Dave Bottoms Sells 1,396 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 1,396 shares of Upwork stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $15.13, for a total transaction of $21,121.48. Following the completion of the sale, the vice president now directly owns 2,354 shares in the company, valued at approximately $35,616.02. This represents a 37.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• 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 shares were sold at an average price of $15.86, for a total value 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 value 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 value of $57,074.58.

Upwork Price Performance

UPWK stock opened at $16.02 on Friday. 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’s 50-day moving average price is $12.18 and its two-hundred day moving average price is $11.21. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 25.43 and a beta of 1.49. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $17.79.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The business had revenue of $193.78 million for the quarter, compared to the consensus estimate of $185.55 million. During the same period in the previous year, the firm earned $0.12 EPS. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities analysts predict that Upwork Inc. will post 0.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on UPWK shares. The Goldman Sachs Group lifted their target price on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada decreased their price target on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Piper Sandler reissued an “overweight” rating and set a $18.00 price objective (up previously from $13.00) on shares of Upwork in a research note on Thursday, November 7th. UBS Group decreased their target price on Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, BTIG Research lifted their target price on shares of Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research report 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, Upwork currently has an average rating of “Moderate Buy” and an average target price of $17.00.

Institutional Investors Weigh In On Upwork

Several hedge funds have recently made changes to their positions in the company. Plato Investment Management Ltd purchased a new stake in shares of Upwork in the 2nd quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Upwork during the second quarter valued at approximately $29,000. Quarry LP boosted its position in shares of Upwork by 104.2% in the 2nd quarter. Quarry LP now owns 4,350 shares of the company’s stock worth $47,000 after purchasing an additional 2,220 shares in the last quarter. KBC Group NV grew its stake in shares of Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after buying an additional 1,497 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Upwork during the 2nd quarter valued at approximately $54,000. 77.71% of the stock is currently owned by institutional investors.

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.