US Bancorp DE Sells 1,296 Shares of Upwork Inc. (NASDAQ:UPWK)

US Bancorp DE trimmed its holdings in shares of Upwork Inc. (NASDAQ:UPWK) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,838 shares of the company’s stock after selling 1,296 shares during the quarter. US Bancorp DE’s holdings in Upwork were worth $422,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of Upwork by 9.3% during the 4th quarter. Bank of New York Mellon Corp now owns 413,248 shares of the company’s stock valued at $6,757,000 after acquiring an additional 35,074 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Upwork in the 4th quarter worth $996,000. Nkcfo LLC bought a new stake in shares of Upwork in the 4th quarter worth $82,000. Rhumbline Advisers grew its position in Upwork by 1.4% during the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock valued at $2,914,000 after buying an additional 2,387 shares during the period. Finally, Bristlecone Advisors LLC grew its position in Upwork by 54.9% during the fourth quarter. Bristlecone Advisors LLC now owns 65,113 shares of the company’s stock valued at $1,065,000 after buying an additional 23,090 shares during the period. 77.71% of the stock is owned by institutional investors.

Upwork Stock Up 1.3 %

NASDAQ UPWK opened at $13.56 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The company has a market capitalization of $1.84 billion, a P/E ratio of 8.86 and a beta of 1.61. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The stock has a 50 day moving average price of $15.86 and a 200-day moving average price of $14.13.

Upwork (NASDAQ:UPWK) last issued its quarterly 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 50.83% and a net margin of 28.02%. As a group, equities analysts predict that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on UPWK shares. Needham & Company LLC increased their price target on shares of Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Roth Mkm cut their target price on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. UBS Group increased their target price on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Jefferies Financial Group increased their target price on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Citigroup increased their target price on shares of Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Four 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 presently has an average rating of “Moderate Buy” and an average target price of $18.58.

Insider Buying and Selling at Upwork

In other Upwork news, CEO Hayden Brown sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $16.84, for a total value of $336,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,229,420 shares of the company’s stock, valued at approximately $20,703,432.80. The trade was a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Elizabeth A. Nelson sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $17.58, for a total value of $1,318,500.00. Following the completion of the transaction, the director now directly owns 16,299 shares of the company’s stock, valued at $286,536.42. The trade was a 82.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 288,187 shares of company stock worth $4,769,213 over the last quarter. Insiders own 7.60% of the company’s stock.

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.