Erica Gessert Sells 4,279 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 4,279 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total value of $73,213.69. Following the sale, the chief financial officer now directly owns 133,093 shares in the company, valued at $2,277,221.23. This trade represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, November 18th, Erica Gessert sold 19,816 shares of Upwork stock. The stock was sold at an average price of $15.13, for a total value of $299,816.08.

Upwork Stock Performance

Shares of NASDAQ UPWK opened at $16.44 on Monday. The business’s 50-day moving average price is $14.89 and its two-hundred day moving average price is $12.01. 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 one year low of $8.43 and a one year high of $18.14. The company has a market capitalization of $2.20 billion, a P/E ratio of 26.10 and a beta of 1.58.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $185.55 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. Analysts anticipate that Upwork Inc. will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of Upwork

A number of institutional investors and hedge funds have recently made changes to their positions in UPWK. Bristlecone Advisors LLC lifted its position in shares of Upwork by 89.1% in the second quarter. Bristlecone Advisors LLC now owns 23,231 shares of the company’s stock worth $250,000 after buying an additional 10,945 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Upwork in the second quarter worth about $54,000. Legato Capital Management LLC acquired a new stake in shares of Upwork in the second quarter worth about $575,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Upwork in the second quarter worth about $29,000. Finally, Panagora Asset Management Inc. lifted its position in shares of Upwork by 7.9% in the second quarter. Panagora Asset Management Inc. now owns 130,610 shares of the company’s stock worth $1,404,000 after buying an additional 9,528 shares during the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Analyst Ratings Changes

UPWK has been the topic of a number of recent analyst reports. UBS Group boosted their target price on Upwork from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Roth Mkm lifted their price target on Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Citigroup lifted their price target on Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, November 29th. JMP Securities lifted their price target on Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Finally, 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 report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.36.

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.