Upwork Inc. (NASDAQ:UPWK) CFO Sells $299,816.08 in Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 19,816 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $15.13, for a total transaction of $299,816.08. Following the completion of the sale, the chief financial officer now directly owns 128,939 shares of the company’s stock, valued at approximately $1,950,847.07. The trade was a 13.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, September 18th, Erica Gessert sold 4,491 shares of Upwork stock. The stock was sold at an average price of $10.57, for a total value of $47,469.87.

Upwork Trading Up 0.3 %

UPWK opened at $14.97 on Thursday. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 23.76 and a beta of 1.49. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $17.79. The stock has a fifty day moving average price of $12.06 and a 200-day moving average price of $11.18.

Upwork (NASDAQ:UPWK) last announced its earnings results on Wednesday, November 6th. The company reported $0.29 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 business had revenue of $193.78 million during the quarter, compared to the consensus estimate of $185.55 million. During the same period in the previous year, the company posted $0.12 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. As a group, equities research analysts anticipate that Upwork Inc. will post 0.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Upwork

Several institutional investors have recently bought and sold shares of UPWK. Plato Investment Management Ltd purchased a new stake in shares of Upwork during the 2nd quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Upwork during the second quarter worth about $29,000. Quarry LP increased its holdings in shares of Upwork by 104.2% during the second quarter. Quarry LP now owns 4,350 shares of the company’s stock valued at $47,000 after acquiring an additional 2,220 shares in the last quarter. KBC Group NV boosted its stake in Upwork by 45.4% in 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Upwork during the 2nd quarter worth approximately $54,000. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UPWK has been the topic of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price objective (up previously from $13.00) on shares of Upwork in a research report on Thursday, November 7th. The Goldman Sachs Group raised their price target on shares of Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. UBS Group lowered their price objective on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Roth Mkm raised their target price on shares of Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, BTIG Research boosted their price target on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, November 7th. 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, the company 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.