Acadian Asset Management LLC Has $11.72 Million Stock Holdings in Upwork Inc. (NASDAQ:UPWK)

Acadian Asset Management LLC lifted its stake in Upwork Inc. (NASDAQ:UPWK) by 19.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 956,574 shares of the company’s stock after acquiring an additional 152,539 shares during the quarter. Acadian Asset Management LLC’s holdings in Upwork were worth $11,720,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Upwork by 5.1% during the 3rd quarter. Vanguard Group Inc. now owns 14,565,252 shares of the company’s stock worth $165,461,000 after purchasing an additional 702,595 shares during the last quarter. New Century Financial Group LLC acquired a new position in Upwork during the first quarter worth $1,083,000. BNP Paribas Financial Markets raised its position in Upwork by 120.8% during the fourth quarter. BNP Paribas Financial Markets now owns 526,984 shares of the company’s stock worth $7,836,000 after acquiring an additional 288,330 shares in the last quarter. Csenge Advisory Group acquired a new stake in Upwork in the first quarter valued at $1,344,000. Finally, Goldman Sachs Group Inc. lifted its stake in Upwork by 239.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock valued at $33,491,000 after acquiring an additional 1,589,693 shares during the last quarter. Institutional investors own 77.71% of the company’s stock.

Upwork Stock Performance

Shares of Upwork stock traded up $0.08 during trading on Friday, reaching $11.44. The company’s stock had a trading volume of 1,395,444 shares, compared to its average volume of 1,795,923. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 1.02. The business’s 50-day moving average price is $11.00 and its 200-day moving average price is $12.30. Upwork Inc. has a 52 week low of $9.56 and a 52 week high of $16.36. The firm has a market cap of $1.52 billion, a PE ratio of 32.69 and a beta of 1.57.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Upwork had a net margin of 6.70% and a return on equity of 13.96%. The firm had revenue of $190.94 million during the quarter, compared to the consensus estimate of $186.71 million. Equities analysts forecast that Upwork Inc. will post 0.52 earnings per share for the current year.

Insider Activity at Upwork

In other Upwork news, VP Dave Bottoms sold 2,843 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $13.22, for a total transaction of $37,584.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Dave Bottoms sold 2,843 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $13.22, for a total transaction of $37,584.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth A. Nelson sold 70,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $11.79, for a total transaction of $825,300.00. Following the completion of the transaction, the director now directly owns 32,616 shares in the company, valued at $384,542.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,114 shares of company stock worth $2,266,910. Company insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

UPWK has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Upwork in a report on Wednesday, May 15th. UBS Group initiated coverage on Upwork in a research note on Tuesday, July 2nd. They set a “neutral” rating and a $12.00 target price for the company. BTIG Research upgraded Upwork from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Thursday, May 2nd. Royal Bank of Canada cut their price target on Upwork from $18.00 to $15.00 and set a “sector perform” rating for the company in a report on Thursday, May 2nd. Finally, Roth Mkm reiterated a “buy” rating and issued a $19.00 price objective on shares of Upwork in a report on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

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.