Upwork Inc. (NASDAQ:UPWK) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its holdings in shares of Upwork Inc. (NASDAQ:UPWK) by 37.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,140 shares of the company’s stock after selling 45,586 shares during the period. Vontobel Holding Ltd. owned about 0.06% of Upwork worth $1,245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Invenomic Capital Management LP increased its stake in shares of Upwork by 12.5% in the third quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company’s stock worth $24,397,000 after buying an additional 260,274 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Upwork by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,011,508 shares of the company’s stock valued at $10,570,000 after acquiring an additional 14,680 shares during the period. Verition Fund Management LLC acquired a new position in shares of Upwork during the third quarter valued at $8,369,000. Horrell Capital Management Inc. boosted its holdings in shares of Upwork by 16.1% during the third quarter. Horrell Capital Management Inc. now owns 540,000 shares of the company’s stock valued at $5,643,000 after acquiring an additional 75,000 shares during the period. Finally, Circumference Group LLC boosted its holdings in shares of Upwork by 16.1% during the third quarter. Circumference Group LLC now owns 540,000 shares of the company’s stock valued at $5,643,000 after acquiring an additional 75,000 shares during the period. 77.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Upwork

In other Upwork news, VP Dave Bottoms sold 5,360 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total transaction of $91,709.60. Following the completion of the transaction, the vice president now directly owns 9,642 shares in the company, valued at $164,974.62. This represents a 35.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hayden Brown sold 20,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $16.84, for a total value of $336,800.00. Following the completion of the sale, the chief executive officer now owns 1,229,420 shares of the company’s stock, valued at approximately $20,703,432.80. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,341 shares of company stock worth $2,242,389. 7.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on UPWK shares. Roth Mkm reduced their price target on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Canaccord Genuity Group upped their price target on shares of Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group upped their price target on shares of Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, January 6th. Piper Sandler reissued an “overweight” rating and issued a $18.00 price target (up from $13.00) on shares of Upwork in a report on Thursday, November 7th. Finally, Needham & Company LLC boosted their price objective on Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.91.

Upwork Stock Down 2.5 %

Shares of Upwork stock opened at $16.14 on Tuesday. The stock has a market capitalization of $2.16 billion, a P/E ratio of 25.62 and a beta of 1.57. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.87. The stock has a 50 day moving average price of $16.33 and a two-hundred day moving average price of $13.52. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14.

Upwork (NASDAQ:UPWK) last announced 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 22.84% and a net margin of 11.26%. Equities analysts expect that Upwork Inc. will post 0.65 earnings per share 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.