Hillsdale Investment Management Inc. Buys 2,700 Shares of Upwork Inc. (NASDAQ:UPWK)

Hillsdale Investment Management Inc. boosted its holdings in shares of Upwork Inc. (NASDAQ:UPWK) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 349,800 shares of the company’s stock after purchasing an additional 2,700 shares during the period. Hillsdale Investment Management Inc. owned about 0.26% of Upwork worth $5,719,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UPWK. Verition Fund Management LLC bought a new position in Upwork during the third quarter worth about $8,369,000. Point72 Asset Management L.P. lifted its stake in 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 period. Invenomic Capital Management LP lifted its stake in 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 period. Corient Private Wealth LLC lifted its stake in Upwork by 659.9% during the fourth quarter. Corient Private Wealth LLC now owns 172,582 shares of the company’s stock worth $2,822,000 after purchasing an additional 149,871 shares during the period. Finally, Stifel Financial Corp lifted its stake in Upwork by 228.0% during the third quarter. Stifel Financial Corp now owns 211,569 shares of the company’s stock worth $2,211,000 after purchasing an additional 147,059 shares during the period. Institutional investors own 77.71% of the company’s stock.

Insiders Place Their Bets

In other news, Director Elizabeth A. Nelson sold 75,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $17.58, for a total value of $1,318,500.00. Following the completion of the transaction, the director now owns 16,299 shares of the company’s stock, valued at $286,536.42. The trade was a 82.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hayden Brown sold 9,075 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $118,610.25. Following the completion of the transaction, the chief executive officer now directly owns 1,223,741 shares of the company’s stock, valued at $15,994,294.87. This trade represents a 0.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 193,365 shares of company stock valued at $3,050,760. Company insiders own 7.60% of the company’s stock.

Wall Street Analyst Weigh In

UPWK has been the subject of a number of research analyst reports. UBS Group lifted their target price on shares of Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Citigroup lifted their target price on shares of Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Scotiabank initiated coverage on shares of Upwork in a research note on Wednesday, March 12th. They issued a “sector perform” rating and a $15.00 target price for the company. JMP Securities reiterated a “market outperform” rating and issued a $18.00 target price on shares of Upwork in a research note on Thursday, January 30th. Finally, Needham & Company LLC lifted their target price on shares of Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Upwork presently has an average rating of “Moderate Buy” and an average target price of $18.58.

Upwork Price Performance

UPWK opened at $13.57 on Friday. The company has a fifty day moving average price of $15.39 and a two-hundred day moving average price of $14.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. 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 PE ratio of 8.87 and a beta of 1.61.

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

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.