Insider Selling: Upwork Inc. (NASDAQ:UPWK) VP Sells $24,919.45 in Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 1,543 shares of Upwork stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value of $24,919.45. Following the transaction, the vice president now directly owns 2,207 shares in the company, valued at approximately $35,643.05. The trade was a 41.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, December 18th, Dave Bottoms sold 5,360 shares of Upwork stock. The stock was sold at an average price of $17.11, for a total transaction of $91,709.60.

Upwork Trading Down 6.7 %

Shares of UPWK opened at $15.63 on Friday. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The company’s fifty day moving average is $16.30 and its 200 day moving average is $13.66. The stock has a market capitalization of $2.12 billion, a PE ratio of 10.22 and a beta of 1.57.

Upwork (NASDAQ:UPWK) last posted 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 net margin of 28.02% and a return on equity of 50.83%. Sell-side analysts expect that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Upwork

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cache Advisors LLC bought a new position in shares of Upwork during the 4th quarter valued at approximately $1,324,000. PharVision Advisers LLC bought a new position in Upwork during the fourth quarter valued at $345,000. Two Sigma Advisers LP raised its stake in shares of Upwork by 40.1% in the fourth quarter. Two Sigma Advisers LP now owns 1,488,500 shares of the company’s stock valued at $24,337,000 after acquiring an additional 426,100 shares during the period. Two Sigma Investments LP raised its stake in shares of Upwork by 49.2% in the fourth quarter. Two Sigma Investments LP now owns 2,436,680 shares of the company’s stock valued at $39,840,000 after acquiring an additional 803,929 shares during the period. Finally, Tidal Investments LLC bought a new stake in shares of Upwork in the 4th quarter worth about $669,000. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on UPWK shares. Jefferies Financial Group upped their price target on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. BTIG Research upped their target price on shares of Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC increased 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. UBS Group boosted their price objective on Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada increased their target price on Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.91.

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.