Upwork Inc. (NASDAQ:UPWK) Stock Holdings Raised by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of Upwork Inc. (NASDAQ:UPWK) by 138.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,057 shares of the company’s stock after buying an additional 29,033 shares during the period. Victory Capital Management Inc.’s holdings in Upwork were worth $538,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. New Century Financial Group LLC bought a new stake in shares of Upwork during the 1st quarter valued at about $1,083,000. Vanguard Group Inc. grew its position in shares of Upwork by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock valued at $196,115,000 after buying an additional 770,088 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Upwork by 239.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock valued at $33,491,000 after buying an additional 1,589,693 shares during the last quarter. Csenge Advisory Group bought a new stake in shares of Upwork during the 1st quarter valued at about $1,344,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Upwork during the 1st quarter valued at about $3,165,000. Institutional investors own 77.71% of the company’s stock.

Upwork Trading Down 0.6 %

Shares of NASDAQ:UPWK opened at $10.71 on Monday. The company has a 50 day moving average of $10.30 and a 200-day moving average of $11.07. The firm has a market cap of $1.43 billion, a P/E ratio of 30.60 and a beta of 1.54. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $16.36. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 0.99.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Roth Mkm lowered their price objective on shares of Upwork from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Piper Sandler reduced their target price on shares of Upwork from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. UBS Group reduced their target price on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada reduced their target price on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group reduced their target price on shares of Upwork from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two 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, Upwork presently has a consensus rating of “Moderate Buy” and an average price target of $15.70.

Insider Transactions at Upwork

In related news, VP Dave Bottoms sold 5,818 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $9.81, for a total transaction of $57,074.58. Following the completion of the sale, the vice president now directly owns 5,818 shares of the company’s stock, valued at $57,074.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Elizabeth A. Nelson sold 75,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $10.54, for a total transaction of $790,500.00. Following the completion of the sale, the director now directly owns 48,915 shares of the company’s stock, valued at $515,564.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Dave Bottoms sold 5,818 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $9.81, for a total transaction of $57,074.58. Following the sale, the vice president now owns 5,818 shares in the company, valued at approximately $57,074.58. The disclosure for this sale can be found here. In the last three months, insiders sold 176,785 shares of company stock valued at $1,800,489. Company insiders own 7.60% of the company’s stock.

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.