Hayden Brown Sells 10,000 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 10,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.85, for a total value of $158,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,168,850 shares of the company’s stock, valued at approximately $18,526,272.50. The trade was a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hayden Brown also recently made the following trade(s):

• On Wednesday, September 18th, Hayden Brown sold 9,444 shares of Upwork stock. The stock was sold at an average price of $10.57, for a total value of $99,823.08.
• On Monday, September 16th, Hayden Brown sold 20,000 shares of Upwork stock. The stock was sold at an average price of $10.01, for a total value of $200,200.00.
• On Monday, August 19th, Hayden Brown sold 31,506 shares of Upwork stock. The shares were sold at an average price of $9.65, for a total value of $304,032.90.

Upwork Trading Down 3.9 %

NASDAQ:UPWK opened at $15.10 on Friday. The firm has a market cap of $2.02 billion, a PE ratio of 23.97 and a beta of 1.49. The stock has a fifty day moving average price of $11.60 and a 200 day moving average price of $11.11. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $17.79. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $193.78 million during the quarter, compared to the consensus estimate of $185.55 million. Upwork had a return on equity of 22.84% and a net margin of 11.26%. Upwork’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.12 EPS. Sell-side analysts anticipate that Upwork Inc. will post 0.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on UPWK. Piper Sandler reissued an “overweight” rating and issued a $18.00 price objective (up from $13.00) on shares of Upwork in a report on Thursday, November 7th. BTIG Research upped their target price on Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Citigroup lowered their target price on Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. UBS Group lowered their target price on Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, JMP Securities increased their price target on Upwork from $14.00 to $18.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Upwork presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Institutional Trading of Upwork

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP boosted its holdings in Upwork by 32.4% in the 1st quarter. Quantbot Technologies LP now owns 38,070 shares of the company’s stock valued at $467,000 after purchasing an additional 9,324 shares in the last quarter. Swiss National Bank lifted its stake in Upwork by 1.1% in the 1st quarter. Swiss National Bank now owns 241,900 shares of the company’s stock valued at $2,966,000 after buying an additional 2,600 shares in the last quarter. Headlands Technologies LLC acquired a new position in Upwork in the 1st quarter valued at $49,000. Russell Investments Group Ltd. raised its holdings in Upwork by 28.4% in the 1st quarter. Russell Investments Group Ltd. now owns 68,531 shares of the company’s stock valued at $840,000 after acquiring an additional 15,146 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Upwork by 8.6% during the 1st quarter. ProShare Advisors LLC now owns 22,483 shares of the company’s stock worth $276,000 after buying an additional 1,771 shares during the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

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.