94,000 Shares in Upwork Inc. $UPWK Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co acquired a new position in shares of Upwork Inc. (NASDAQ:UPWK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 94,000 shares of the company’s stock, valued at approximately $1,263,000. Elo Mutual Pension Insurance Co owned approximately 0.07% of Upwork at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. XTX Topco Ltd lifted its holdings in shares of Upwork by 32.3% during the 2nd quarter. XTX Topco Ltd now owns 57,182 shares of the company’s stock worth $769,000 after acquiring an additional 13,946 shares during the period. Prudential Financial Inc. acquired a new stake in Upwork in the 2nd quarter valued at $300,000. American Century Companies Inc. raised its stake in Upwork by 180.2% during the second quarter. American Century Companies Inc. now owns 339,813 shares of the company’s stock worth $4,567,000 after acquiring an additional 218,543 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Upwork by 5.8% in the 2nd quarter. Rhumbline Advisers now owns 193,199 shares of the company’s stock valued at $2,597,000 after purchasing an additional 10,539 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Upwork by 12.7% in the 2nd quarter. Legal & General Group Plc now owns 155,925 shares of the company’s stock worth $2,096,000 after purchasing an additional 17,618 shares during the last quarter. 77.71% of the stock is owned by institutional investors.

Upwork Price Performance

Shares of NASDAQ:UPWK opened at $19.58 on Friday. The business’s 50 day simple moving average is $17.52 and its 200 day simple moving average is $15.60. Upwork Inc. has a 1 year low of $11.13 and a 1 year high of $20.54. The company has a market capitalization of $2.56 billion, a P/E ratio of 11.19 and a beta of 1.57.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Upwork had a return on equity of 41.05% and a net margin of 31.63%.The firm had revenue of $201.73 million for the quarter, compared to the consensus estimate of $193.33 million. During the same period last year, the company posted $0.30 EPS. The business’s revenue was up 4.1% on a year-over-year basis. Upwork has set its FY 2025 guidance at 1.350-1.370 EPS. Q4 2025 guidance at 0.310-0.330 EPS. On average, sell-side analysts anticipate that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Upwork announced that its Board of Directors has approved a share buyback program on Wednesday, September 3rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $22.00 target price on shares of Upwork in a research report on Tuesday, November 4th. Royal Bank Of Canada boosted their price target on shares of Upwork from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 4th. Citizens Jmp reissued a “market outperform” rating and issued a $27.00 price target on shares of Upwork in a research note on Wednesday, November 19th. UBS Group lifted their price target on shares of Upwork from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Finally, Roth Capital restated a “buy” rating and set a $22.00 target price (up from $19.00) on shares of Upwork in a report on Wednesday, November 5th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Upwork presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.92.

Insider Buying and Selling at Upwork

In related news, insider Dave Bottoms sold 1,748 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $18.13, for a total value of $31,691.24. Following the sale, the insider owned 345 shares of the company’s stock, valued at $6,254.85. The trade was a 83.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gary Steele sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $17.51, for a total transaction of $218,875.00. Following the transaction, the director owned 85,129 shares of the company’s stock, valued at approximately $1,490,608.79. The trade was a 12.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 232,132 shares of company stock valued at $4,253,252 in the last quarter. 7.50% of the stock is currently owned by corporate insiders.

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.