O Brien Wealth Partners LLC Trims Stake in Upwork Inc. (NASDAQ:UPWK)

O Brien Wealth Partners LLC cut its position in Upwork Inc. (NASDAQ:UPWK) by 22.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,571 shares of the company’s stock after selling 6,993 shares during the quarter. O Brien Wealth Partners LLC’s holdings in Upwork were worth $385,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC acquired a new stake in shares of Upwork in the third quarter valued at $858,000. Victory Capital Management Inc. grew its stake in shares of Upwork by 133.5% in the third quarter. Victory Capital Management Inc. now owns 116,899 shares of the company’s stock valued at $1,222,000 after buying an additional 66,842 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Upwork by 40.9% in the third quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company’s stock valued at $2,630,000 after buying an additional 73,104 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Upwork in the third quarter valued at $8,369,000. Finally, Point72 Asset Management L.P. grew its stake in shares of Upwork by 2,216.8% in the third quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company’s stock valued at $5,263,000 after buying an additional 481,942 shares in the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Dave Bottoms sold 5,360 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total value of $91,709.60. Following the completion of the sale, the vice president now directly owns 9,642 shares of the company’s stock, valued at approximately $164,974.62. The trade was a 35.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Erica Gessert sold 4,279 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $17.11, for a total value of $73,213.69. Following the completion of the sale, the chief financial officer now directly owns 133,093 shares of the company’s stock, valued at $2,277,221.23. The trade was a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 184,186 shares of company stock valued at $3,056,877. Insiders own 7.60% of the company’s stock.

Upwork Stock Performance

NASDAQ:UPWK opened at $15.77 on Friday. The stock has a 50-day simple moving average of $16.49 and a 200-day simple moving average of $13.32. The stock has a market cap of $2.11 billion, a P/E ratio of 25.03 and a beta of 1.57. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.18 and a current ratio of 3.18.

Upwork (NASDAQ:UPWK) last posted its earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The business had revenue of $193.78 million during the quarter, compared to the consensus estimate of $185.55 million. During the same period in the previous year, the business earned $0.12 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, analysts anticipate that Upwork Inc. will post 0.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on UPWK. Jefferies Financial Group lifted their price objective on Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Roth Mkm boosted their target price on Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group boosted their target price on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and set a $17.00 target price on shares of Upwork in a research note on Friday, January 17th. Finally, BTIG Research boosted 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. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.09.

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.