Upwork Inc. (NASDAQ:UPWK) VP Sells $14,686.02 in Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 983 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $14.94, for a total transaction of $14,686.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, November 18th, Dave Bottoms sold 1,396 shares of Upwork stock. The stock was sold at an average price of $15.13, for a total transaction of $21,121.48.
• On Friday, November 8th, Dave Bottoms sold 10,508 shares of Upwork stock. The stock was sold at an average price of $15.86, for a total value 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 value 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 Stock Performance

NASDAQ UPWK opened at $14.93 on Wednesday. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $17.79. The firm has a market capitalization of $2.00 billion, a P/E ratio of 23.70 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. The business’s 50-day simple moving average is $11.94 and its 200-day simple moving average is $11.15.

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

Hedge Funds Weigh In On Upwork

A number of hedge funds have recently modified their holdings of UPWK. Canada Pension Plan Investment Board grew its stake in shares of Upwork by 186.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 306,900 shares of the company’s stock valued at $3,299,000 after buying an additional 199,900 shares in the last quarter. Vanguard Group Inc. grew its position in Upwork by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock worth $196,115,000 after acquiring an additional 770,088 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Upwork in the third quarter worth about $858,000. Bayesian Capital Management LP bought a new position in Upwork in the first quarter valued at about $567,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Upwork during the 2nd quarter worth $1,637,000. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on UPWK. The Goldman Sachs Group boosted their price objective on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Piper Sandler restated an “overweight” rating and set a $18.00 target price (up previously from $13.00) on shares of Upwork in a report on Thursday, November 7th. UBS Group reduced their target price on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Citigroup decreased their target price on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Finally, Canaccord Genuity Group upped their price objective on Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Upwork currently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

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.