Upwork Inc. (NASDAQ:UPWK) CEO Sells $852,000.00 in Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 60,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $14.20, for a total value of $852,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,215,083 shares of the company’s stock, valued at approximately $17,254,178.60. This trade represents a 4.71 % 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 Tuesday, February 18th, Hayden Brown sold 21,122 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total value 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 shares were sold at an average price of $16.84, for a total value of $336,800.00.

Upwork Price Performance

NASDAQ UPWK traded down $0.15 during trading hours on Tuesday, reaching $13.39. The company’s stock had a trading volume of 3,111,808 shares, compared to its average volume of 2,589,448. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 8.75 and a beta of 1.61. The firm’s 50-day moving average price is $15.91 and its 200-day moving average price is $14.11.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 EPS 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%. On average, equities research analysts predict that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on UPWK shares. JMP Securities reissued a “market outperform” rating and set a $18.00 price objective on shares of Upwork in a research report on Thursday, January 30th. Jefferies Financial Group increased their price target on shares of Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, January 6th. Roth Mkm decreased their price objective on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Royal Bank of Canada increased their target price on Upwork from $16.00 to $18.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC boosted 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.91.

Hedge Funds Weigh In On Upwork

A number of hedge funds and other institutional investors have recently modified their holdings of UPWK. KBC Group NV boosted its holdings in shares of 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 buying an additional 1,497 shares in the last quarter. Quarry LP boosted its stake in Upwork by 42.6% in the third quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after acquiring an additional 1,851 shares in the last quarter. Nkcfo LLC purchased a new position in Upwork in the fourth quarter worth $82,000. SBI Securities Co. Ltd. purchased a new stake in shares of Upwork during the 4th quarter valued at $84,000. Finally, Financial Management Professionals Inc. purchased a new position in Upwork during the 4th quarter worth $97,000. 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.