SkyView Investment Advisors LLC Has $2.14 Million Holdings in Upwork Inc. (NASDAQ:UPWK)

SkyView Investment Advisors LLC raised its position in shares of Upwork Inc. (NASDAQ:UPWK) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 198,736 shares of the company’s stock after buying an additional 12,343 shares during the period. SkyView Investment Advisors LLC’s holdings in Upwork were worth $2,136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. New Century Financial Group LLC bought a new stake in Upwork during the 1st quarter worth approximately $1,083,000. Vanguard Group Inc. boosted its stake in Upwork by 5.1% in the first quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock worth $196,115,000 after purchasing an additional 770,088 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Upwork by 239.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock worth $33,491,000 after purchasing an additional 1,589,693 shares during the last quarter. Csenge Advisory Group acquired a new stake in shares of Upwork in the first quarter valued at $1,344,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Upwork in the first quarter valued at $3,165,000. Institutional investors own 77.71% of the company’s stock.

Insider Buying and Selling at Upwork

In other news, CEO Hayden Brown sold 31,506 shares of Upwork stock in a transaction on Monday, August 19th. The shares were sold at an average price of $9.65, for a total transaction of $304,032.90. Following the transaction, the chief executive officer now directly owns 1,190,561 shares of the company’s stock, valued at $11,488,913.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Hayden Brown sold 31,506 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $9.65, for a total transaction of $304,032.90. Following the sale, the chief executive officer now owns 1,190,561 shares of the company’s stock, valued at $11,488,913.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Erica Gessert sold 20,353 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $9.65, for a total value of $196,406.45. Following the completion of the transaction, the chief financial officer now owns 107,313 shares of the company’s stock, valued at $1,035,570.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 176,785 shares of company stock valued at $1,800,489. Corporate insiders own 7.60% of the company’s stock.

Upwork Trading Up 2.3 %

NASDAQ UPWK opened at $10.55 on Friday. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $16.36. The stock has a 50-day simple moving average of $10.19 and a 200 day simple moving average of $11.00. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $1.40 billion, a PE ratio of 30.14 and a beta of 1.54.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Upwork had a return on equity of 20.75% and a net margin of 10.00%. The company had revenue of $193.13 million during the quarter, compared to analysts’ expectations of $193.05 million. During the same period in the prior year, the business posted ($0.03) EPS. Upwork’s revenue was up 14.5% on a year-over-year basis. Research analysts forecast that Upwork Inc. will post 0.51 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on UPWK shares. Roth Mkm reduced their price target on shares of Upwork from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Citigroup reduced their target price on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday. UBS Group lowered their price target on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Piper Sandler dropped their price objective on shares of Upwork from $20.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group decreased their price objective on Upwork from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.27.

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.