Nkcfo LLC Invests $82,000 in Upwork Inc. (NASDAQ:UPWK)

Nkcfo LLC bought a new stake in shares of Upwork Inc. (NASDAQ:UPWK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,040 shares of the company’s stock, valued at approximately $82,000.

A number of other large investors also recently added to or reduced their stakes in UPWK. KBC Group NV boosted its position in Upwork by 45.4% during the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after buying an additional 1,497 shares during the period. Quarry LP grew its holdings in Upwork by 42.6% in the third quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after purchasing an additional 1,851 shares during the period. Citizens Financial Group Inc. RI grew its stake in shares of Upwork by 18.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company’s stock worth $143,000 after buying an additional 2,129 shares during the last quarter. Rhumbline Advisers increased its position in Upwork by 1.4% during the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock valued at $2,914,000 after buying an additional 2,387 shares in the last quarter. Finally, CWM LLC raised its stake in Upwork by 71.9% during the third quarter. CWM LLC now owns 5,896 shares of the company’s stock valued at $62,000 after buying an additional 2,467 shares during the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Upwork Trading Down 2.5 %

Shares of UPWK stock opened at $16.14 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.18 and a quick ratio of 3.18. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 25.62 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 firm has a fifty day moving average price of $16.36 and a 200-day moving average price of $13.47.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.79. Upwork had a return on equity of 22.84% and a net margin of 11.26%. As a group, equities analysts predict that Upwork Inc. will post 0.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on UPWK shares. The Goldman Sachs Group raised their price target on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. BTIG Research raised their price objective on shares of Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. UBS Group upped their target price on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada raised 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $18.00 price objective on shares of Upwork in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Upwork has a consensus rating of “Moderate Buy” and an average target price of $18.91.

Insider Buying and Selling

In related news, Director Elizabeth A. Nelson sold 75,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $17.37, for a total transaction of $1,302,750.00. Following the sale, the director now owns 48,915 shares of the company’s stock, valued at $849,653.55. This represents a 60.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hayden Brown sold 30,672 shares of Upwork stock in a transaction on Monday, November 18th. The stock was sold at an average price of $15.13, for a total transaction of $464,067.36. Following the completion of the transaction, the chief executive officer now directly owns 1,196,221 shares of the company’s stock, valued at $18,098,823.73. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 183,203 shares of company stock worth $3,042,191. 7.60% of the stock is owned by insiders.

About Upwork

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.