Vontobel Holding Ltd. Reduces Stock Holdings in Upwork Inc. (NASDAQ:UPWK)

Vontobel Holding Ltd. trimmed its position in Upwork Inc. (NASDAQ:UPWK) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 285,751 shares of the company’s stock after selling 12,726 shares during the period. Vontobel Holding Ltd.’s holdings in Upwork were worth $4,249,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in Upwork by 7.2% during the 1st quarter. JPMorgan Chase & Co. now owns 173,732 shares of the company’s stock valued at $4,037,000 after purchasing an additional 11,594 shares during the period. Raymond James & Associates raised its stake in Upwork by 3.4% during the 1st quarter. Raymond James & Associates now owns 182,593 shares of the company’s stock valued at $4,243,000 after purchasing an additional 5,978 shares during the period. Bank of Montreal Can bought a new stake in Upwork during the 1st quarter valued at approximately $4,050,000. Acadian Asset Management LLC bought a new stake in Upwork during the 1st quarter valued at approximately $120,000. Finally, MetLife Investment Management LLC raised its stake in Upwork by 56.1% during the 1st quarter. MetLife Investment Management LLC now owns 64,431 shares of the company’s stock valued at $1,497,000 after purchasing an additional 23,158 shares during the period. 77.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Upwork

In related news, CEO Hayden Brown sold 20,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $12.07, for a total transaction of $241,400.00. Following the completion of the transaction, the chief executive officer now owns 1,145,980 shares in the company, valued at approximately $13,831,978.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 67,567 shares of company stock worth $853,087 in the last quarter. 9.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. TheStreet raised Upwork from a “d+” rating to a “c-” rating in a research note on Wednesday, December 27th. UBS Group lifted their price objective on Upwork from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Royal Bank of Canada lifted their price objective on Upwork from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 15th. JMP Securities lifted their price objective on Upwork from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 15th. Finally, Needham & Company LLC lifted their price objective on Upwork from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.55.

Upwork Price Performance

UPWK opened at $11.25 on Thursday. The business has a fifty day moving average of $12.69 and a 200 day moving average of $13.15. Upwork Inc. has a 52-week low of $6.56 and a 52-week high of $16.36. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.93. The stock has a market cap of $1.55 billion, a P/E ratio of 160.74 and a beta of 1.67.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Upwork had a return on equity of 14.21% and a net margin of 6.80%. The company had revenue of $183.93 million during the quarter, compared to analysts’ expectations of $178.43 million. As a group, sell-side analysts anticipate that Upwork Inc. will post 0.42 EPS for the current year.

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.