Insider Selling: Upwork Inc. (NASDAQ:UPWK) CFO Sells $197,446.32 in Stock

Upwork Inc. (NASDAQ:UPWKGet Rating) CFO Jeff Mccombs sold 16,372 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $12.06, for a total value of $197,446.32. Following the completion of the sale, the chief financial officer now directly owns 97,264 shares of the company’s stock, valued at approximately $1,173,003.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Jeff Mccombs also recently made the following trade(s):

  • On Thursday, September 29th, Jeff Mccombs sold 71,753 shares of Upwork stock. The stock was sold at an average price of $13.82, for a total value of $991,626.46.

Upwork Stock Performance

Upwork stock opened at $11.97 on Friday. The company has a debt-to-equity ratio of 2.32, a current ratio of 3.69 and a quick ratio of 3.69. The stock has a fifty day moving average of $13.43 and a two-hundred day moving average of $17.22. Upwork Inc. has a fifty-two week low of $11.29 and a fifty-two week high of $39.42.

Analyst Ratings Changes

UPWK has been the subject of a number of analyst reports. Canaccord Genuity Group decreased their price target on Upwork from $36.00 to $25.00 in a report on Friday, October 28th. The Goldman Sachs Group lowered their price objective on Upwork from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, October 27th. BTIG Research lowered their price objective on Upwork from $30.00 to $24.00 in a research note on Friday, September 23rd. Royal Bank of Canada decreased their price target on Upwork from $21.00 to $15.00 in a research note on Thursday, October 27th. Finally, JMP Securities decreased their price target on Upwork from $33.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 27th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.08.

Institutional Investors Weigh In On Upwork

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Daiwa Securities Group Inc. grew its position in shares of Upwork by 112.8% during the first quarter. Daiwa Securities Group Inc. now owns 5,535 shares of the company’s stock worth $129,000 after buying an additional 2,934 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Upwork by 43.7% in the first quarter. SG Americas Securities LLC now owns 99,385 shares of the company’s stock worth $2,310,000 after purchasing an additional 30,247 shares during the period. State of New Jersey Common Pension Fund D increased its stake in Upwork by 48.5% during the first quarter. State of New Jersey Common Pension Fund D now owns 104,343 shares of the company’s stock valued at $2,425,000 after purchasing an additional 34,096 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Upwork by 4.7% during the first quarter. Teacher Retirement System of Texas now owns 23,166 shares of the company’s stock worth $538,000 after purchasing an additional 1,041 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Upwork by 8.0% during the first quarter. Swiss National Bank now owns 272,900 shares of the company’s stock worth $6,342,000 after purchasing an additional 20,100 shares during the period. Hedge funds and other institutional investors own 75.60% of the company’s stock.

About Upwork

(Get Rating)

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 sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.

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Insider Buying and Selling by Quarter for Upwork (NASDAQ:UPWK)

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