Y Intercept Hong Kong Ltd Sells 13,894 Shares of Upwork Inc. (NASDAQ:UPWK)

Y Intercept Hong Kong Ltd reduced its holdings in shares of Upwork Inc. (NASDAQ:UPWK) by 40.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,115 shares of the company’s stock after selling 13,894 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Upwork were worth $329,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in UPWK. KBC Group NV lifted its stake in Upwork by 45.4% in the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after acquiring an additional 1,497 shares during the period. Quarry LP lifted its position in Upwork by 42.6% during the third quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after buying an additional 1,851 shares during the period. Nkcfo LLC purchased a new position in Upwork during the fourth quarter valued at $82,000. Financial Management Professionals Inc. purchased a new position in shares of Upwork in the 4th quarter worth about $97,000. Finally, Citizens Financial Group Inc. RI raised its position in shares of Upwork by 18.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company’s stock worth $143,000 after purchasing an additional 2,129 shares during the last quarter. Institutional investors own 77.71% of the company’s stock.

Upwork Stock Down 7.6 %

Shares of UPWK opened at $14.72 on Tuesday. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 9.62 and a beta of 1.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14. The business’s 50 day simple moving average is $16.20 and its 200-day simple moving average is $13.91.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. As a group, equities analysts expect that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. JMP Securities restated a “market outperform” rating and set a $18.00 price target on shares of Upwork in a research note on Thursday, January 30th. BTIG Research lifted their price objective on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Roth Mkm lowered their price objective on Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Needham & Company LLC lifted their price objective on Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Upwork has an average rating of “Moderate Buy” and an average target price of $18.91.

Insider Activity at Upwork

In other Upwork news, CFO Erica Gessert sold 4,279 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total value of $73,213.69. Following the completion of the sale, the chief financial officer now owns 133,093 shares of the company’s stock, valued at approximately $2,277,221.23. This trade represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dave Bottoms sold 5,360 shares of Upwork stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total value of $91,709.60. Following the sale, the vice president now directly owns 9,642 shares of the company’s stock, valued at $164,974.62. This trade represents a 35.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 228,187 shares of company stock valued at $3,917,213 over the last quarter. 7.60% of the stock is owned by corporate insiders.

About Upwork

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.