Elizabeth A. Nelson Sells 75,000 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) Director Elizabeth A. Nelson sold 75,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $17.58, for a total value of $1,318,500.00. Following the transaction, the director now directly owns 16,299 shares in the company, valued at $286,536.42. This trade represents a 82.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Upwork Price Performance

UPWK stock opened at $15.63 on Friday. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $2.12 billion, a PE ratio of 10.22 and a beta of 1.57. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14. The business’s fifty day moving average price is $16.30 and its 200 day moving average price is $13.66.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. On average, sell-side analysts anticipate that Upwork Inc. will post 0.84 EPS for the current year.

Institutional Investors Weigh In On Upwork

Several large investors have recently bought and sold shares of UPWK. KBC Group NV increased its holdings in Upwork by 45.4% during the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after purchasing an additional 1,497 shares during the period. CWM LLC increased its holdings in Upwork by 71.9% during the 3rd quarter. CWM LLC now owns 5,896 shares of the company’s stock worth $62,000 after purchasing an additional 2,467 shares during the period. Quarry LP increased its holdings in Upwork by 42.6% during the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after purchasing an additional 1,851 shares during the period. Nkcfo LLC purchased a new stake in Upwork during the 4th quarter worth about $82,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Upwork during the 4th quarter worth about $84,000. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. BTIG Research upped their price target on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. UBS Group upped their price target on Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price target (up previously from $13.00) on shares of Upwork in a research note on Thursday, November 7th. Citigroup upped their price target on Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Finally, The Goldman Sachs Group upped their price target on Upwork from $21.00 to $24.00 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 stock. According to MarketBeat.com, Upwork currently has an average rating of “Moderate Buy” and a consensus target price of $18.91.

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.