O Brien Wealth Partners LLC Cuts Holdings in Upwork Inc. (NASDAQ:UPWK)

O Brien Wealth Partners LLC trimmed its holdings in shares of Upwork Inc. (NASDAQ:UPWK) by 22.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,571 shares of the company’s stock after selling 6,993 shares during the period. 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.

A number of other institutional investors and hedge funds have also modified their holdings of the company. KBC Group NV grew its holdings in shares of Upwork by 39.6% in the 4th quarter. KBC Group NV now owns 6,690 shares of the company’s stock worth $109,000 after acquiring an additional 1,899 shares during the period. Financial Management Professionals Inc. acquired a new stake in shares of Upwork in the 4th quarter worth approximately $97,000. Wedmont Private Capital acquired a new stake in shares of Upwork in the 4th quarter worth approximately $544,000. SkyView Investment Advisors LLC grew its holdings in shares of Upwork by 13.9% in the 3rd quarter. SkyView Investment Advisors LLC now owns 226,375 shares of the company’s stock worth $2,366,000 after acquiring an additional 27,639 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Upwork in the 3rd quarter worth approximately $355,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JMP Securities reiterated a “market outperform” rating and set a $18.00 target price on shares of Upwork in a report on Thursday, January 30th. Piper Sandler reiterated an “overweight” rating and set a $18.00 target price (up previously from $13.00) on shares of Upwork in a report on Thursday, November 7th. UBS Group increased their target price on Upwork from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group increased their target price on Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.09.

Insider Buying and Selling at Upwork

In other news, VP Dave Bottoms sold 5,360 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total transaction of $91,709.60. Following the completion of the sale, the vice president now directly owns 9,642 shares in the company, valued at $164,974.62. This trade represents a 35.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hayden Brown sold 30,672 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $15.13, for a total value of $464,067.36. Following the sale, the chief executive officer now owns 1,196,221 shares of the company’s stock, valued at $18,098,823.73. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,186 shares of company stock valued at $3,056,877 over the last three months. 7.60% of the stock is owned by company insiders.

Upwork Stock Performance

Shares of UPWK opened at $15.77 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 firm has a market capitalization of $2.11 billion, a P/E ratio of 25.03 and a beta of 1.57. The stock’s fifty day simple moving average is $16.49 and its 200 day simple moving average is $13.32. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 EPS 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 company had revenue of $193.78 million for the quarter, compared to analyst estimates of $185.55 million. During the same period last year, the company posted $0.12 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts forecast that Upwork Inc. will post 0.65 earnings per share 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.