Upwork Inc. (NASDAQ:UPWK) VP Sells $91,709.60 in Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 5,360 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $17.11, for a total transaction of $91,709.60. Following the completion of the sale, the vice president now owns 9,642 shares in the company, valued at approximately $164,974.62. This trade represents a 35.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 15th, Dave Bottoms sold 983 shares of Upwork stock. The stock was sold at an average price of $14.94, for a total transaction of $14,686.02.
• 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 transaction of $166,656.88.

Upwork Trading Up 1.2 %

Upwork stock opened at $16.44 on Monday. The firm has a 50 day simple moving average of $14.89 and a 200-day simple moving average of $12.01. 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 stock has a market capitalization of $2.20 billion, a PE ratio of 26.10 and a beta of 1.58. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 11.26% and a return on equity of 22.84%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $0.12 earnings per share. As a group, equities research analysts expect that Upwork Inc. will post 0.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on UPWK. Piper Sandler reiterated an “overweight” rating and set a $18.00 price objective (up previously from $13.00) on shares of Upwork in a research note on Thursday, November 7th. JMP Securities increased their price objective on shares of Upwork from $14.00 to $18.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group increased their price objective on shares of Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Roth Mkm increased their price objective on shares of Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, BTIG Research upped their target price on shares of Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in UPWK. Divisadero Street Capital Management LP boosted its holdings in shares of Upwork by 32.9% in the second quarter. Divisadero Street Capital Management LP now owns 3,320,912 shares of the company’s stock valued at $35,700,000 after acquiring an additional 822,518 shares in the last quarter. Verition Fund Management LLC bought a new stake in Upwork during the third quarter worth approximately $8,369,000. Acadian Asset Management LLC boosted its holdings in Upwork by 71.0% during the second quarter. Acadian Asset Management LLC now owns 1,635,602 shares of the company’s stock worth $17,572,000 after buying an additional 679,028 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Upwork by 2,216.8% during the third quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company’s stock worth $5,263,000 after buying an additional 481,942 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Upwork by 27.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,806,969 shares of the company’s stock worth $19,424,000 after buying an additional 389,006 shares in the last quarter. 77.71% of the stock is currently owned by institutional investors.

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.