MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $1.16 Million Holdings in Upwork Inc. (NASDAQ:UPWK)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Upwork Inc. (NASDAQ:UPWK) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,867 shares of the company’s stock after purchasing an additional 2,695 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.05% of Upwork worth $1,159,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in Upwork in the 4th quarter valued at about $1,874,000. Graham Capital Management L.P. bought a new position in Upwork in the fourth quarter valued at approximately $776,000. Focus Partners Wealth acquired a new position in Upwork during the fourth quarter valued at approximately $377,000. Ethic Inc. acquired a new position in Upwork during the fourth quarter valued at approximately $229,000. Finally, D. E. Shaw & Co. Inc. lifted its stake in Upwork by 281.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 184,116 shares of the company’s stock worth $3,010,000 after purchasing an additional 135,795 shares during the last quarter. 77.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on UPWK. Jefferies Financial Group dropped their target price on shares of Upwork from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 7th. Roth Mkm dropped their price objective on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 target price on shares of Upwork in a research report on Tuesday, May 6th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price target on shares of Upwork in a report on Tuesday, May 6th. Finally, BTIG Research downgraded Upwork from a “buy” rating to a “neutral” rating in a report on Friday, April 4th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.67.

Upwork Trading Down 2.9%

Shares of Upwork stock opened at $15.75 on Monday. The company has a market capitalization of $2.07 billion, a P/E ratio of 10.29 and a beta of 1.52. The stock has a fifty day simple moving average of $14.05 and a 200 day simple moving average of $15.29. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62.

Upwork (NASDAQ:UPWK) last posted its earnings results on Monday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.09. Upwork had a net margin of 28.02% and a return on equity of 50.83%. The firm had revenue of $192.71 million during the quarter, compared to analyst estimates of $188.49 million. During the same quarter in the prior year, the business posted $0.22 EPS. The business’s revenue was up .9% compared to the same quarter last year. On average, sell-side analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Upwork

In other news, insider Dave Bottoms sold 5,411 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas Layton sold 250,000 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $17.47, for a total transaction of $4,367,500.00. Following the completion of the transaction, the director now directly owns 1,867,769 shares in the company, valued at $32,629,924.43. This trade represents a 11.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 566,868 shares of company stock worth $9,478,580. Insiders own 7.50% of the company’s stock.

Upwork Company 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.