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

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 4,279 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $17.11, for a total value of $73,213.69. Following the transaction, the chief financial officer now directly owns 133,093 shares of the company’s stock, valued at approximately $2,277,221.23. This trade represents a 3.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $15.13, for a total value of $299,816.08.

Upwork Stock Performance

UPWK traded up $0.20 during midday trading on Friday, reaching $16.44. The company had a trading volume of 3,093,067 shares, compared to its average volume of 2,170,488. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average of $14.77 and a two-hundred day moving average of $11.95. The company has a market cap of $2.20 billion, a P/E ratio of 26.10 and a beta of 1.58. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14.

Upwork (NASDAQ:UPWK) last issued its quarterly 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. The business had revenue of $193.78 million during the quarter, compared to analysts’ expectations of $185.55 million. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.12 earnings per share. As a group, equities research analysts predict that Upwork Inc. will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of Upwork

Several institutional investors have recently made changes to their positions in the business. KBC Group NV grew its position in shares of Upwork by 45.4% during the third 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. Quarry LP grew its position in shares of Upwork by 42.6% during the third quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after purchasing an additional 1,851 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Upwork by 0.6% during the second quarter. Federated Hermes Inc. now owns 318,659 shares of the company’s stock worth $3,426,000 after purchasing an additional 1,996 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Upwork by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 66,809 shares of the company’s stock worth $718,000 after purchasing an additional 2,063 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its position in shares of Upwork by 18.4% during the third quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company’s stock worth $143,000 after purchasing an additional 2,129 shares in the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Canaccord Genuity Group raised 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. BTIG Research lifted their target price on Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Roth Mkm lifted their target price on Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and issued a $18.00 target price (up previously from $13.00) on shares of Upwork in a report on Thursday, November 7th. Finally, Citigroup lifted their target price on Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Upwork has an average rating of “Moderate Buy” and a consensus price target 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.