Harbor Capital Advisors Inc. Buys 6,318 Shares of Upwork Inc. (NASDAQ:UPWK)

Harbor Capital Advisors Inc. increased its stake in shares of Upwork Inc. (NASDAQ:UPWK) by 10.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,490 shares of the company’s stock after acquiring an additional 6,318 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Upwork were worth $684,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Plato Investment Management Ltd bought a new position in shares of Upwork during the 2nd quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Upwork in the second quarter valued at $29,000. Quarry LP raised its stake in Upwork by 104.2% during the second quarter. Quarry LP now owns 4,350 shares of the company’s stock valued at $47,000 after purchasing an additional 2,220 shares in the last quarter. Headlands Technologies LLC bought a new position in Upwork during the first quarter valued at $49,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Upwork during the second quarter valued at $54,000. 77.71% of the stock is owned by hedge funds and other institutional investors.

Upwork Stock Performance

Shares of Upwork stock opened at $14.58 on Thursday. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $16.36. The stock’s fifty day moving average price is $10.86 and its 200-day moving average price is $10.92. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 0.99. The firm has a market cap of $1.92 billion, a P/E ratio of 26.51 and a beta of 1.49.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Canaccord Genuity Group decreased their target price on shares of Upwork from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. UBS Group lowered their price objective on Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group cut their target price on Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Roth Mkm lowered their price target on Upwork from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Finally, Citigroup cut their price objective on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.27.

Insider Buying and Selling at Upwork

In other news, CEO Hayden Brown sold 31,506 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $9.65, for a total transaction of $304,032.90. Following the sale, the chief executive officer now owns 1,190,561 shares in the company, valued at approximately $11,488,913.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Dave Bottoms sold 5,626 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $10.57, for a total value of $59,466.82. Following the transaction, the vice president now directly owns 15,196 shares of the company’s stock, valued at $160,621.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hayden Brown sold 31,506 shares of the firm’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 $304,032.90. Following the completion of the transaction, the chief executive officer now owns 1,190,561 shares of the company’s stock, valued at $11,488,913.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 176,783 shares of company stock worth $1,800,221. 7.60% of the stock is owned by insiders.

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.