Upwork Inc. (NASDAQ:UPWK) VP Sells $21,121.48 in Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 1,396 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $15.13, for a total value of $21,121.48. Following the completion of the transaction, the vice president now directly owns 2,354 shares in the company, valued at approximately $35,616.02. This represents a 37.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, November 15th, Dave Bottoms sold 983 shares of Upwork stock. The shares were 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.
• On Wednesday, September 18th, Dave Bottoms sold 5,626 shares of Upwork stock. The stock was 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 stock was sold at an average price of $9.81, for a total value of $57,074.58.

Upwork Stock Performance

UPWK stock opened at $16.02 on Friday. The firm has a market cap of $2.14 billion, a PE ratio of 25.43 and a beta of 1.49. 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 stock has a 50-day moving average price of $12.18 and a 200-day moving average price of $11.21. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $17.79.

Upwork (NASDAQ:UPWK) last issued its earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share 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 the consensus estimate of $185.55 million. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 earnings per share. As a group, equities research analysts expect that Upwork Inc. will post 0.65 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Plato Investment Management Ltd bought a new position in shares of Upwork in the second quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Upwork in the second quarter valued at about $29,000. Quarry LP boosted its holdings in Upwork by 104.2% during the second quarter. Quarry LP now owns 4,350 shares of the company’s stock worth $47,000 after purchasing an additional 2,220 shares during the last quarter. KBC Group NV grew its position 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 in the 2nd quarter valued at about $54,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on UPWK. Roth Mkm boosted their target price on Upwork from $13.00 to $20.00 and gave the stock a “buy” rating 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 company a “market outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price target on shares of Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada cut their price objective on Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Finally, Canaccord Genuity Group upped their target price on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Upwork presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

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.