Upwork Inc. $UPWK Shares Acquired by Fiera Capital Corp

Fiera Capital Corp grew its position in shares of Upwork Inc. (NASDAQ:UPWK) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,065,373 shares of the company’s stock after purchasing an additional 14,573 shares during the quarter. Fiera Capital Corp owned approximately 0.81% of Upwork worth $14,319,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC increased its holdings in Upwork by 415.9% in the second quarter. LRI Investments LLC now owns 2,528 shares of the company’s stock valued at $34,000 after buying an additional 2,038 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Upwork by 3,492.8% in the 1st quarter. IFP Advisors Inc now owns 3,988 shares of the company’s stock valued at $52,000 after purchasing an additional 3,877 shares in the last quarter. Alpine Global Management LLC acquired a new position in Upwork in the 1st quarter worth about $130,000. SeaCrest Wealth Management LLC boosted its position in Upwork by 8.0% during the second quarter. SeaCrest Wealth Management LLC now owns 10,800 shares of the company’s stock worth $145,000 after purchasing an additional 800 shares in the last quarter. Finally, Ethic Inc. grew its holdings in Upwork by 11.1% in the second quarter. Ethic Inc. now owns 14,393 shares of the company’s stock valued at $196,000 after purchasing an additional 1,443 shares during the period. 77.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Upwork

In other Upwork news, insider Dave Bottoms sold 10,014 shares of the company’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $19.96, for a total value of $199,879.44. Following the completion of the sale, the insider directly owned 345 shares in the company, valued at $6,886.20. This represents a 96.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hayden Brown sold 20,000 shares of Upwork stock in a transaction on Friday, September 19th. The stock was sold at an average price of $20.00, for a total value of $400,000.00. Following the transaction, the chief executive officer owned 1,082,358 shares in the company, valued at approximately $21,647,160. This represents a 1.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 161,282 shares of company stock valued at $2,826,602. 7.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

UPWK has been the subject of several research analyst reports. Royal Bank Of Canada upped their target price on Upwork from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 4th. Citigroup restated a “neutral” rating and set a $19.00 price objective (up from $16.00) on shares of Upwork in a research report on Tuesday, November 4th. Needham & Company LLC lifted their target price on shares of Upwork from $19.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. UBS Group upped their price target on shares of Upwork from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, Scotiabank raised their price target on shares of Upwork from $15.00 to $17.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 4th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Upwork Stock Up 0.1%

Upwork stock opened at $17.05 on Friday. The company has a fifty day simple moving average of $17.29 and a 200-day simple moving average of $15.36. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 9.74 and a beta of 1.57. Upwork Inc. has a 52-week low of $11.13 and a 52-week high of $20.54.

Upwork (NASDAQ:UPWK) last posted 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 business had revenue of $201.73 million for the quarter, compared to analyst estimates of $193.33 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. Upwork has set its FY 2025 guidance at 1.350-1.370 EPS. Q4 2025 guidance at 0.310-0.330 EPS. On average, research analysts anticipate that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Upwork announced that its Board of Directors has initiated a share buyback plan on Wednesday, September 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 4.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.