Upwork Inc. (NASDAQ:UPWK) Shares Bought by Advisory Research Inc.

Advisory Research Inc. boosted its stake in shares of Upwork Inc. (NASDAQ:UPWK) by 20.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,211 shares of the company’s stock after buying an additional 5,347 shares during the quarter. Advisory Research Inc.’s holdings in Upwork were worth $1,397,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Optimum Investment Advisors acquired a new position in Upwork during the first quarter worth about $31,000. Wealthcare Advisory Partners LLC acquired a new position in Upwork during the first quarter worth about $49,000. Marshall Wace North America L.P. acquired a new stake in shares of Upwork in the first quarter valued at approximately $38,000. Steward Partners Investment Advisory LLC grew its position in shares of Upwork by 100.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,000 shares of the company’s stock valued at $69,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Tuttle Tactical Management acquired a new stake in shares of Upwork in the first quarter valued at approximately $202,000. Institutional investors own 62.61% of the company’s stock.

Shares of UPWK opened at $49.81 on Friday. The stock has a market capitalization of $6.28 billion, a P/E ratio of -311.31 and a beta of 2.00. The firm’s 50 day moving average price is $45.36. Upwork Inc. has a 1 year low of $11.28 and a 1 year high of $63.88.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings data on Tuesday, May 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $113.62 million for the quarter, compared to analysts’ expectations of $107.21 million. Upwork had a negative net margin of 5.12% and a negative return on equity of 7.15%. The business’s quarterly revenue was up 36.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) EPS. On average, analysts forecast that Upwork Inc. will post -0.17 earnings per share for the current year.

Several research firms have recently commented on UPWK. Stifel Nicolaus increased their price target on shares of Upwork from $40.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 24th. MKM Partners increased their price target on shares of Upwork from $52.00 to $69.00 in a research report on Wednesday, February 24th. Citigroup increased their price target on shares of Upwork from $48.00 to $75.00 in a research report on Thursday, February 25th. BTIG Research lowered their price target on shares of Upwork from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, May 5th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Upwork from a “hold” rating to a “sell” rating in a research report on Thursday, May 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $60.67.

In other Upwork news, Director Elizabeth A. Nelson sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 2nd. The shares were sold at an average price of $48.10, for a total transaction of $240,500.00. Following the transaction, the director now owns 17,021 shares of the company’s stock, valued at $818,710.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Eric Gilpin sold 3,315 shares of the stock in a transaction that occurred on Tuesday, May 18th. The stock was sold at an average price of $40.27, for a total transaction of $133,495.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,865 shares of company stock worth $2,996,389. 25.30% of the stock is currently owned by insiders.

Upwork Profile

Upwork Inc, together with its subsidiaries, operates an online talent marketplace that enables businesses to find and work with various independent professionals and agencies in the United States, India, the Philippines, and internationally. The company's platform provides access to talent with various skills across a range of categories, including sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.

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Institutional Ownership by Quarter for Upwork (NASDAQ:UPWK)

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