Dave Bottoms Sells 1,396 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 1,396 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $15.13, for a total transaction of $21,121.48. Following the completion of the transaction, the vice president now owns 2,354 shares of the company’s stock, valued at approximately $35,616.02. This represents a 37.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, November 15th, Dave Bottoms sold 983 shares of Upwork stock. The shares were sold at an average price of $14.94, for a total transaction of $14,686.02.
• On Friday, November 8th, Dave Bottoms sold 10,508 shares of Upwork stock. The stock was sold at an average price of $15.86, for a total transaction of $166,656.88.
• On Wednesday, September 18th, Dave Bottoms sold 5,626 shares of Upwork stock. The stock was 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 shares were sold at an average price of $9.81, for a total value of $57,074.58.

Upwork Trading Up 2.3 %

UPWK opened at $15.73 on Friday. The firm has a 50 day simple moving average of $12.06 and a 200 day simple moving average of $11.18. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $17.79. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 24.41 and a beta of 1.49. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.18 and a quick ratio of 3.18.

Upwork (NASDAQ:UPWK) last released its 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 firm had revenue of $193.78 million during the quarter, compared to analyst estimates of $185.55 million. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 EPS. On average, sell-side analysts anticipate that Upwork Inc. will post 0.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on UPWK shares. BTIG Research lifted their price objective on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JMP Securities increased their target price on shares of Upwork from $14.00 to $18.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. UBS Group reduced their price target on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group raised their price objective on shares of Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $18.00 target price (up from $13.00) on shares of Upwork in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Upwork has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Hedge Funds Weigh In On Upwork

Hedge funds have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd acquired a new position in shares of Upwork during the 2nd quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Upwork during the 2nd quarter worth approximately $29,000. Quarry LP grew its holdings in Upwork by 104.2% during the second quarter. Quarry LP now owns 4,350 shares of the company’s stock valued at $47,000 after purchasing an additional 2,220 shares during the period. KBC Group NV increased its stake in Upwork by 45.4% in the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after purchasing an additional 1,497 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Upwork in the second quarter worth $54,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

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.