Olympiad Research LP Decreases Stock Position in Upwork Inc. (NASDAQ:UPWK)

Olympiad Research LP trimmed its position in Upwork Inc. (NASDAQ:UPWK) by 42.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,474 shares of the company’s stock after selling 8,393 shares during the quarter. Olympiad Research LP’s holdings in Upwork were worth $188,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. KBC Group NV raised its position in Upwork by 45.4% during the third 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 purchased a new position in Upwork during the fourth quarter valued at approximately $82,000. CWM LLC raised its position 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 acquiring an additional 2,467 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in Upwork during the fourth quarter valued at approximately $97,000. Finally, Quarry LP raised its position in Upwork by 42.6% during the third 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 currently owned by hedge funds and other institutional investors.

Upwork Price Performance

NASDAQ:UPWK opened at $15.63 on Monday. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $2.12 billion, a P/E ratio of 10.22 and a beta of 1.57. The stock’s fifty day moving average is $16.30 and its two-hundred day moving average is $13.69.

Upwork (NASDAQ:UPWK) last posted its 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 return on equity of 50.83% and a net margin of 28.02%. Equities analysts expect that Upwork Inc. will post 0.84 EPS for the current year.

Wall Street Analyst Weigh In

UPWK has been the topic of several research analyst reports. Jefferies Financial Group raised their price objective on Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, January 6th. Canaccord Genuity Group raised their price objective on Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada raised their price objective on Upwork from $16.00 to $18.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Needham & Company LLC raised their price objective on Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Piper Sandler reissued an “overweight” rating and issued a $18.00 price objective (up from $13.00) on shares of Upwork in a report on Thursday, November 7th. Three investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.91.

Insider Buying and Selling at Upwork

In other Upwork news, Director Elizabeth A. Nelson sold 75,000 shares of Upwork stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $17.58, for a total value of $1,318,500.00. Following the sale, the director now owns 16,299 shares in the company, valued at $286,536.42. The trade was a 82.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hayden Brown sold 8,997 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $17.12, for a total value of $154,028.64. Following the completion of the sale, the chief executive officer now owns 1,238,156 shares in the company, valued at $21,197,230.72. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 243,187 shares of company stock worth $4,172,213 over the last quarter. 7.60% of the stock is currently owned by company 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.