Hayden Brown Sells 21,122 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 21,122 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total value of $341,120.30. Following the transaction, the chief executive officer now owns 1,275,083 shares in the company, valued at $20,592,590.45. The trade was a 1.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Wednesday, December 18th, Hayden Brown sold 8,997 shares of Upwork stock. The stock was sold at an average price of $17.12, for a total value of $154,028.64.
• On Monday, December 16th, Hayden Brown sold 20,000 shares of Upwork stock. The stock was sold at an average price of $16.84, for a total value of $336,800.00.
• On Wednesday, November 27th, Hayden Brown sold 15,000 shares of Upwork stock. The stock was sold at an average price of $17.00, for a total value of $255,000.00.

Upwork Price Performance

Shares of NASDAQ:UPWK opened at $16.76 on Friday. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The stock has a market cap of $2.27 billion, a PE ratio of 10.95 and a beta of 1.57. The business’s fifty day moving average price is $16.32 and its two-hundred day moving average price is $13.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, topping 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, analysts forecast that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on UPWK. Piper Sandler restated an “overweight” rating and issued a $18.00 price target (up previously from $13.00) on shares of Upwork in a report on Thursday, November 7th. The Goldman Sachs Group upped their price target on Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group upped their price target on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Citigroup upped their price target on Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Finally, Needham & Company LLC upped their price target on Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.91.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. KBC Group NV lifted its stake in shares of Upwork by 45.4% during the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after purchasing an additional 1,497 shares during the period. Nkcfo LLC purchased a new position in shares of Upwork during the 4th quarter worth $82,000. SBI Securities Co. Ltd. purchased a new position in shares of Upwork in the 4th quarter worth $84,000. CWM LLC raised its position in shares of Upwork by 71.9% in the 3rd quarter. CWM LLC now owns 5,896 shares of the company’s stock worth $62,000 after buying an additional 2,467 shares during the period. Finally, Financial Management Professionals Inc. purchased a new position in shares of Upwork in the 4th quarter worth $97,000. Hedge funds and other institutional investors own 77.71% of the company’s stock.

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.