Nkcfo LLC Makes New $580,000 Investment in Upwork Inc. (NASDAQ:UPWK)

Nkcfo LLC bought a new position in shares of Upwork Inc. (NASDAQ:UPWK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 39,000 shares of the company’s stock, valued at approximately $580,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UPWK. J.W. Cole Advisors Inc. bought a new stake in Upwork during the 3rd quarter worth approximately $166,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Upwork by 33.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,648 shares of the company’s stock worth $303,000 after acquiring an additional 6,683 shares during the period. Strs Ohio bought a new stake in Upwork during the 3rd quarter worth approximately $198,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Upwork by 11.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,503 shares of the company’s stock valued at $653,000 after buying an additional 5,956 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in Upwork during the 3rd quarter valued at approximately $1,669,000. Institutional investors own 77.71% of the company’s stock.

Upwork Price Performance

UPWK traded down $0.10 during trading hours on Friday, hitting $12.89. The company’s stock had a trading volume of 2,468,249 shares, compared to its average volume of 2,033,711. The business’s 50-day moving average price is $12.19 and its 200-day moving average price is $13.21. Upwork Inc. has a 12 month low of $6.56 and a 12 month high of $16.36. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 36.83 and a beta of 1.66. The company has a current ratio of 2.93, a quick ratio of 3.01 and a debt-to-equity ratio of 1.02.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Upwork had a net margin of 6.70% and a return on equity of 13.96%. The business had revenue of $183.93 million for the quarter, compared to analysts’ expectations of $178.43 million. Sell-side analysts expect that Upwork Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Upwork

In other Upwork news, CEO Hayden Brown sold 20,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $12.07, for a total transaction of $241,400.00. Following the transaction, the chief executive officer now owns 1,145,980 shares in the company, valued at $13,831,978.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 67,531 shares of company stock worth $851,894 over the last quarter. Insiders own 9.00% of the company’s stock.

Wall Street Analysts Forecast Growth

UPWK has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Upwork in a report on Thursday. BTIG Research raised shares of Upwork from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Thursday. JMP Securities increased their price objective on shares of Upwork from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Thursday, February 15th. Jefferies Financial Group raised shares of Upwork from a “hold” rating to a “buy” rating and increased their price objective for the company from $13.00 to $20.00 in a report on Monday, January 8th. Finally, Royal Bank of Canada cut their price objective on shares of Upwork from $18.00 to $15.00 and set a “sector perform” rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and seven 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 price target of $17.30.

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.