Upwork Inc. (NASDAQ:UPWK) VP Sells $14,686.02 in Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 983 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $14.94, for a total value of $14,686.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, November 18th, Dave Bottoms sold 1,396 shares of Upwork stock. The shares were sold at an average price of $15.13, for a total value of $21,121.48.
• 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 shares were sold at an average price of $10.57, for a total transaction of $59,466.82.
• On Tuesday, August 27th, Dave Bottoms sold 5,818 shares of Upwork stock. The stock was sold at an average price of $9.81, for a total transaction of $57,074.58.

Upwork Trading Up 2.3 %

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

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

Institutional Investors Weigh In On Upwork

Large investors have recently bought and sold shares of the stock. KBC Group NV boosted its stake in shares of 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 last quarter. ProShare Advisors LLC boosted its position in Upwork by 8.6% during the first quarter. ProShare Advisors LLC now owns 22,483 shares of the company’s stock worth $276,000 after acquiring an additional 1,771 shares during the last quarter. Quarry LP grew its stake in Upwork by 42.6% in the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after acquiring an additional 1,851 shares during the period. Federated Hermes Inc. raised its holdings in Upwork by 0.6% in the 2nd quarter. Federated Hermes Inc. now owns 318,659 shares of the company’s stock valued at $3,426,000 after acquiring an additional 1,996 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Upwork by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,809 shares of the company’s stock valued at $718,000 after acquiring an additional 2,063 shares during the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada decreased their target price on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. UBS Group lowered their price objective on Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. BTIG Research increased their target price on Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JMP Securities lifted their price target on Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Finally, Citigroup cut their price objective on Upwork from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

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.