Upwork Inc. (NASDAQ:UPWK) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its position in Upwork Inc. (NASDAQ:UPWK) by 36.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,289 shares of the company’s stock after selling 1,882 shares during the quarter. Federated Hermes Inc.’s holdings in Upwork were worth $54,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. KBC Group NV increased its stake in Upwork by 39.6% during the fourth quarter. KBC Group NV now owns 6,690 shares of the company’s stock worth $109,000 after purchasing an additional 1,899 shares during the period. Rhumbline Advisers increased its stake in Upwork by 1.4% during the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock worth $2,914,000 after buying an additional 2,387 shares during the period. King Luther Capital Management Corp lifted its holdings in Upwork by 1.0% during the 4th quarter. King Luther Capital Management Corp now owns 263,802 shares of the company’s stock worth $4,313,000 after buying an additional 2,636 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in Upwork by 0.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 349,800 shares of the company’s stock worth $5,719,000 after buying an additional 2,700 shares in the last quarter. Finally, Stoneridge Investment Partners LLC boosted its position in Upwork by 19.9% in the 4th quarter. Stoneridge Investment Partners LLC now owns 16,566 shares of the company’s stock valued at $271,000 after buying an additional 2,744 shares during the period. Institutional investors and hedge funds own 77.71% of the company’s stock.

Upwork Stock Performance

Shares of UPWK stock opened at $12.74 on Friday. The stock’s 50-day moving average is $13.96 and its two-hundred day moving average is $14.70. 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 Inc. has a 1 year low of $8.43 and a 1 year high of $18.14. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 8.33 and a beta of 1.60.

Upwork (NASDAQ:UPWK) last announced its earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. Analysts predict that Upwork Inc. will post 0.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on UPWK shares. Needham & Company LLC increased their price objective on Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $18.00 price target on shares of Upwork in a research report on Thursday, January 30th. Scotiabank began coverage on shares of Upwork in a report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group dropped their target price on Upwork from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.58.

Insider Activity at Upwork

In other news, insider Dave Bottoms sold 5,411 shares of the business’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 transaction, the insider now owns 9,593 shares of the company’s stock, valued at approximately $125,380.51. The trade was a 36.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hayden Brown sold 21,122 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total value of $341,120.30. Following the sale, the chief executive officer now owns 1,275,083 shares of the company’s stock, valued at $20,592,590.45. This trade represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 193,365 shares of company stock worth $3,050,760 in the last 90 days. 7.60% of the stock is owned by insiders.

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.