6,960 Shares in Upwork Inc (UPWK) Purchased by Metropolitan Life Insurance Co. NY

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Metropolitan Life Insurance Co. NY acquired a new position in Upwork Inc (NASDAQ:UPWK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,960 shares of the company’s stock, valued at approximately $126,000.

Several other institutional investors and hedge funds have also made changes to their positions in UPWK. BlackRock Inc. bought a new stake in shares of Upwork in the 4th quarter worth approximately $16,901,000. Lord Abbett & CO. LLC bought a new stake in shares of Upwork in the 4th quarter worth approximately $12,994,000. Geode Capital Management LLC bought a new stake in shares of Upwork in the 4th quarter worth approximately $10,383,000. Northern Trust Corp bought a new stake in shares of Upwork in the 4th quarter worth approximately $4,842,000. Finally, Columbus Circle Investors bought a new stake in shares of Upwork in the 4th quarter worth approximately $1,745,000. Hedge funds and other institutional investors own 35.67% of the company’s stock.

Shares of NASDAQ UPWK opened at $18.76 on Friday. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.07. Upwork Inc has a 52 week low of $15.68 and a 52 week high of $25.00. The firm has a market capitalization of $2.00 billion and a P/E ratio of -49.37.

Upwork (NASDAQ:UPWK) last issued its earnings results on Thursday, February 28th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $67.34 million during the quarter, compared to analysts’ expectations of $65.63 million. On average, analysts anticipate that Upwork Inc will post -0.16 earnings per share for the current fiscal year.

In related news, major shareholder Globespan Management Associate sold 2,000,000 shares of Upwork stock in a transaction on Monday, April 1st. The shares were sold at an average price of $18.00, for a total value of $36,000,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

A number of equities research analysts have recently weighed in on UPWK shares. BTIG Research started coverage on shares of Upwork in a report on Thursday, April 11th. They issued a “buy” rating and a $24.00 price objective for the company. Zacks Investment Research lowered shares of Upwork from a “hold” rating to a “sell” rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $22.50.

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Upwork Company Profile

Upwork Inc operates an online platform that connects businesses and freelancers. Its platform comprise freelancers in content marketing, customer service, data science and analytics, graphic design, mobile development, sales, and web development categories. The company was formerly known as Elance-oDesk, Inc and changed its name to Upwork Inc in May 2015.

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Institutional Ownership by Quarter for Upwork (NASDAQ:UPWK)

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