KBC Group NV Has $50,000 Stock Holdings in Upwork Inc. (NASDAQ:UPWK)

KBC Group NV lifted its position in shares of Upwork Inc. (NASDAQ:UPWK) by 45.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,791 shares of the company’s stock after buying an additional 1,497 shares during the quarter. KBC Group NV’s holdings in Upwork were worth $50,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. ProShare Advisors LLC increased its position in shares of Upwork by 8.6% in the first quarter. ProShare Advisors LLC now owns 22,483 shares of the company’s stock worth $276,000 after purchasing an additional 1,771 shares during the period. Federated Hermes Inc. grew its stake in Upwork by 0.6% during the second quarter. Federated Hermes Inc. now owns 318,659 shares of the company’s stock worth $3,426,000 after buying an additional 1,996 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Upwork by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,809 shares of the company’s stock valued at $718,000 after buying an additional 2,063 shares during the period. Quarry LP raised its position in shares of Upwork by 104.2% in the 2nd quarter. Quarry LP now owns 4,350 shares of the company’s stock valued at $47,000 after buying an additional 2,220 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Upwork by 71.9% during the 3rd quarter. CWM LLC now owns 5,896 shares of the company’s stock worth $62,000 after acquiring an additional 2,467 shares during the period. Institutional investors own 77.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JMP Securities lifted their price objective on shares of Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. UBS Group lowered their price target on Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price objective (up from $13.00) on shares of Upwork in a research note on Thursday, November 7th. Roth Mkm boosted their target price on Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Citigroup dropped their target price on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Insider Buying and Selling

In related news, CEO Hayden Brown sold 30,672 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $15.13, for a total transaction of $464,067.36. Following the completion of the sale, the chief executive officer now owns 1,196,221 shares of the company’s stock, valued at $18,098,823.73. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Dave Bottoms sold 5,818 shares of Upwork stock in a transaction that occurred 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 sale, the vice president now owns 5,818 shares of the company’s stock, valued at approximately $57,074.58. The trade was a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 205,626 shares of company stock valued at $2,558,237 over the last ninety days. 7.60% of the stock is owned by company insiders.

Upwork Stock Up 4.2 %

Shares of NASDAQ UPWK opened at $16.02 on Friday. The company has a 50 day simple moving average of $12.29 and a 200 day simple moving average of $11.23. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.18 and a quick ratio of 3.18. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $17.79. The firm has a market cap of $2.14 billion, a PE ratio of 25.43 and a beta of 1.49.

Upwork (NASDAQ:UPWK) last announced its earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The business had revenue of $193.78 million during the quarter, compared to analyst estimates of $185.55 million. During the same period last year, the company earned $0.12 EPS. Upwork’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts forecast that Upwork Inc. will post 0.65 EPS 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.