Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms Sells 1,396 Shares

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 1,396 shares of Upwork stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $15.13, for a total transaction of $21,121.48. Following the completion of the transaction, the vice president now directly owns 2,354 shares in the company, valued at approximately $35,616.02. This represents a 37.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Dave Bottoms also recently made the following trade(s):

• On Friday, November 15th, Dave Bottoms sold 983 shares of Upwork stock. The shares were sold at an average price of $14.94, for a total value of $14,686.02.
• On Friday, November 8th, Dave Bottoms sold 10,508 shares of Upwork stock. The shares were sold at an average price of $15.86, for a total transaction of $166,656.88.
• On Wednesday, September 18th, Dave Bottoms sold 5,626 shares of Upwork stock. The stock was sold at an average price of $10.57, for a total transaction of $59,466.82.
• On Tuesday, August 27th, Dave Bottoms sold 5,818 shares of Upwork stock. The shares were sold at an average price of $9.81, for a total value of $57,074.58.

Upwork Price Performance

UPWK stock opened at $14.97 on Thursday. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.87. The company’s fifty day simple moving average is $12.06 and its 200 day simple moving average is $11.18. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $17.79. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 23.76 and a beta of 1.49.

Upwork (NASDAQ:UPWK) last released its earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $193.78 million for the quarter, compared to the consensus estimate of $185.55 million. Upwork had a net margin of 11.26% and a return on equity of 22.84%. Upwork’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 EPS. On average, analysts expect that Upwork Inc. will post 0.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on UPWK shares. BTIG Research upped their target price on shares of Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JMP Securities boosted their target price on Upwork from $14.00 to $18.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Citigroup decreased their target price on Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. The Goldman Sachs Group raised their price target on Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada reduced their price target on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Institutional Investors Weigh In On Upwork

Several hedge funds and other institutional investors have recently modified their holdings of UPWK. Plato Investment Management Ltd acquired a new stake in Upwork in the 2nd quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Upwork during the second quarter worth about $29,000. Quarry LP raised its holdings in shares of Upwork by 104.2% in the 2nd quarter. Quarry LP now owns 4,350 shares of the company’s stock worth $47,000 after acquiring an additional 2,220 shares during the last quarter. KBC Group NV lifted its position in 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Upwork during the 2nd quarter worth approximately $54,000. Institutional investors own 77.71% of the company’s stock.

About Upwork

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.