Vanguard Group Inc. Has $197.73 Million Stock Holdings in Upwork Inc. $UPWK

Vanguard Group Inc. lessened its stake in Upwork Inc. (NASDAQ:UPWK) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,151,849 shares of the company’s stock after selling 218,570 shares during the quarter. Vanguard Group Inc. owned 11.19% of Upwork worth $197,732,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. increased its stake in Upwork by 5.7% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 27,228 shares of the company’s stock valued at $347,000 after buying an additional 1,465 shares during the period. The Manufacturers Life Insurance Company grew its position in Upwork by 3.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 67,716 shares of the company’s stock worth $1,107,000 after acquiring an additional 2,148 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Upwork by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,867 shares of the company’s stock worth $1,159,000 after acquiring an additional 2,695 shares in the last quarter. Wells Fargo & Company MN grew its position in Upwork by 5.7% in the fourth quarter. Wells Fargo & Company MN now owns 65,775 shares of the company’s stock worth $1,075,000 after acquiring an additional 3,543 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in Upwork by 5.1% in the fourth quarter. MetLife Investment Management LLC now owns 75,934 shares of the company’s stock worth $1,242,000 after acquiring an additional 3,692 shares in the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Upwork Price Performance

NASDAQ UPWK opened at $13.86 on Wednesday. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $13.30 and a 200 day simple moving average of $14.14. The company has a market cap of $1.84 billion, a P/E ratio of 7.97 and a beta of 1.38. Upwork Inc. has a 1 year low of $8.90 and a 1 year high of $18.14.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.09. The business had revenue of $194.94 million during the quarter, compared to the consensus estimate of $187.56 million. Upwork had a net margin of 31.75% and a return on equity of 44.83%. Upwork’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. On average, sell-side analysts predict that Upwork Inc. will post 0.84 EPS for the current year.

Insider Transactions at Upwork

In other Upwork news, insider Dave Bottoms sold 11,562 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $13.51, for a total value of $156,202.62. Following the completion of the sale, the insider directly owned 9,345 shares of the company’s stock, valued at $126,250.95. This represents a 55.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Olivier Marie sold 1,879 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $13.50, for a total transaction of $25,366.50. Following the completion of the sale, the chief accounting officer directly owned 4,632 shares of the company’s stock, valued at approximately $62,532. This trade represents a 28.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,660 shares of company stock worth $2,021,932. 7.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on UPWK. Royal Bank Of Canada reissued a “sector perform” rating and issued a $18.00 target price on shares of Upwork in a research report on Monday, June 2nd. Citigroup reissued an “outperform” rating on shares of Upwork in a research report on Friday, May 16th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of Upwork in a research report on Tuesday, May 6th. Wall Street Zen downgraded shares of Upwork from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, JMP Securities boosted their target price on shares of Upwork from $18.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, May 16th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Upwork has a consensus rating of “Moderate Buy” and an average price target of $18.67.

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.