Cwm LLC lifted its stake in shares of Upwork Inc. (NASDAQ:UPWK – Free Report) by 71.9% in the third quarter, Holdings Channel.com reports. The fund owned 5,896 shares of the company’s stock after acquiring an additional 2,467 shares during the quarter. Cwm LLC’s holdings in Upwork were worth $62,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in UPWK. Plato Investment Management Ltd bought a new position in shares of Upwork during the second quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Upwork during the second quarter worth about $29,000. Quarry LP increased its holdings in Upwork by 104.2% in the second quarter. Quarry LP now owns 4,350 shares of the company’s stock worth $47,000 after purchasing an additional 2,220 shares in the last quarter. Headlands Technologies LLC bought a new stake in Upwork in the first quarter worth approximately $49,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Upwork in the second quarter worth approximately $54,000. 77.71% of the stock is currently owned by institutional investors.
Upwork Stock Down 2.3 %
Shares of NASDAQ:UPWK opened at $12.36 on Monday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 35.31 and a beta of 1.54. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.99. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $16.36. The business’s 50 day moving average is $10.21 and its 200 day moving average is $10.79.
Insider Activity at Upwork
In other Upwork news, CFO Erica Gessert sold 20,353 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $9.65, for a total value of $196,406.45. Following the transaction, the chief financial officer now owns 107,313 shares of the company’s stock, valued at approximately $1,035,570.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Upwork news, VP Dave Bottoms sold 5,818 shares of the business’s 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 transaction, the vice president now owns 5,818 shares of the company’s stock, valued at approximately $57,074.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Erica Gessert sold 20,353 shares of the business’s stock in a transaction on Monday, August 19th. The stock was 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 directly owns 107,313 shares in the company, valued at approximately $1,035,570.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 176,783 shares of company stock valued at $1,800,221 over the last 90 days. Insiders own 7.60% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on UPWK shares. Citigroup lowered their target price on Upwork from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Canaccord Genuity Group lowered their target price on Upwork from $19.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada lowered their target price on Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Roth Mkm lowered their target price on Upwork from $19.00 to $13.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, Piper Sandler lowered their target price on Upwork from $20.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Upwork currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.27.
Get Our Latest Stock Analysis on UPWK
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.
See Also
- Five stocks we like better than Upwork
- Trading Halts Explained
- Real Estate Sector Outperforms: 3 Stocks to Gain Exposure
- 3 Natural Gas Stocks That Offer Great Dividend Yields
- Lam Research Proves Analysts Wrong with a Strong Earnings Report
- What Are Dividends? Buy the Best Dividend Stocks
- PureCycle: Up 250% in 2024 – Is This Materials Stock Still a Buy?
Want to see what other hedge funds are holding UPWK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Upwork Inc. (NASDAQ:UPWK – Free Report).
Receive News & Ratings for Upwork Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Upwork and related companies with MarketBeat.com's FREE daily email newsletter.