KBC Group NV Acquires 1,497 Shares of Upwork Inc. (NASDAQ:UPWK)

KBC Group NV lifted its holdings in Upwork Inc. (NASDAQ:UPWK) by 45.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,791 shares of the company’s stock after purchasing 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 large investors have also bought and sold shares of the business. Plato Investment Management Ltd acquired a new position in shares of Upwork in the second quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Upwork in the 2nd quarter valued at $29,000. Quarry LP boosted its stake in Upwork by 104.2% in the 2nd quarter. Quarry LP now owns 4,350 shares of the company’s stock worth $47,000 after purchasing an additional 2,220 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Upwork during the 2nd quarter worth about $54,000. Finally, CWM LLC raised its stake in shares of Upwork by 71.9% in the 3rd quarter. CWM LLC now owns 5,896 shares of the company’s stock valued at $62,000 after purchasing an additional 2,467 shares during the period. 77.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. BTIG Research upped their price objective on Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group reduced their price target on Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Canaccord Genuity Group lifted their price objective on shares of Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Citigroup reduced 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. Finally, Royal Bank of Canada decreased their target price on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a research 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.00.

Upwork Stock Performance

Shares of UPWK opened at $16.02 on Friday. The company has a market cap of $2.14 billion, a PE ratio of 25.43 and a beta of 1.49. The firm has a 50-day moving average of $12.29 and a 200-day moving average of $11.23. Upwork Inc. has a one year low of $8.43 and a one year high of $17.79. 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 (NASDAQ:UPWK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $193.78 million during the quarter, compared to analysts’ expectations of $185.55 million. Upwork had a return on equity of 22.84% and a net margin of 11.26%. Upwork’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $0.12 earnings per share. As a group, equities analysts forecast that Upwork Inc. will post 0.65 earnings per share for the current year.

Insider Transactions at Upwork

In other news, CEO Hayden Brown sold 20,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $10.01, for a total value of $200,200.00. Following the transaction, the chief executive officer now directly owns 1,170,561 shares of the company’s stock, valued at $11,717,315.61. This represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dave Bottoms sold 5,818 shares of Upwork stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $9.81, for a total transaction of $57,074.58. Following the sale, the vice president now directly owns 5,818 shares of the company’s stock, valued at $57,074.58. The trade was a 50.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 205,626 shares of company stock worth $2,558,237. 7.60% of the stock is owned by company 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.