Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms Sells 5,360 Shares

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 5,360 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total transaction of $91,709.60. Following the completion of the transaction, the vice president now owns 9,642 shares of the company’s stock, valued at approximately $164,974.62. The trade was a 35.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, November 18th, Dave Bottoms sold 1,396 shares of Upwork stock. The stock was sold at an average price of $15.13, for a total transaction of $21,121.48.
• On Friday, November 15th, Dave Bottoms sold 983 shares of Upwork stock. The stock was 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.

Upwork Stock Performance

Upwork stock traded up $0.20 during trading on Friday, reaching $16.44. The company had a trading volume of 3,093,067 shares, compared to its average volume of 2,170,488. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 26.10 and a beta of 1.58. The firm’s 50-day simple moving average is $14.77 and its 200 day simple moving average is $11.95.

Upwork (NASDAQ:UPWK) last issued 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. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The business had revenue of $193.78 million during the quarter, compared to analyst estimates of $185.55 million. During the same quarter in the prior year, the business posted $0.12 EPS. Upwork’s revenue for the quarter was up 10.3% compared to the same quarter last year. Sell-side analysts forecast that Upwork Inc. will post 0.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UPWK has been the subject of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. BTIG Research boosted their target price on shares of Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. UBS Group boosted their target price on shares of Upwork from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Roth Mkm boosted their target price on shares of Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group boosted their target price on shares of Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three investment 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.36.

Institutional Investors Weigh In On Upwork

Institutional investors have recently bought and sold shares of the business. Plato Investment Management Ltd purchased a new position in shares of Upwork during the second quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Upwork during the second quarter valued at about $29,000. Quarry LP grew its position in shares of 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 in the last quarter. KBC Group NV grew its position in shares of Upwork by 45.4% during 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 purchased a new position in shares of Upwork during the second quarter valued at about $54,000. Hedge funds and other institutional investors 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.