Upwork Inc. (NASDAQ:UPWK) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp raised its holdings in Upwork Inc. (NASDAQ:UPWK) by 1.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 263,802 shares of the company’s stock after buying an additional 2,636 shares during the period. King Luther Capital Management Corp’s holdings in Upwork were worth $4,313,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Invenomic Capital Management LP grew its holdings in shares of Upwork by 12.5% during the third quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company’s stock worth $24,397,000 after purchasing an additional 260,274 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Upwork by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,946 shares of the company’s stock worth $17,592,000 after purchasing an additional 64,438 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Upwork during the third quarter worth about $8,369,000. Circumference Group LLC grew its holdings in shares of Upwork by 16.1% during the third quarter. Circumference Group LLC now owns 540,000 shares of the company’s stock worth $5,643,000 after purchasing an additional 75,000 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Upwork by 2,216.8% during the third quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company’s stock worth $5,263,000 after purchasing an additional 481,942 shares during the last quarter. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Upwork Price Performance

Shares of UPWK opened at $13.56 on Thursday. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14. The stock’s 50 day moving average is $15.86 and its two-hundred day moving average is $14.13. The firm has a market capitalization of $1.84 billion, a PE ratio of 8.86 and a beta of 1.61. 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 announced its quarterly earnings data 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%. Research analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current year.

Insider Activity

In other news, CFO Erica Gessert sold 4,279 shares of Upwork stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $17.11, for a total transaction of $73,213.69. Following the completion of the sale, the chief financial officer now directly owns 133,093 shares in the company, valued at approximately $2,277,221.23. This trade represents a 3.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hayden Brown sold 8,997 shares of Upwork stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $17.12, for a total value of $154,028.64. Following the transaction, the chief executive officer now owns 1,238,156 shares of the company’s stock, valued at $21,197,230.72. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 288,187 shares of company stock worth $4,769,213. Company insiders own 7.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on UPWK shares. Scotiabank started coverage on Upwork in a report on Wednesday. They set a “sector perform” rating and a $15.00 price objective on the stock. Citigroup raised their price objective on Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Needham & Company LLC raised their price target on Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Roth Mkm lowered their price target on Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Jefferies Financial Group raised their price target on Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Upwork currently has an average rating of “Moderate Buy” and a consensus target price of $18.58.

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.