Erica Gessert Sells 4,316 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 4,316 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total transaction of $56,410.12. Following the sale, the chief financial officer now directly owns 160,945 shares in the company, valued at $2,103,551.15. This represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Erica Gessert also recently made the following trade(s):

• On Tuesday, February 18th, Erica Gessert sold 13,765 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total value of $222,304.75.

Upwork Trading Up 0.9 %

NASDAQ:UPWK opened at $13.57 on Friday. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 8.87 and a beta of 1.61. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14. The business’s 50-day moving average price is $15.39 and its two-hundred day moving average price is $14.30. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on UPWK. Royal Bank of Canada raised their target price on Upwork from $16.00 to $18.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. JMP Securities restated a “market outperform” rating and issued a $18.00 price objective on shares of Upwork in a research report on Thursday, January 30th. Citigroup upped their target price on shares of Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Needham & Company LLC raised their price target on shares of Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Roth Mkm reduced their price objective on Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and eight have given 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 a consensus target price of $18.58.

Hedge Funds Weigh In On Upwork

Several institutional investors and hedge funds have recently made changes to their positions in UPWK. Price T Rowe Associates Inc. MD lifted its holdings in Upwork by 51.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock worth $253,405,000 after acquiring an additional 5,289,493 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Upwork by 86.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company’s stock worth $54,005,000 after purchasing an additional 1,534,078 shares during the period. Dorsey Asset Management LLC lifted its holdings in shares of Upwork by 15.0% during the 4th quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company’s stock valued at $49,788,000 after purchasing an additional 397,997 shares in the last quarter. Two Sigma Investments LP grew its position in shares of Upwork by 49.2% in the 4th quarter. Two Sigma Investments LP now owns 2,436,680 shares of the company’s stock valued at $39,840,000 after purchasing an additional 803,929 shares during the period. Finally, Invenomic Capital Management LP increased its stake in Upwork by 12.5% during the 3rd quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company’s stock worth $24,397,000 after purchasing an additional 260,274 shares in the last quarter. 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.