Landscape Capital Management L.L.C. Buys Shares of 135,898 Upwork Inc. (NASDAQ:UPWK)

Landscape Capital Management L.L.C. bought a new position in shares of Upwork Inc. (NASDAQ:UPWK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 135,898 shares of the company’s stock, valued at approximately $2,222,000. Landscape Capital Management L.L.C. owned 0.10% of Upwork as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in Upwork by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,011,508 shares of the company’s stock worth $10,570,000 after acquiring an additional 14,680 shares during the period. BNP Paribas Financial Markets raised its position in shares of Upwork by 40.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company’s stock worth $2,630,000 after purchasing an additional 73,104 shares during the period. Holocene Advisors LP acquired a new position in Upwork during the 3rd quarter valued at approximately $282,000. Janus Henderson Group PLC grew its stake in Upwork by 34.6% during the 3rd quarter. Janus Henderson Group PLC now owns 68,070 shares of the company’s stock worth $712,000 after buying an additional 17,482 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in Upwork by 2,216.8% in the third quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company’s stock worth $5,263,000 after buying an additional 481,942 shares during the period. 77.71% of the stock is currently owned by institutional investors.

Upwork Price Performance

Shares of NASDAQ:UPWK opened at $11.87 on Friday. The company has a market capitalization of $1.61 billion, a PE ratio of 7.76 and a beta of 1.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The stock has a fifty day moving average of $14.77 and a 200-day moving average of $14.52. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14.

Upwork (NASDAQ:UPWK) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share 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%. As a group, equities analysts anticipate that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Insider Activity at Upwork

In other news, CFO Erica Gessert sold 13,765 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total value of $222,304.75. Following the transaction, the chief financial officer now owns 156,828 shares in the company, valued at $2,532,772.20. This represents a 8.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dave Bottoms sold 5,411 shares of the firm’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 transaction of $70,721.77. Following the sale, the insider now owns 9,593 shares of the company’s stock, valued at approximately $125,380.51. This represents a 36.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 193,365 shares of company stock worth $3,050,760. 7.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Scotiabank began coverage on shares of Upwork in a research report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price target for the company. Roth Mkm dropped their price target on shares of Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Royal Bank of Canada boosted their price objective on Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Needham & Company LLC raised their target price on Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, UBS Group boosted their price target on Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.58.

About Upwork

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.