Hayden Brown Sells 30,672 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 30,672 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $15.13, for a total transaction of $464,067.36. Following the completion of the sale, the chief executive officer now owns 1,196,221 shares in the company, valued at $18,098,823.73. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Hayden Brown also recently made the following trade(s):

• On Friday, November 8th, Hayden Brown sold 10,000 shares of Upwork stock. The shares were sold at an average price of $15.85, for a total transaction of $158,500.00.
• On Wednesday, September 18th, Hayden Brown sold 9,444 shares of Upwork stock. The stock was sold at an average price of $10.57, for a total value of $99,823.08.
• On Monday, September 16th, Hayden Brown sold 20,000 shares of Upwork stock. The stock was sold at an average price of $10.01, for a total value of $200,200.00.

Upwork Stock Performance

Upwork stock traded up $0.04 during mid-day trading on Wednesday, reaching $14.97. The company’s stock had a trading volume of 1,297,842 shares, compared to its average volume of 2,174,194. The firm’s fifty day moving average price is $11.94 and its two-hundred day moving average price is $11.15. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.18 and a current ratio of 3.18. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $17.79. The company has a market capitalization of $2.00 billion, a P/E ratio of 23.70 and a beta of 1.49.

Upwork (NASDAQ:UPWK) last released its earnings results 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. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The firm had revenue of $193.78 million during the quarter, compared to analyst estimates of $185.55 million. During the same period last year, the business earned $0.12 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. Sell-side analysts predict that Upwork Inc. will post 0.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

UPWK has been the topic of several analyst reports. BTIG Research raised their price objective on Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a report 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 report on Thursday, November 7th. Canaccord Genuity Group boosted their price objective on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. UBS Group decreased their target price on Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, The Goldman Sachs Group upped their price target on shares of Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three equities research 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Hedge Funds Weigh In On Upwork

Several hedge funds and other institutional investors have recently bought and sold shares of UPWK. Y Intercept Hong Kong Ltd purchased a new stake in Upwork in the third quarter valued at $355,000. XTX Topco Ltd raised its position in shares of Upwork by 198.6% during the 3rd quarter. XTX Topco Ltd now owns 60,509 shares of the company’s stock worth $632,000 after acquiring an additional 40,242 shares in the last quarter. Tabor Asset Management LP acquired a new position in Upwork in the third quarter valued at $993,000. Tenzing Global Management LLC raised its position in Upwork by 20.0% in the 3rd quarter. Tenzing Global Management LLC now owns 450,000 shares of the company’s stock valued at $4,702,000 after purchasing an additional 75,000 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Upwork by 228.0% in the third quarter. Stifel Financial Corp now owns 211,569 shares of the company’s stock valued at $2,211,000 after purchasing an additional 147,059 shares during the period. Institutional investors and hedge funds own 77.71% of the company’s stock.

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.