Hayden Brown Sells 21,122 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 21,122 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value of $341,120.30. Following the completion of the sale, the chief executive officer now directly owns 1,275,083 shares of the company’s stock, valued at approximately $20,592,590.45. This trade represents a 1.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• 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 transaction 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.
• On Wednesday, November 27th, Hayden Brown sold 15,000 shares of Upwork stock. The shares were sold at an average price of $17.00, for a total value of $255,000.00.

Upwork Stock Performance

Shares of NASDAQ:UPWK opened at $15.63 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. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. The firm has a fifty day simple moving average of $16.30 and a two-hundred day simple moving average of $13.64. The stock has a market capitalization of $2.12 billion, a P/E ratio of 10.22 and a beta of 1.57.

Upwork (NASDAQ:UPWK) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, beating 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%. On average, analysts expect that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $18.00 target price on shares of Upwork in a research report on Thursday, January 30th. Canaccord Genuity Group boosted their price target on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their price objective on shares of Upwork from $16.00 to $18.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Roth Mkm lowered their target price on Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Citigroup increased their price target on shares of Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.91.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. KBC Group NV raised its holdings in shares of Upwork by 45.4% in the third 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. CWM LLC boosted its holdings in Upwork by 71.9% in the third quarter. CWM LLC now owns 5,896 shares of the company’s stock worth $62,000 after acquiring an additional 2,467 shares in the last quarter. Quarry LP grew its position in Upwork by 42.6% during the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after purchasing an additional 1,851 shares during the last quarter. Nkcfo LLC purchased a new stake in shares of Upwork during the fourth quarter valued at $82,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Upwork during the 4th quarter valued at about $84,000. 77.71% of the stock is currently owned by institutional investors.

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.