Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert Sells 13,765 Shares

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 13,765 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value of $222,304.75. Following the completion of the transaction, the chief financial officer now owns 156,828 shares in the company, valued at $2,532,772.20. The trade was a 8.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Erica Gessert also recently made the following trade(s):

• On Wednesday, December 18th, Erica Gessert sold 4,279 shares of Upwork stock. The shares were sold at an average price of $17.11, for a total value of $73,213.69.

Upwork Price Performance

Shares of NASDAQ UPWK opened at $16.76 on Friday. The business’s 50 day moving average is $16.32 and its 200-day moving average is $13.61. The firm has a market cap of $2.27 billion, a P/E ratio of 10.95 and a beta of 1.57. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $18.00 price target (up previously from $13.00) on shares of Upwork in a research note on Thursday, November 7th. UBS Group increased their target price on Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Canaccord Genuity Group increased 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. The Goldman Sachs Group boosted their price target on Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada raised 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. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.91.

Institutional Investors Weigh In On Upwork

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. KBC Group NV raised its holdings 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 acquiring an additional 1,497 shares in the last quarter. Nkcfo LLC acquired a new stake in Upwork during the fourth quarter worth about $82,000. SBI Securities Co. Ltd. bought a new position in Upwork in the 4th quarter valued at about $84,000. CWM LLC raised its position in shares of Upwork by 71.9% in the 3rd quarter. CWM LLC now owns 5,896 shares of the company’s stock valued at $62,000 after buying an additional 2,467 shares in the last quarter. Finally, Financial Management Professionals Inc. bought a new stake in shares of Upwork during the 4th quarter worth approximately $97,000. 77.71% of the stock is currently owned by institutional investors and hedge funds.

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.