Hillsdale Investment Management Inc. Buys 2,700 Shares of Upwork Inc. (NASDAQ:UPWK)

Hillsdale Investment Management Inc. boosted its stake in Upwork Inc. (NASDAQ:UPWK) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 349,800 shares of the company’s stock after acquiring an additional 2,700 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Upwork were worth $5,719,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. KBC Group NV lifted its position in Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after acquiring an additional 1,497 shares in the last quarter. Nkcfo LLC bought a new stake in Upwork in the 4th quarter valued at $82,000. SBI Securities Co. Ltd. bought a new stake in Upwork in the 4th quarter valued at $84,000. Financial Management Professionals Inc. bought a new stake in Upwork in the 4th quarter valued at $97,000. Finally, Quarry LP lifted its position in Upwork by 42.6% in the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after acquiring an additional 1,851 shares in the last quarter. 77.71% of the stock is owned by institutional investors.

Insider Activity at Upwork

In related news, CEO Hayden Brown sold 21,122 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value of $341,120.30. Following the transaction, the chief executive officer now owns 1,275,083 shares in the company, valued at approximately $20,592,590.45. This represents a 1.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth A. Nelson sold 75,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $17.58, for a total transaction of $1,318,500.00. Following the completion of the transaction, the director now owns 16,299 shares in the company, valued at approximately $286,536.42. This trade represents a 82.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 193,365 shares of company stock worth $3,050,760. Insiders own 7.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on UPWK. Needham & Company LLC boosted their price target on shares of Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Scotiabank began coverage on shares of Upwork in a research report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price target on the stock. JMP Securities reissued a “market outperform” rating and set a $18.00 price target on shares of Upwork in a research report on Thursday, January 30th. UBS Group boosted their price target on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group boosted their price target on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.58.

Upwork Stock Up 0.9 %

Upwork stock opened at $13.57 on Friday. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14. The firm has a market capitalization of $1.84 billion, a PE ratio of 8.87 and a beta of 1.61. The company’s 50-day moving average is $15.39 and its 200-day moving average is $14.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39.

Upwork (NASDAQ:UPWK) last announced its quarterly 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%. Sell-side analysts anticipate that Upwork Inc. will post 0.84 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.