Upwork Inc. (NASDAQ:UPWK) Shares Acquired by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP lifted its position in Upwork Inc. (NASDAQ:UPWK) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 191,321 shares of the company’s stock after purchasing an additional 16,062 shares during the quarter. Advantage Alpha Capital Partners LP owned approximately 0.14% of Upwork worth $3,128,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV lifted its stake in Upwork by 45.4% in the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after buying an additional 1,497 shares during the last quarter. Quarry LP increased its holdings in shares of Upwork by 42.6% in the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after acquiring an additional 1,851 shares during the period. Nkcfo LLC purchased a new stake in Upwork in the 4th quarter valued at $82,000. SBI Securities Co. Ltd. acquired a new stake in Upwork during the 4th quarter worth $84,000. Finally, Financial Management Professionals Inc. purchased a new position in Upwork during the 4th quarter worth $97,000. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Insider Activity

In related news, CFO Erica Gessert sold 13,765 shares of Upwork stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total transaction of $222,304.75. Following the sale, the chief financial officer now directly owns 156,828 shares in the company, valued at $2,532,772.20. The trade was a 8.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the insider now directly owns 9,593 shares in the company, valued at approximately $125,380.51. The trade was a 36.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 193,365 shares of company stock valued at $3,050,760. 7.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on UPWK shares. Jefferies Financial Group increased their target price on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. JMP Securities reaffirmed a “market outperform” rating and set a $18.00 price objective on shares of Upwork in a research report on Thursday, January 30th. Royal Bank of Canada lifted their target price on Upwork from $16.00 to $18.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Roth Mkm cut their price target on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Scotiabank started coverage on shares of Upwork in a research note on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.58.

Upwork Price Performance

Upwork stock opened at $13.57 on Monday. The firm has a fifty day moving average of $15.39 and a 200-day moving average of $14.33. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14. The firm has a market capitalization of $1.84 billion, a P/E ratio of 8.87 and a beta of 1.61.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. As a group, analysts predict that Upwork Inc. will post 0.84 EPS for the current 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.