Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown Sells 15,000 Shares

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 15,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $17.00, for a total transaction of $255,000.00. Following the completion of the transaction, the chief executive officer now owns 1,181,221 shares of the company’s stock, valued at approximately $20,080,757. The trade was a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, November 18th, Hayden Brown sold 30,672 shares of Upwork stock. The stock was sold at an average price of $15.13, for a total transaction of $464,067.36.
• On Friday, November 8th, Hayden Brown sold 10,000 shares of Upwork stock. The stock was 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 transaction of $99,823.08.
• On Monday, September 16th, Hayden Brown sold 20,000 shares of Upwork stock. The shares were sold at an average price of $10.01, for a total transaction of $200,200.00.

Upwork Stock Up 2.1 %

Shares of NASDAQ:UPWK traded up $0.35 during mid-day trading on Monday, hitting $17.32. 3,362,356 shares of the company traded hands, compared to its average volume of 2,188,354. 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 52-week low of $8.43 and a 52-week high of $17.79. The firm’s 50 day simple moving average is $12.93 and its 200 day simple moving average is $11.38. The firm has a market cap of $2.32 billion, a P/E ratio of 26.94 and a beta of 1.49.

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

Analyst Upgrades and Downgrades

UPWK has been the topic of several recent research reports. UBS Group dropped their target price on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group raised their price target on shares of Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 target price (up from $13.00) on shares of Upwork in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on shares of Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, BTIG Research lifted their target price on shares of Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.73.

Institutional Investors Weigh In On Upwork

Hedge funds have recently bought and sold shares of the business. Plato Investment Management Ltd acquired a new position in shares of Upwork during the 2nd quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Upwork in the 2nd quarter valued at $29,000. Quarry LP raised its position in Upwork by 104.2% in the 2nd quarter. Quarry LP now owns 4,350 shares of the company’s stock valued at $47,000 after purchasing an additional 2,220 shares during the last quarter. KBC Group NV raised its position in Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after purchasing an additional 1,497 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Upwork in the 2nd quarter valued at $54,000. 77.71% of the stock is owned by hedge funds and other 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.