Mizuho Markets Americas LLC Has $318,000 Position in Upwork Inc. (NASDAQ:UPWK)

Mizuho Markets Americas LLC reduced its stake in Upwork Inc. (NASDAQ:UPWK) by 39.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,443 shares of the company’s stock after selling 20,000 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Upwork were worth $318,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Swiss National Bank grew its holdings in Upwork by 1.1% in the 1st quarter. Swiss National Bank now owns 241,900 shares of the company’s stock valued at $2,966,000 after buying an additional 2,600 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Upwork by 28.4% in the first quarter. Russell Investments Group Ltd. now owns 68,531 shares of the company’s stock valued at $840,000 after acquiring an additional 15,146 shares during the period. ProShare Advisors LLC grew its stake in shares of Upwork by 8.6% in the first quarter. ProShare Advisors LLC now owns 22,483 shares of the company’s stock valued at $276,000 after acquiring an additional 1,771 shares in the last quarter. Vanguard Group Inc. raised its stake in Upwork by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock worth $196,115,000 after purchasing an additional 770,088 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Upwork by 19.0% in the 1st quarter. Acadian Asset Management LLC now owns 956,574 shares of the company’s stock valued at $11,720,000 after purchasing an additional 152,539 shares during the period. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Erica Gessert sold 4,491 shares of Upwork stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $10.57, for a total value of $47,469.87. Following the completion of the sale, the chief financial officer now owns 111,255 shares of the company’s stock, valued at approximately $1,175,965.35. This trade represents a 3.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hayden Brown sold 31,506 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $9.65, for a total transaction of $304,032.90. Following the transaction, the chief executive officer now owns 1,190,561 shares of the company’s stock, valued at $11,488,913.65. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,078 shares of company stock valued at $2,267,715. Company insiders own 7.60% of the company’s stock.

Upwork Trading Down 1.3 %

NASDAQ UPWK opened at $14.91 on Friday. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87. The business has a fifty day simple moving average of $11.71 and a 200 day simple moving average of $11.13. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $17.79. The firm has a market capitalization of $1.99 billion, a P/E ratio of 23.67 and a beta of 1.49.

Upwork (NASDAQ:UPWK) last announced its earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $193.78 million for the quarter, compared to the consensus estimate of $185.55 million. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 EPS. On average, analysts predict that Upwork Inc. will post 0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JMP Securities upped their target price on Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Roth Mkm boosted their target price on shares of Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. BTIG Research upped their target price on Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group upped their price objective on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada decreased their target price on Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Upwork currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Upwork 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.