OneDigital Investment Advisors LLC Boosts Stake in Upwork Inc. (NASDAQ:UPWK)

OneDigital Investment Advisors LLC increased its stake in Upwork Inc. (NASDAQ:UPWK) by 70.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 314,507 shares of the company’s stock after acquiring an additional 129,923 shares during the period. OneDigital Investment Advisors LLC owned about 0.24% of Upwork worth $5,142,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in UPWK. Nkcfo LLC purchased a new position in shares of Upwork in the 4th quarter worth about $82,000. SBI Securities Co. Ltd. bought a new stake in Upwork in the 4th quarter worth approximately $84,000. Financial Management Professionals Inc. bought a new stake in Upwork in the 4th quarter worth approximately $97,000. KBC Group NV boosted its stake in Upwork by 39.6% in the fourth quarter. KBC Group NV now owns 6,690 shares of the company’s stock worth $109,000 after buying an additional 1,899 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in Upwork during the fourth quarter valued at approximately $191,000. Institutional investors own 77.71% of the company’s stock.

Analyst Ratings Changes

UPWK has been the subject of a number of research reports. BTIG Research cut shares of Upwork from a “buy” rating to a “neutral” rating in a research note on Friday, April 4th. Royal Bank of Canada upped their price target on shares of Upwork from $16.00 to $18.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Needham & Company LLC lifted their price objective on Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group lowered their target price on Upwork from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Finally, Scotiabank assumed coverage on Upwork in a research report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.58.

Insider Transactions at Upwork

In related news, Director Elizabeth A. Nelson sold 75,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $17.58, for a total transaction of $1,318,500.00. Following the completion of the sale, the director now owns 16,299 shares in the company, valued at approximately $286,536.42. This represents a 82.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dave Bottoms sold 5,411 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $70,721.77. Following the sale, the insider now directly owns 9,593 shares of the company’s stock, valued at $125,380.51. The trade was a 36.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 193,108 shares of company stock valued at $3,046,648 in the last quarter. 7.60% of the stock is owned by insiders.

Upwork Trading Down 2.1 %

NASDAQ:UPWK opened at $12.47 on Tuesday. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $18.14. The company has a 50-day moving average price of $13.90 and a 200-day moving average price of $14.74. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 8.15 and a beta of 1.60.

Upwork (NASDAQ:UPWK) last announced its earnings results on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. Equities analysts predict that Upwork Inc. will post 0.84 EPS for the current year.

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.