1 week Ago By Defense World Staff
Norges Bank purchased a new stake in Upwork Inc. (NASDAQ:UPWK – Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 364,002 shares of the company’s stock, valued at approximately $5,951,000.
Norges Bank owned 0.27% of Upwork as of its most recent filing with the SEC. A number of other institutional investors have also modified their holdings of UPWK.
Nkcfo LLC bought a new stake in Upwork in the fourth quarter valued at $82,000. SBI Securities Co. Ltd.
acquired a new stake in shares of Upwork in the 4th quarter worth about $84,000. Financial Management Professionals Inc. bought a new stake in Upwork in the 4th quarter valued at about $97,000.
KBC Group NV boosted its stake in Upwork by 39.6% during the 4th quarter. KBC Group NV now owns 6,690 shares of the company’s stock valued at $109,000 after purchasing an additional 1,899 shares during the period.
Finally, Cibc World Markets Corp bought a new position in Upwork in the 4th quarter worth about $191,000. Institutional investors own 77.71% of the company’s stock.
Upwork Trading Up 11.8 %Upwork stock opened at $13.19 on Thursday.
The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 8.62 and a beta of 1.
60. Upwork Inc. has a 1 year low of $8.
43 and a 1 year high of $18.14. The firm’s 50 day moving average price is $14.
35 and its two-hundred day moving average price is $14.58. 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 (NASDAQ:UPWK – Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts predict that Upwork Inc.
will post 0.84 EPS for the current fiscal year. Analyst Ratings ChangesA number of equities research analysts have recently weighed in on the company.
JMP Securities reaffirmed a “market outperform” rating and set a $18.00 price target on shares of Upwork in a report on Thursday, January 30th. UBS Group boosted their price target on Upwork from $18.
00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Scotiabank started coverage on Upwork in a report on Wednesday, March 12th.
They set a “sector perform” rating and a $15.00 price target on the stock. Jefferies Financial Group reduced their price objective on shares of Upwork from $21.
00 to $20.00 and set a “buy” rating for the company in a report on Monday. Finally, Roth Mkm lowered their target price on shares of Upwork from $20.
00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company.
According to data from MarketBeat.com, Upwork presently has an average rating of “Moderate Buy” and an average price target of $18.58.
Get Our Latest Stock Analysis on UpworkInsiders Place Their BetsIn other news, insider Dave Bottoms sold 5,411 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total value of $70,721.
77. Following the completion of the sale, the insider now owns 9,593 shares of the company’s stock, valued at $125,380.51.
This trade represents a 36.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link.
Also, CFO Erica Gessert sold 13,765 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value of $222,304.
75. Following the transaction, the chief financial officer now directly owns 156,828 shares in the company, valued at $2,532,772.20.
The trade was a 8.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here.
Insiders sold a total of 193,365 shares of company stock worth $3,050,760 over the last ninety days. 7.60% of the stock is currently owned by company insiders.
About Upwork (Free Report)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.Read MoreFive stocks we like better than Upwork3 Stocks to Protect Your Portfolio from the Coronavirus Contagion Quantum Computing: The $6.
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