DekaBank Deutsche Girozentrale Buys New Shares in Upwork Inc. (NASDAQ:UPWK)

DekaBank Deutsche Girozentrale acquired a new position in shares of Upwork Inc. (NASDAQ:UPWK) in the second quarter, HoldingsChannel.com reports. The firm acquired 9,698 shares of the company’s stock, valued at approximately $104,000.

Several other hedge funds also recently modified their holdings of the stock. Quadrant Capital Group LLC boosted its position in Upwork by 67.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock valued at $30,000 after purchasing an additional 803 shares during the last quarter. Essex Investment Management Co. LLC boosted its holdings in shares of Upwork by 56.2% in the 1st quarter. Essex Investment Management Co. LLC now owns 4,724 shares of the company’s stock valued at $58,000 after buying an additional 1,700 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Upwork by 8.6% in the first quarter. ProShare Advisors LLC now owns 22,483 shares of the company’s stock valued at $276,000 after buying an additional 1,771 shares in the last quarter. Principal Financial Group Inc. raised its position in Upwork by 17.1% during the first quarter. Principal Financial Group Inc. now owns 16,823 shares of the company’s stock worth $206,000 after acquiring an additional 2,457 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Upwork by 1.1% in the first quarter. Swiss National Bank now owns 241,900 shares of the company’s stock valued at $2,966,000 after acquiring an additional 2,600 shares during the last quarter. Institutional investors own 77.71% of the company’s stock.

Insider Buying and Selling

In other Upwork news, VP Dave Bottoms sold 5,818 shares of Upwork stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $9.81, for a total value of $57,074.58. Following the completion of the transaction, the vice president now directly owns 5,818 shares of the company’s stock, valued at approximately $57,074.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Hayden Brown sold 9,444 shares of Upwork stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $10.57, for a total value of $99,823.08. Following the transaction, the chief executive officer now directly owns 1,178,850 shares of the company’s stock, valued at $12,460,444.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the vice president now owns 5,818 shares of the company’s stock, valued at $57,074.58. The disclosure for this sale can be found here. Insiders have sold 176,785 shares of company stock valued at $1,800,489 over the last 90 days. 7.60% of the stock is owned by corporate insiders.

Upwork Trading Down 0.6 %

Shares of Upwork stock opened at $10.71 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.00 and a current ratio of 3.00. The firm has a 50-day moving average of $10.30 and a 200-day moving average of $11.08. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $16.36. The stock has a market cap of $1.43 billion, a PE ratio of 30.60 and a beta of 1.54.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada dropped their target price on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group cut their price objective on Upwork from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. UBS Group decreased their target price on Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Piper Sandler cut their price target on Upwork from $20.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, The Goldman Sachs Group decreased their price objective on shares of Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $15.70.

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.