18,085 Shares in Upwork Inc. (NASDAQ:UPWK) Bought by Mackenzie Financial Corp

Mackenzie Financial Corp acquired a new position in Upwork Inc. (NASDAQ:UPWK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,085 shares of the company’s stock, valued at approximately $269,000.

Several other institutional investors also recently modified their holdings of the business. Bailard Inc. grew its stake in shares of Upwork by 1.0% in the third quarter. Bailard Inc. now owns 92,045 shares of the company’s stock worth $1,046,000 after purchasing an additional 903 shares during the last quarter. CWM LLC lifted its holdings in Upwork by 107.1% in the third quarter. CWM LLC now owns 4,323 shares of the company’s stock valued at $49,000 after buying an additional 2,236 shares during the period. Aigen Investment Management LP lifted its holdings in Upwork by 11.7% in the third quarter. Aigen Investment Management LP now owns 39,033 shares of the company’s stock valued at $443,000 after buying an additional 4,077 shares during the period. Swiss National Bank lifted its holdings in Upwork by 1.7% in the third quarter. Swiss National Bank now owns 264,100 shares of the company’s stock valued at $3,000,000 after buying an additional 4,500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Upwork by 11.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,503 shares of the company’s stock valued at $653,000 after buying an additional 5,956 shares during the period. Institutional investors own 77.71% of the company’s stock.

Wall Street Analyst Weigh In

UPWK has been the topic of several recent analyst reports. Needham & Company LLC boosted their target price on shares of Upwork from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Jefferies Financial Group upgraded shares of Upwork from a “hold” rating to a “buy” rating and upped their price objective for the company from $13.00 to $20.00 in a report on Monday, January 8th. JMP Securities upped their price objective on shares of Upwork from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Thursday, February 15th. The Goldman Sachs Group upped their price objective on shares of Upwork from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Finally, UBS Group upped their price objective on shares of Upwork from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Upwork presently has an average rating of “Moderate Buy” and a consensus price target of $16.55.

Upwork Stock Up 3.4 %

Upwork stock opened at $11.56 on Monday. Upwork Inc. has a twelve month low of $6.56 and a twelve month high of $16.36. The firm has a 50 day moving average price of $12.28 and a 200-day moving average price of $13.16. The company has a market capitalization of $1.53 billion, a P/E ratio of 165.17 and a beta of 1.67. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.93.

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

Insider Activity

In other news, CEO Hayden Brown sold 43,714 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.86, for a total transaction of $562,162.04. Following the completion of the transaction, the chief executive officer now directly owns 1,165,980 shares of the company’s stock, valued at approximately $14,994,502.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 67,531 shares of company stock valued at $851,894 in the last three months. Company insiders own 9.00% of the company’s stock.

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.