Upwork Inc. (NASDAQ:UPWK) Insider Sells $70,721.77 in Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 5,411 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total value of $70,721.77. Following the completion of the transaction, the insider now owns 9,593 shares in the company, valued at $125,380.51. The trade was a 36.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, February 18th, Dave Bottoms sold 1,543 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total value of $24,919.45.

Upwork Trading Up 0.9 %

NASDAQ UPWK opened at $13.57 on Friday. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The stock’s 50-day simple moving average is $15.39 and its two-hundred day simple moving average is $14.30. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 8.87 and a beta of 1.61.

Upwork (NASDAQ:UPWK) last released its earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. Research analysts forecast that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Jefferies Financial Group upped their price objective on Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Roth Mkm decreased their price objective on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Royal Bank of Canada boosted their target price on shares of Upwork from $16.00 to $18.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Needham & Company LLC lifted their price target on shares of Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, UBS Group upped their price objective on Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Upwork presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.58.

Hedge Funds Weigh In On Upwork

Institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in Upwork by 51.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock valued at $253,405,000 after buying an additional 5,289,493 shares during the period. Invesco Ltd. boosted its holdings in Upwork by 1,674.0% during the 4th quarter. Invesco Ltd. now owns 1,748,320 shares of the company’s stock valued at $28,585,000 after acquiring an additional 1,649,766 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Upwork by 86.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company’s stock worth $54,005,000 after acquiring an additional 1,534,078 shares during the last quarter. Contour Asset Management LLC purchased a new position in Upwork in the 4th quarter worth approximately $24,633,000. Finally, LSV Asset Management bought a new stake in Upwork in the fourth quarter valued at approximately $18,838,000. Institutional investors own 77.71% of the company’s stock.

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.