Upwork Inc. (NASDAQ:UPWK) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC decreased its stake in shares of Upwork Inc. (NASDAQ:UPWK) by 24.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,675 shares of the company’s stock after selling 12,810 shares during the period. Legato Capital Management LLC’s holdings in Upwork were worth $665,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of UPWK. KBC Group NV raised its stake in Upwork by 45.4% during the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after buying an additional 1,497 shares in the last quarter. CWM LLC lifted its holdings in Upwork by 71.9% during the 3rd quarter. CWM LLC now owns 5,896 shares of the company’s stock worth $62,000 after buying an additional 2,467 shares during the last quarter. Quarry LP lifted its holdings in Upwork by 42.6% during the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after buying an additional 1,851 shares during the last quarter. Financial Management Professionals Inc. bought a new position in Upwork during the 4th quarter worth approximately $97,000. Finally, Citizens Financial Group Inc. RI lifted its holdings in Upwork by 18.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company’s stock worth $143,000 after buying an additional 2,129 shares during the last quarter. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Upwork

In other Upwork news, CFO Erica Gessert sold 19,816 shares of Upwork stock in a transaction on Monday, November 18th. The stock was sold at an average price of $15.13, for a total transaction of $299,816.08. Following the sale, the chief financial officer now owns 128,939 shares of the company’s stock, valued at $1,950,847.07. The trade was a 13.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hayden Brown sold 15,000 shares of Upwork stock in a transaction 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 in the company, valued at $20,080,757. The trade was a 1.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 183,203 shares of company stock valued at $3,042,191 in the last quarter. Corporate insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank of Canada increased their target price on Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and set a $18.00 target price on shares of Upwork in a report on Thursday, January 30th. Roth Mkm reduced their target price on Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday. The Goldman Sachs Group increased their target price on Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Citigroup increased their target price on Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.91.

Upwork Trading Up 6.6 %

Shares of NASDAQ UPWK opened at $16.56 on Friday. The stock’s 50 day simple moving average is $16.38 and its 200 day simple moving average is $13.43. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 26.29 and a beta of 1.57. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14.

Upwork (NASDAQ:UPWK) last announced its earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.79. Upwork had a return on equity of 22.84% and a net margin of 11.26%. Equities research analysts expect that Upwork Inc. will post 0.65 EPS for the current year.

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.