Dave Bottoms Sells 10,508 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 10,508 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.86, for a total transaction of $166,656.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• 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 transaction of $57,074.58.
• On Monday, August 19th, Dave Bottoms sold 1,433 shares of Upwork stock. The stock was sold at an average price of $9.65, for a total transaction of $13,828.45.

Upwork Trading Down 3.9 %

Shares of NASDAQ UPWK opened at $15.10 on Friday. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $17.79. The company has a market cap of $2.02 billion, a PE ratio of 23.97 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 company has a 50-day moving average of $11.60 and a two-hundred day moving average of $11.11.

Upwork (NASDAQ:UPWK) last announced 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. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The company had revenue of $193.78 million during the quarter, compared to the consensus estimate of $185.55 million. During the same period in the previous year, the firm posted $0.12 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. As a group, equities analysts expect that Upwork Inc. will post 0.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on UPWK. Royal Bank of Canada decreased their target price on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. JMP Securities lifted their target price on shares of Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. UBS Group decreased their target price on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Piper Sandler reiterated an “overweight” rating and set a $18.00 target price (up from $13.00) on shares of Upwork in a research report on Thursday, November 7th. Finally, Citigroup decreased their target price on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Upwork presently has an average rating of “Moderate Buy” and an average target price of $17.00.

Hedge Funds Weigh In On Upwork

A number of institutional investors have recently modified their holdings of UPWK. Plato Investment Management Ltd bought a new position in shares of Upwork in the second quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Upwork during the second quarter worth approximately $29,000. Quarry LP raised its stake in shares of Upwork by 104.2% during the second quarter. Quarry LP now owns 4,350 shares of the company’s stock worth $47,000 after buying an additional 2,220 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Upwork during the first quarter worth approximately $49,000. Finally, KBC Group NV raised its stake in shares of Upwork by 45.4% during the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after buying an additional 1,497 shares during the last quarter. 77.71% of the stock is owned by 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.