XTX Topco Ltd Boosts Stake in Upwork Inc. (NASDAQ:UPWK)

XTX Topco Ltd lifted its holdings in Upwork Inc. (NASDAQ:UPWK) by 198.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,509 shares of the company’s stock after buying an additional 40,242 shares during the period. XTX Topco Ltd’s holdings in Upwork were worth $632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Divisadero Street Capital Management LP lifted its stake in shares of Upwork by 32.9% in the second quarter. Divisadero Street Capital Management LP now owns 3,320,912 shares of the company’s stock worth $35,700,000 after buying an additional 822,518 shares in the last quarter. Invenomic Capital Management LP raised its stake in Upwork by 12.5% during the third quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company’s stock worth $24,397,000 after purchasing an additional 260,274 shares during the period. Dimensional Fund Advisors LP raised its stake in Upwork by 27.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,806,969 shares of the company’s stock worth $19,424,000 after purchasing an additional 389,006 shares during the period. Acadian Asset Management LLC raised its stake in Upwork by 71.0% during the second quarter. Acadian Asset Management LLC now owns 1,635,602 shares of the company’s stock worth $17,572,000 after purchasing an additional 679,028 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Upwork by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,011,508 shares of the company’s stock worth $10,570,000 after purchasing an additional 14,680 shares during the period. 77.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Upwork news, CEO Hayden Brown sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $17.00, for a total value of $255,000.00. Following the sale, the chief executive officer now directly owns 1,181,221 shares of the company’s stock, valued at approximately $20,080,757. This represents a 1.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Elizabeth A. Nelson sold 75,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $10.54, for a total transaction of $790,500.00. Following the completion of the sale, the director now directly owns 48,915 shares in the company, valued at approximately $515,564.10. This represents a 60.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 214,808 shares of company stock worth $2,756,163 in the last 90 days. Corporate insiders own 7.60% of the company’s stock.

Upwork Trading Down 1.6 %

Shares of UPWK stock opened at $17.02 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.18 and a current ratio of 3.18. The stock has a market capitalization of $2.28 billion, a P/E ratio of 27.02 and a beta of 1.58. The company has a 50 day moving average price of $14.15 and a 200 day moving average price of $11.74. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $17.79.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $193.78 million during the quarter, compared to analysts’ expectations of $185.55 million. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 earnings per share. Equities research analysts predict that Upwork Inc. will post 0.65 EPS for the current fiscal year.

Analyst Ratings Changes

UPWK has been the topic of a number of analyst reports. BTIG Research lifted their target price on shares of Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JMP Securities lifted their target price on shares of Upwork from $14.00 to $18.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their target price on shares of Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Citigroup lifted their price target on shares of Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Finally, Roth Mkm lifted their price target on shares of Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Upwork presently has a consensus rating of “Moderate Buy” and an average target price of $18.36.

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.