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

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 983 shares of Upwork stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $14.94, for a total value of $14,686.02. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, November 18th, Dave Bottoms sold 1,396 shares of Upwork stock. The shares were sold at an average price of $15.13, for a total value of $21,121.48.
• On Friday, November 8th, Dave Bottoms sold 10,508 shares of Upwork stock. The shares were sold at an average price of $15.86, for a total transaction of $166,656.88.
• On Wednesday, September 18th, Dave Bottoms sold 5,626 shares of Upwork stock. The shares were sold at an average price of $10.57, for a total transaction 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 Price Performance

NASDAQ UPWK opened at $15.73 on Friday. The firm’s 50-day simple moving average is $12.06 and its two-hundred day simple moving average is $11.18. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.87. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $17.79. The company has a market cap of $2.10 billion, a PE ratio of 24.41 and a beta of 1.49.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UPWK. UBS Group cut their price target on Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Canaccord Genuity Group raised their price target on shares of Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada reduced their price objective on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. BTIG Research upped their price target on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Citigroup reduced their target price on Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Institutional Trading of Upwork

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

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.