Upwork Inc. (NASDAQ:UPWK) CEO Sells $464,067.36 in Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 30,672 shares of Upwork stock in a transaction on Monday, November 18th. The shares were sold at an average price of $15.13, for a total transaction of $464,067.36. Following the completion of the transaction, the chief executive officer now owns 1,196,221 shares in the company, valued at approximately $18,098,823.73. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Hayden Brown also recently made the following trade(s):

• On Friday, November 8th, Hayden Brown sold 10,000 shares of Upwork stock. The stock was sold at an average price of $15.85, for a total value of $158,500.00.
• On Wednesday, September 18th, Hayden Brown sold 9,444 shares of Upwork stock. The shares were sold at an average price of $10.57, for a total value of $99,823.08.
• On Monday, September 16th, Hayden Brown sold 20,000 shares of Upwork stock. The shares were sold at an average price of $10.01, for a total value of $200,200.00.

Upwork Stock Up 4.2 %

UPWK opened at $16.02 on Friday. The stock has a market cap of $2.14 billion, a P/E ratio of 25.43 and a beta of 1.49. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.18 and a quick ratio of 3.18. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $17.79. The stock’s 50 day moving average price is $12.18 and its 200 day moving average price is $11.21.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The company had revenue of $193.78 million for the quarter, compared to analysts’ expectations of $185.55 million. During the same period last year, the firm earned $0.12 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, research analysts predict that Upwork Inc. will post 0.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on UPWK shares. Roth Mkm boosted their price objective on shares of Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JMP Securities upped their price objective on shares of Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. BTIG Research lifted their target price on Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group increased their price target on Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group dropped their price objective on Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Upwork presently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Institutional Investors Weigh In On Upwork

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd acquired a new stake in shares of Upwork during the 2nd quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Upwork in the 2nd quarter valued at $29,000. Quarry LP raised its position in shares of Upwork by 104.2% during the second 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 boosted its holdings in Upwork by 45.4% in the third 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. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Upwork in the second quarter worth about $54,000. Hedge funds and other 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.