Upwork Inc. (NASDAQ:UPWK) Insider Sells $70,721.77 in Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 5,411 shares of Upwork stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $70,721.77. Following the transaction, the insider now directly owns 9,593 shares of the company’s stock, valued at approximately $125,380.51. This trade represents a 36.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, February 18th, Dave Bottoms sold 1,543 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total transaction of $24,919.45.

Upwork Stock Up 0.2 %

NASDAQ UPWK traded up $0.03 during trading on Thursday, reaching $13.45. 1,381,989 shares of the company’s stock traded hands, compared to its average volume of 2,210,246. 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 $1.82 billion, a price-to-earnings ratio of 8.79 and a beta of 1.61. The company’s 50 day simple moving average is $15.43 and its two-hundred day simple moving average is $14.24. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share (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%. As a group, sell-side analysts forecast that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Institutional Trading of Upwork

A number of institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in Upwork by 51.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock valued at $253,405,000 after acquiring an additional 5,289,493 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in Upwork by 86.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company’s stock valued at $54,005,000 after acquiring an additional 1,534,078 shares during the period. Dorsey Asset Management LLC lifted its stake in Upwork by 15.0% during the 4th quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company’s stock valued at $49,788,000 after acquiring an additional 397,997 shares during the period. Two Sigma Investments LP lifted its stake in Upwork by 49.2% during the 4th 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, Invenomic Capital Management LP lifted its stake in Upwork by 12.5% during the 3rd quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company’s stock valued at $24,397,000 after acquiring an additional 260,274 shares during the period. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada upped their price target on shares of Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Needham & Company LLC upped their price target on shares of Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Roth Mkm dropped their price target on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Citigroup upped 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. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.58.

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.