Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown Sells 60,000 Shares of Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $14.20, for a total transaction of $852,000.00. Following the completion of the transaction, the chief executive officer now owns 1,215,083 shares in the company, valued at $17,254,178.60. This represents a 4.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, February 18th, Hayden Brown sold 21,122 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total transaction of $341,120.30.
• On Wednesday, December 18th, Hayden Brown sold 8,997 shares of Upwork stock. The stock was sold at an average price of $17.12, for a total value of $154,028.64.
• On Monday, December 16th, Hayden Brown sold 20,000 shares of Upwork stock. The stock was sold at an average price of $16.84, for a total value of $336,800.00.

Upwork Price Performance

UPWK opened at $13.39 on Wednesday. The stock has a 50-day moving average price of $15.91 and a 200-day moving average price of $14.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. The firm has a market cap of $1.81 billion, a PE ratio of 8.75 and a beta of 1.61. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14.

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

Wall Street Analyst Weigh In

UPWK has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $18.00 price target on shares of Upwork in a research note on Thursday, January 30th. Roth Mkm dropped their price target on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Needham & Company LLC raised their price target on Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Citigroup raised their price objective on Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Finally, Jefferies Financial Group raised their price objective on Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, January 6th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.91.

Institutional Investors Weigh In On Upwork

Large investors have recently bought and sold shares of the business. Creative Planning bought a new stake in shares of Upwork during the 3rd quarter valued at about $207,000. Janney Montgomery Scott LLC bought a new stake in shares of Upwork during the 3rd quarter valued at about $858,000. Mesirow Financial Investment Management Inc. bought a new stake in shares of Upwork during the 3rd quarter valued at about $266,000. Victory Capital Management Inc. grew its stake in shares of Upwork by 133.5% during the 3rd quarter. Victory Capital Management Inc. now owns 116,899 shares of the company’s stock valued at $1,222,000 after purchasing an additional 66,842 shares during the period. Finally, KBC Group NV grew its stake in shares of Upwork by 45.4% during 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 period. 77.71% of the stock is currently 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.