Capstone Investment Advisors LLC Invests $152,000 in Upwork Inc. (NASDAQ:UPWK)

Capstone Investment Advisors LLC acquired a new stake in Upwork Inc. (NASDAQ:UPWKFree Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,395 shares of the company’s stock, valued at approximately $152,000.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Upwork by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 15,226,218 shares of the company’s stock worth $226,414,000 after purchasing an additional 660,966 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Upwork by 239.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock valued at $33,491,000 after buying an additional 1,589,693 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Upwork in the fourth quarter valued at about $19,082,000. Charles Schwab Investment Management Inc. raised its position in shares of Upwork by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 977,073 shares of the company’s stock worth $14,529,000 after acquiring an additional 20,703 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Upwork in the fourth quarter worth approximately $11,486,000. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Upwork news, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Upwork news, Director Elizabeth A. Nelson sold 70,000 shares of Upwork stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $11.79, for a total value of $825,300.00. Following the sale, the director now owns 32,616 shares of the company’s stock, valued at $384,542.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Dave Bottoms sold 2,843 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $13.22, for a total transaction of $37,584.46. The disclosure for this sale can be found here. Insiders sold a total of 195,337 shares of company stock valued at $2,269,408 over the last three months. Corporate insiders own 7.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on UPWK shares. UBS Group assumed coverage on shares of Upwork in a research report on Tuesday, July 2nd. They set a “neutral” rating and a $12.00 target price for the company. Roth Mkm reissued a “buy” rating and set a $19.00 target price on shares of Upwork in a research note on Wednesday, May 15th. BTIG Research raised shares of Upwork from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Thursday, May 2nd. Royal Bank of Canada lowered their price objective on Upwork from $18.00 to $15.00 and set a “sector perform” rating for the company in a research report on Thursday, May 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Upwork in a research note on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Upwork currently has an average rating of “Moderate Buy” and an average target price of $17.20.

Read Our Latest Stock Report on UPWK

Upwork Stock Performance

NASDAQ UPWK opened at $10.78 on Thursday. The company has a fifty day moving average price of $11.12 and a 200-day moving average price of $12.48. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 30.80 and a beta of 1.57. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.93 and a quick ratio of 2.93. Upwork Inc. has a 1 year low of $9.22 and a 1 year high of $16.36.

Upwork (NASDAQ:UPWKGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $190.94 million for the quarter, compared to analysts’ expectations of $186.71 million. Upwork had a net margin of 6.70% and a return on equity of 13.96%. As a group, equities research analysts predict that Upwork Inc. will post 0.52 EPS for the current fiscal year.

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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