Upwork Inc. (NASDAQ:UPWK) VP Sells $166,656.88 in Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 10,508 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.86, for a total transaction of $166,656.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, September 18th, Dave Bottoms sold 5,626 shares of Upwork stock. The shares were sold at an average price of $10.57, for a total value of $59,466.82.
• On Tuesday, August 27th, Dave Bottoms sold 5,818 shares of Upwork stock. The stock was sold at an average price of $9.81, for a total value of $57,074.58.
• On Monday, August 19th, Dave Bottoms sold 1,433 shares of Upwork stock. The shares were sold at an average price of $9.65, for a total transaction of $13,828.45.

Upwork Price Performance

UPWK stock traded down $0.01 during trading on Wednesday, reaching $15.72. 2,258,326 shares of the company were exchanged, compared to its average volume of 2,178,651. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.18 and a current ratio of 3.18. The stock’s 50 day moving average price is $11.50 and its 200 day moving average price is $11.08. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $17.79. The company has a market cap of $2.10 billion, a P/E ratio of 24.95 and a beta of 1.49.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $193.78 million during the quarter, compared to the consensus estimate of $185.55 million. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 earnings per share. As a group, analysts predict that Upwork Inc. will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Upwork

Institutional investors have recently added to or reduced their stakes in the company. Plato Investment Management Ltd acquired a new position in shares of Upwork during the 2nd quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Upwork during the 2nd quarter worth $29,000. Quarry LP lifted its stake in shares of Upwork by 104.2% in the second quarter. Quarry LP now owns 4,350 shares of the company’s stock worth $47,000 after acquiring an additional 2,220 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Upwork during the 1st quarter valued at approximately $49,000. Finally, KBC Group NV boosted its stake in shares of Upwork by 45.4% during 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 during the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Analyst Ratings Changes

UPWK has been the subject of several recent analyst reports. JMP Securities lifted their price target on Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their target price on Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada dropped their price target on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Roth Mkm boosted their price target on shares of Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group decreased their price objective on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Three 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 currently has an average rating of “Moderate Buy” and an average price target of $17.00.

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.