Insider Selling: Upwork Inc. (NASDAQ:UPWK) CEO Sells $341,120.30 in Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 21,122 shares of Upwork stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total transaction of $341,120.30. Following the sale, the chief executive officer now directly owns 1,275,083 shares of the company’s stock, valued at $20,592,590.45. This represents a 1.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, December 18th, Hayden Brown sold 8,997 shares of Upwork stock. The stock was sold at an average price of $17.12, for a total value of $154,028.64.
• On Monday, December 16th, Hayden Brown sold 20,000 shares of Upwork stock. The shares were sold at an average price of $16.84, for a total value of $336,800.00.
• On Wednesday, November 27th, Hayden Brown sold 15,000 shares of Upwork stock. The shares were sold at an average price of $17.00, for a total value of $255,000.00.

Upwork Price Performance

NASDAQ:UPWK opened at $15.63 on Friday. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 10.22 and a beta of 1.57. The stock’s 50 day moving average price is $16.30 and its two-hundred day moving average price is $13.66. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada increased their target price on Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $18.00 price target on shares of Upwork in a research note on Thursday, January 30th. Roth Mkm reduced their price objective on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. The Goldman Sachs Group raised their price objective on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group upped their target price on Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.91.

Institutional Trading of Upwork

A number of hedge funds have recently modified their holdings of the stock. KBC Group NV grew its stake in Upwork by 45.4% in 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. Nkcfo LLC bought a new stake in shares of Upwork during the fourth quarter worth approximately $82,000. SBI Securities Co. Ltd. acquired a new position in shares of Upwork in the fourth quarter valued at approximately $84,000. CWM LLC increased its stake in shares of Upwork by 71.9% during the third 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. Finally, Financial Management Professionals Inc. bought a new position in shares of Upwork during the fourth quarter worth approximately $97,000. 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.