Insider Selling: Upwork Inc. (NASDAQ:UPWK) CFO Sells $73,213.69 in Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 4,279 shares of Upwork stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total value of $73,213.69. Following the completion of the transaction, the chief financial officer now owns 133,093 shares of the company’s stock, valued at approximately $2,277,221.23. The trade was a 3.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, November 18th, Erica Gessert sold 19,816 shares of Upwork stock. The stock was sold at an average price of $15.13, for a total value of $299,816.08.

Upwork Stock Up 1.2 %

Shares of Upwork stock opened at $16.44 on Monday. The business’s fifty day moving average price is $14.89 and its two-hundred day moving average price is $12.01. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.18 and a quick ratio of 3.18. The company has a market capitalization of $2.20 billion, a P/E ratio of 26.10 and a beta of 1.58. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14.

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

Institutional Trading of Upwork

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Divisadero Street Capital Management LP raised its stake in shares of Upwork by 32.9% in the 2nd quarter. Divisadero Street Capital Management LP now owns 3,320,912 shares of the company’s stock worth $35,700,000 after buying an additional 822,518 shares in the last quarter. Invenomic Capital Management LP raised its stake in shares of Upwork by 12.5% in the 3rd quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company’s stock worth $24,397,000 after buying an additional 260,274 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Upwork by 27.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,806,969 shares of the company’s stock worth $19,424,000 after buying an additional 389,006 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Upwork by 71.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,635,602 shares of the company’s stock worth $17,572,000 after buying an additional 679,028 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Upwork by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,011,508 shares of the company’s stock worth $10,570,000 after buying an additional 14,680 shares in the last quarter. Institutional investors own 77.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. UBS Group lifted their target price on Upwork from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Citigroup boosted their price objective on Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. The Goldman Sachs Group boosted their price objective on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Piper Sandler restated 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. Finally, JMP Securities boosted their price objective on Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Upwork presently has an average rating of “Moderate Buy” and a consensus price target of $18.36.

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.