Barclays PLC acquired a new position in shares of Upwork Inc (NASDAQ:UPWK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,132 shares of the company’s stock, valued at approximately $93,000.
Other institutional investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Upwork during the 4th quarter worth approximately $34,000. Citigroup Inc. bought a new stake in shares of Upwork during the 4th quarter worth approximately $60,000. Strs Ohio bought a new stake in shares of Upwork during the 4th quarter worth approximately $61,000. First Mercantile Trust Co. bought a new stake in Upwork in the 4th quarter valued at $130,000. Finally, American International Group Inc. bought a new stake in Upwork in the 4th quarter valued at $150,000. Institutional investors own 35.67% of the company’s stock.
UPWK opened at $19.52 on Thursday. Upwork Inc has a 1-year low of $15.68 and a 1-year high of $25.00. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.13 billion and a P/E ratio of -51.37.
Upwork (NASDAQ:UPWK) last posted its quarterly earnings results on Thursday, February 28th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $67.34 million during the quarter, compared to the consensus estimate of $65.63 million. As a group, equities analysts expect that Upwork Inc will post -0.16 earnings per share for the current year.
In related news, major shareholder Globespan Management Associate sold 2,000,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $18.00, for a total value of $36,000,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Separately, Zacks Investment Research cut Upwork from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $22.20.
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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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