Erica Gessert Sells 13,765 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 13,765 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total transaction of $222,304.75. Following the transaction, the chief financial officer now directly owns 156,828 shares of the company’s stock, valued at $2,532,772.20. This represents a 8.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Erica Gessert also recently made the following trade(s):

• On Wednesday, December 18th, Erica Gessert sold 4,279 shares of Upwork stock. The stock was sold at an average price of $17.11, for a total value of $73,213.69.

Upwork Trading Down 3.9 %

Shares of NASDAQ UPWK traded down $0.68 during midday trading on Thursday, reaching $16.76. The company had a trading volume of 3,338,335 shares, compared to its average volume of 2,702,107. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average price is $16.32 and its 200-day moving average price is $13.61. The stock has a market cap of $2.27 billion, a PE ratio of 10.95 and a beta of 1.57.

Upwork (NASDAQ:UPWK) last released its earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. On average, equities research analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current year.

Institutional Investors Weigh In On Upwork

A number of hedge funds and other institutional investors have recently modified their holdings of UPWK. KBC Group NV lifted its stake in shares of Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after acquiring an additional 1,497 shares during the last quarter. CWM LLC increased its holdings in Upwork by 71.9% during the 3rd quarter. CWM LLC now owns 5,896 shares of the company’s stock valued at $62,000 after purchasing an additional 2,467 shares during the period. Quarry LP increased its holdings in Upwork by 42.6% during the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after purchasing an additional 1,851 shares during the period. Nkcfo LLC purchased a new position in Upwork during the 4th quarter valued at about $82,000. Finally, SBI Securities Co. Ltd. purchased a new position in Upwork during the 4th quarter valued at about $84,000. Institutional investors own 77.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on UPWK shares. Piper Sandler reiterated an “overweight” rating and issued a $18.00 price target (up from $13.00) on shares of Upwork in a research report on Thursday, November 7th. BTIG Research lifted their price target on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group lifted their price target on Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group lifted their price target on Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.91.

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.