Mizuho Markets Americas LLC Sells 10,000 Shares of Upwork Inc. (NASDAQ:UPWK)

Mizuho Markets Americas LLC lessened its position in Upwork Inc. (NASDAQ:UPWK) by 16.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,443 shares of the company’s stock after selling 10,000 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Upwork were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC increased its holdings in shares of Upwork by 67.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock worth $30,000 after purchasing an additional 803 shares in the last quarter. Essex Investment Management Co. LLC raised its stake in Upwork by 56.2% during the 1st quarter. Essex Investment Management Co. LLC now owns 4,724 shares of the company’s stock valued at $58,000 after purchasing an additional 1,700 shares during the period. ProShare Advisors LLC raised its position in shares of Upwork by 8.6% during the first quarter. ProShare Advisors LLC now owns 22,483 shares of the company’s stock valued at $276,000 after buying an additional 1,771 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Upwork by 17.1% in the 1st quarter. Principal Financial Group Inc. now owns 16,823 shares of the company’s stock worth $206,000 after purchasing an additional 2,457 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Upwork by 1.1% during the first quarter. Swiss National Bank now owns 241,900 shares of the company’s stock valued at $2,966,000 after buying an additional 2,600 shares during the last quarter. Institutional investors own 77.71% of the company’s stock.

Upwork Trading Up 0.3 %

NASDAQ:UPWK traded up $0.03 on Friday, reaching $9.64. The company’s stock had a trading volume of 1,691,514 shares, compared to its average volume of 3,496,303. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $16.36. The stock has a 50 day moving average price of $10.61 and a 200 day moving average price of $11.45. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 27.54 and a beta of 1.57. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.99.

Upwork (NASDAQ:UPWK) last posted its earnings results on Wednesday, August 7th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Upwork had a net margin of 10.00% and a return on equity of 20.75%. The company had revenue of $193.13 million for the quarter, compared to analysts’ expectations of $193.05 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. Upwork’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities analysts anticipate that Upwork Inc. will post 0.51 EPS for the current fiscal year.

Insider Transactions at Upwork

In other Upwork news, VP Dave Bottoms sold 5,818 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $9.81, for a total transaction of $57,074.58. Following the sale, the vice president now directly owns 5,818 shares in the company, valued at approximately $57,074.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Erica Gessert sold 4,537 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $10.22, for a total value of $46,368.14. Following the sale, the chief financial officer now directly owns 90,166 shares in the company, valued at approximately $921,496.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dave Bottoms sold 5,818 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $9.81, for a total transaction of $57,074.58. Following the transaction, the vice president now owns 5,818 shares of the company’s stock, valued at approximately $57,074.58. The disclosure for this sale can be found here. Insiders sold a total of 72,462 shares of company stock worth $707,130 over the last ninety days. Company insiders own 7.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on UPWK shares. Roth Mkm lowered their price objective on shares of Upwork from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Upwork in a research note on Wednesday, May 15th. Royal Bank of Canada reduced their price target on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Piper Sandler dropped their price objective on Upwork from $20.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group cut their price target on shares of Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.70.

About Upwork

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.