Upwork Inc. (NASDAQ:UPWK) Shares Sold by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC lessened its stake in Upwork Inc. (NASDAQ:UPWK) by 25.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,896 shares of the company’s stock after selling 4,451 shares during the period. Sherbrooke Park Advisers LLC’s holdings in Upwork were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of UPWK. KBC Group NV boosted its stake in 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 in the last quarter. Stoneridge Investment Partners LLC boosted its stake in Upwork by 19.9% in the fourth quarter. Stoneridge Investment Partners LLC now owns 16,566 shares of the company’s stock valued at $271,000 after acquiring an additional 2,744 shares in the last quarter. Bristlecone Advisors LLC boosted its stake in Upwork by 54.9% in the fourth quarter. Bristlecone Advisors LLC now owns 65,113 shares of the company’s stock valued at $1,065,000 after acquiring an additional 23,090 shares in the last quarter. Rhumbline Advisers boosted its stake in Upwork by 1.4% in the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock valued at $2,914,000 after acquiring an additional 2,387 shares in the last quarter. Finally, Nkcfo LLC acquired a new stake in shares of Upwork during the fourth quarter worth about $82,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Insider Buying and Selling at Upwork

In other Upwork news, insider Dave Bottoms sold 5,411 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total value of $70,721.77. Following the completion of the transaction, the insider now directly owns 9,593 shares of the company’s stock, valued at approximately $125,380.51. This trade represents a 36.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Erica Gessert sold 19,677 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $16.56, for a total transaction of $325,851.12. Following the completion of the transaction, the chief financial officer now directly owns 181,873 shares of the company’s stock, valued at approximately $3,011,816.88. This trade represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 563,593 shares of company stock valued at $9,424,837. Corporate insiders own 7.50% of the company’s stock.

Upwork Price Performance

Shares of NASDAQ:UPWK opened at $16.46 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 market cap of $2.17 billion, a P/E ratio of 10.76 and a beta of 1.52. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. The company has a 50-day moving average price of $13.87 and a 200 day moving average price of $15.25.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. The firm 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 earnings per share. Research analysts predict that Upwork Inc. will post 0.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

UPWK has been the subject of several recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 target price on shares of Upwork in a research note on Tuesday, May 6th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of Upwork in a research note on Tuesday, May 6th. Jefferies Financial Group decreased their target price on shares of Upwork from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 7th. BTIG Research downgraded shares of Upwork from a “buy” rating to a “neutral” rating in a research note on Friday, April 4th. Finally, JMP Securities increased their target price on shares of Upwork from $18.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, May 16th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Upwork currently has a consensus rating of “Moderate Buy” and an average target price of $18.67.

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.