Boston Partners Has $3.52 Million Position in Upwork Inc. $UPWK

Boston Partners boosted its stake in Upwork Inc. (NASDAQ:UPWK) by 61.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 262,219 shares of the company’s stock after purchasing an additional 99,941 shares during the quarter. Boston Partners owned about 0.20% of Upwork worth $3,524,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC boosted its position in shares of Upwork by 415.9% during the 2nd quarter. LRI Investments LLC now owns 2,528 shares of the company’s stock worth $34,000 after purchasing an additional 2,038 shares in the last quarter. EMC Capital Management acquired a new position in Upwork during the 2nd quarter worth approximately $45,000. Alpine Global Management LLC bought a new position in Upwork in the first quarter worth approximately $130,000. SeaCrest Wealth Management LLC boosted its holdings in Upwork by 8.0% in the second quarter. SeaCrest Wealth Management LLC now owns 10,800 shares of the company’s stock worth $145,000 after acquiring an additional 800 shares in the last quarter. Finally, Ethic Inc. grew its stake in Upwork by 11.1% in the second quarter. Ethic Inc. now owns 14,393 shares of the company’s stock valued at $196,000 after acquiring an additional 1,443 shares during the period. 77.71% of the stock is owned by institutional investors.

Upwork Stock Performance

Upwork stock opened at $19.76 on Friday. Upwork Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $20.54. The firm’s 50-day simple moving average is $17.51 and its 200 day simple moving average is $15.61. The stock has a market cap of $2.58 billion, a PE ratio of 11.29 and a beta of 1.57.

Upwork (NASDAQ:UPWK) last posted its earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $201.73 million for the quarter, compared to the consensus estimate of $193.33 million. Upwork had a return on equity of 41.05% and a net margin of 31.63%.Upwork’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS. Upwork has set its FY 2025 guidance at 1.350-1.370 EPS. Q4 2025 guidance at 0.310-0.330 EPS. As a group, analysts predict that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Upwork declared that its board has authorized a share buyback plan on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Upwork news, insider Dave Bottoms sold 10,894 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $19.16, for a total value of $208,729.04. Following the completion of the transaction, the insider owned 10,359 shares in the company, valued at $198,478.44. This represents a 51.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary Steele sold 12,500 shares of Upwork stock in a transaction on Friday, November 21st. The stock was sold at an average price of $17.51, for a total value of $218,875.00. Following the sale, the director owned 85,129 shares in the company, valued at $1,490,608.79. The trade was a 12.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 582,132 shares of company stock worth $11,080,002 in the last ninety days. Company insiders own 7.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on UPWK. Wall Street Zen upgraded Upwork from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Canaccord Genuity Group upped their price objective on shares of Upwork from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Upwork in a research note on Wednesday, November 19th. Scotiabank boosted their target price on shares of Upwork from $15.00 to $17.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 4th. Finally, UBS Group upped their target price on shares of Upwork from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.92.

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.