SG Americas Securities LLC acquired a new position in shares of Upwork Inc (NASDAQ:UPWK) in the third quarter, HoldingsChannel reports. The firm acquired 12,173 shares of the company’s stock, valued at approximately $162,000.
Other institutional investors also recently bought and sold shares of the company. Marshall Wace North America L.P. purchased a new stake in Upwork during the 1st quarter worth about $38,000. Point72 Hong Kong Ltd purchased a new stake in Upwork during the 2nd quarter worth about $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Upwork during the 2nd quarter worth about $63,000. Royal Bank of Canada increased its position in Upwork by 349.8% during the 2nd quarter. Royal Bank of Canada now owns 4,071 shares of the company’s stock worth $65,000 after purchasing an additional 3,166 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in Upwork by 22.9% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,674 shares of the company’s stock worth $107,000 after purchasing an additional 1,245 shares in the last quarter. Hedge funds and other institutional investors own 52.33% of the company’s stock.
UPWK has been the subject of a number of recent research reports. Citigroup dropped their price objective on Upwork from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. First Analysis began coverage on Upwork in a research report on Thursday, October 31st. They set an “outperform” rating and a $18.00 price objective for the company. ValuEngine raised Upwork from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada decreased their price target on Upwork to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Zacks Investment Research lowered Upwork from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $21.60.
Shares of NASDAQ:UPWK opened at $11.65 on Friday. The stock’s 50-day moving average price is $13.45 and its two-hundred day moving average price is $14.76. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.92 and a quick ratio of 1.92. Upwork Inc has a 12-month low of $11.19 and a 12-month high of $25.00.
Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Upwork had a negative return on equity of 5.93% and a negative net margin of 5.17%. The firm had revenue of $78.80 million for the quarter, compared to analyst estimates of $77.75 million. During the same period last year, the company earned ($0.04) EPS. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. Analysts expect that Upwork Inc will post -0.15 earnings per share for the current fiscal year.
Upwork Inc operates an online marketplace that enables businesses (clients) to find and work with various independent professionals and agencies (freelancers). The company's platform provides access to talent with approximately 5,000 skills across approximately 70 categories, including content marketing, customer service, data science and analytics, graphic design, mobile development, sales, and Web development.
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