Creative Planning Takes $207,000 Position in Upwork Inc. (NASDAQ:UPWK)

Creative Planning bought a new stake in Upwork Inc. (NASDAQ:UPWK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,855 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds have also recently added to or reduced their stakes in UPWK. Divisadero Street Capital Management LP grew its stake in shares of Upwork by 32.9% in the 2nd quarter. Divisadero Street Capital Management LP now owns 3,320,912 shares of the company’s stock valued at $35,700,000 after purchasing an additional 822,518 shares during the period. Vanguard Group Inc. boosted its stake in Upwork by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock valued at $196,115,000 after buying an additional 770,088 shares in the last quarter. Acadian Asset Management LLC grew its position in Upwork by 71.0% in the second quarter. Acadian Asset Management LLC now owns 1,635,602 shares of the company’s stock valued at $17,572,000 after acquiring an additional 679,028 shares during the period. Invenomic Capital Management LP raised its stake in Upwork by 132.5% during the first quarter. Invenomic Capital Management LP now owns 964,641 shares of the company’s stock worth $11,826,000 after acquiring an additional 549,733 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Upwork by 27.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,806,969 shares of the company’s stock valued at $19,424,000 after acquiring an additional 389,006 shares during the period. Institutional investors and hedge funds own 77.71% of the company’s stock.

Insider Activity at Upwork

In other Upwork news, CEO Hayden Brown sold 31,506 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $9.65, for a total transaction of $304,032.90. Following the completion of the sale, the chief executive officer now owns 1,190,561 shares in the company, valued at approximately $11,488,913.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Upwork news, CFO Erica Gessert sold 20,353 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $9.65, for a total transaction of $196,406.45. Following the transaction, the chief financial officer now owns 107,313 shares in the company, valued at approximately $1,035,570.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hayden Brown sold 31,506 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $9.65, for a total value of $304,032.90. Following the completion of the sale, the chief executive officer now directly owns 1,190,561 shares of the company’s stock, valued at approximately $11,488,913.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 176,417 shares of company stock worth $1,796,843 over the last ninety days. Company insiders own 7.60% of the company’s stock.

Upwork Trading Down 2.0 %

UPWK stock opened at $15.93 on Monday. The company has a quick ratio of 3.00, a current ratio of 3.18 and a debt-to-equity ratio of 0.87. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $17.79. The company has a market cap of $2.13 billion, a P/E ratio of 25.29 and a beta of 1.49. The business has a fifty day moving average of $11.12 and a 200-day moving average of $10.99.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. The firm had revenue of $193.78 million during the quarter, compared to analysts’ expectations of $185.55 million. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 EPS. As a group, equities research analysts expect that Upwork Inc. will post 0.51 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on UPWK. The Goldman Sachs Group upped their target price on shares of Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group decreased their price objective on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Canaccord Genuity Group lifted their target price on shares of Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada decreased their price target on Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price target (up from $13.00) on shares of Upwork in a report on Thursday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Upwork Profile

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.