Eric Gilpin Sells 7,179 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWKGet Rating) insider Eric Gilpin sold 7,179 shares of Upwork stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $12.06, for a total transaction of $86,578.74. Following the sale, the insider now directly owns 39,238 shares in the company, valued at approximately $473,210.28. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Upwork Stock Up 2.7 %

Shares of Upwork stock opened at $11.97 on Thursday. The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 2.32. Upwork Inc. has a 52-week low of $11.29 and a 52-week high of $39.42. The company has a 50-day simple moving average of $13.52 and a two-hundred day simple moving average of $17.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in shares of Upwork by 10.0% in the second quarter. Van ECK Associates Corp now owns 6,002 shares of the company’s stock worth $124,000 after acquiring an additional 544 shares during the period. Harbor Investment Advisory LLC grew its stake in shares of Upwork by 154.4% in the second quarter. Harbor Investment Advisory LLC now owns 1,323 shares of the company’s stock worth $27,000 after acquiring an additional 803 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Upwork by 4.7% in the first quarter. Teacher Retirement System of Texas now owns 23,166 shares of the company’s stock worth $538,000 after acquiring an additional 1,041 shares during the period. UBS Group AG grew its stake in shares of Upwork by 30.7% in the third quarter. UBS Group AG now owns 4,634 shares of the company’s stock worth $63,000 after acquiring an additional 1,089 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in shares of Upwork in the second quarter worth approximately $27,000. 75.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on UPWK shares. Canaccord Genuity Group cut their target price on shares of Upwork from $36.00 to $25.00 in a research note on Friday, October 28th. The Goldman Sachs Group cut their target price on shares of Upwork from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, October 27th. Royal Bank of Canada cut their target price on shares of Upwork from $21.00 to $15.00 in a research note on Thursday, October 27th. Needham & Company LLC cut their target price on shares of Upwork from $27.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, October 27th. Finally, Piper Sandler lowered their price target on shares of Upwork from $30.00 to $20.00 in a research report on Wednesday, October 26th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.08.

About Upwork

(Get Rating)

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 sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.

Further Reading

Insider Buying and Selling by Quarter for Upwork (NASDAQ:UPWK)

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