to the consensus estimate of $186.71 million. As a group, sell-side analysts anticipate that Upwork Inc. will post 0.52 earnings per share for the current year.

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 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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