American Century Companies Inc. Grows Stock Holdings in Upwork Inc. (NASDAQ:UPWK)

American Century Companies Inc. increased its stake in Upwork Inc. (NASDAQ:UPWK) by 6.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,103 shares of the company’s stock after purchasing an additional 3,491 shares during the quarter. American Century Companies Inc.’s holdings in Upwork were worth $950,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in UPWK. KBC Group NV lifted its holdings in shares of Upwork by 39.6% during the 4th quarter. KBC Group NV now owns 6,690 shares of the company’s stock valued at $109,000 after buying an additional 1,899 shares during the period. Rhumbline Advisers lifted its holdings in Upwork by 1.4% in the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock valued at $2,914,000 after acquiring an additional 2,387 shares during the period. King Luther Capital Management Corp boosted its position in Upwork by 1.0% in the fourth quarter. King Luther Capital Management Corp now owns 263,802 shares of the company’s stock worth $4,313,000 after purchasing an additional 2,636 shares during the last quarter. Stoneridge Investment Partners LLC grew its stake in shares of Upwork by 19.9% during the 4th quarter. Stoneridge Investment Partners LLC now owns 16,566 shares of the company’s stock valued at $271,000 after purchasing an additional 2,744 shares during the period. Finally, Nkcfo LLC purchased a new stake in shares of Upwork during the 4th quarter valued at about $82,000. Institutional investors own 77.71% of the company’s stock.

Insider Transactions at Upwork

In other news, insider Dave Bottoms sold 5,411 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total value of $70,721.77. Following the completion of the sale, the insider now directly owns 9,593 shares of the company’s stock, valued at $125,380.51. This trade represents a 36.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Erica Gessert sold 4,316 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total value of $56,410.12. Following the transaction, the chief financial officer now directly owns 160,945 shares in the company, valued at approximately $2,103,551.15. This represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 193,365 shares of company stock valued at $3,050,760 in the last ninety days. Corporate insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of Upwork from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday. Scotiabank started coverage on shares of Upwork in a research report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price objective for the company. Needham & Company LLC raised their target price on Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. BTIG Research lowered Upwork from a “buy” rating to a “neutral” rating in a report on Friday, April 4th. Finally, JMP Securities restated a “market outperform” rating and issued a $18.00 price target on shares of Upwork in a research report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Upwork currently has an average rating of “Moderate Buy” and an average target price of $18.58.

Upwork Price Performance

UPWK stock opened at $12.63 on Friday. The company has a market capitalization of $1.71 billion, a PE ratio of 8.25 and a beta of 1.60. The company’s fifty day moving average price is $14.30 and its 200-day moving average price is $14.60. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. On average, equities analysts anticipate that Upwork Inc. will post 0.84 EPS for the current fiscal year.

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.