Upwork Inc. (NASDAQ:UPWK) Director Sells $1,318,500.00 in Stock

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

Upwork Price Performance

NASDAQ UPWK opened at $15.63 on Friday. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14. The stock’s 50-day moving average is $16.30 and its two-hundred day moving average is $13.64. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. The firm has a market cap of $2.12 billion, a P/E ratio of 10.22 and a beta of 1.57.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, topping 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 fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on UPWK shares. Roth Mkm reduced their price objective on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. BTIG Research lifted their price objective on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. 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 report on Thursday, November 7th. Canaccord Genuity Group lifted their price objective on Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group lifted their price objective on Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.91.

Hedge Funds Weigh In On Upwork

Institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC bought a new position in shares of Upwork in the third quarter worth about $858,000. Victory Capital Management Inc. increased its stake in shares of Upwork by 133.5% in the third quarter. Victory Capital Management Inc. now owns 116,899 shares of the company’s stock worth $1,222,000 after purchasing an additional 66,842 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Upwork by 40.9% in the third quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company’s stock worth $2,630,000 after purchasing an additional 73,104 shares during the period. Verition Fund Management LLC bought a new position in shares of Upwork in the third quarter worth about $8,369,000. Finally, Point72 Asset Management L.P. boosted its holdings in Upwork by 2,216.8% during the third quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company’s stock valued at $5,263,000 after purchasing an additional 481,942 shares in the last quarter. 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.