Upwork Inc. (NASDAQ:UPWK) is Dorsey Asset Management LLC’s 10th Largest Position

Dorsey Asset Management LLC raised its holdings in shares of Upwork Inc. (NASDAQ:UPWK) by 15.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,045,142 shares of the company’s stock after acquiring an additional 397,997 shares during the quarter. Upwork comprises approximately 5.1% of Dorsey Asset Management LLC’s portfolio, making the stock its 10th biggest holding. Dorsey Asset Management LLC owned approximately 2.28% of Upwork worth $49,788,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Nkcfo LLC purchased a new stake in Upwork during the 4th quarter worth about $82,000. SBI Securities Co. Ltd. bought a new stake in shares of Upwork during the fourth quarter valued at about $84,000. Financial Management Professionals Inc. purchased a new stake in shares of Upwork in the fourth quarter worth about $97,000. KBC Group NV boosted its position in shares of Upwork by 39.6% in the fourth quarter. KBC Group NV now owns 6,690 shares of the company’s stock valued at $109,000 after acquiring an additional 1,899 shares during the period. Finally, State of Tennessee Department of Treasury purchased a new position in Upwork during the fourth quarter valued at approximately $180,000. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Upwork Stock Performance

Shares of UPWK stock opened at $15.72 on Wednesday. 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 50 day moving average price of $13.31 and a 200-day moving average price of $14.95. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. The firm has a market capitalization of $2.13 billion, a PE ratio of 10.27 and a beta of 1.52.

Upwork (NASDAQ:UPWK) last posted its earnings results on Monday, May 5th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The business had revenue of $192.71 million during the quarter, compared to the consensus estimate of $188.49 million. Upwork had a net margin of 28.02% and a return on equity of 50.83%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. As a group, equities research analysts expect that Upwork Inc. will post 0.84 earnings per share for the current year.

Insider Buying and Selling at Upwork

In other news, insider Dave Bottoms sold 5,411 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total value of $70,721.77. Following the completion of the sale, the insider now directly owns 9,593 shares in the company, valued at $125,380.51. This represents a 36.06 % decrease in their position. The transaction 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 Upwork stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $17.58, for a total value of $1,318,500.00. Following the transaction, the director now owns 16,299 shares in the company, valued at $286,536.42. This trade represents a 82.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,108 shares of company stock valued at $3,046,648. 7.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on UPWK shares. BTIG Research downgraded shares of Upwork from a “buy” rating to a “neutral” rating in a report on Friday, April 4th. Citigroup dropped their price objective on Upwork from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday. JMP Securities reaffirmed a “market outperform” rating and issued a $18.00 price target on shares of Upwork in a research note on Thursday, January 30th. Roth Mkm lowered their price target on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price target on shares of Upwork in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.50.

Upwork Company 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.