Hayden Brown Sells 60,000 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $14.20, for a total value of $852,000.00. Following the transaction, the chief executive officer now owns 1,215,083 shares of the company’s stock, valued at approximately $17,254,178.60. This trade represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hayden Brown also recently made the following trade(s):

• On Tuesday, February 18th, Hayden Brown sold 21,122 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total value of $341,120.30.
• On Wednesday, December 18th, Hayden Brown sold 8,997 shares of Upwork stock. The shares were sold at an average price of $17.12, for a total value of $154,028.64.
• On Monday, December 16th, Hayden Brown sold 20,000 shares of Upwork stock. The stock was sold at an average price of $16.84, for a total value of $336,800.00.

Upwork Stock Performance

NASDAQ UPWK opened at $13.39 on Wednesday. The company has a market cap of $1.81 billion, a P/E ratio of 8.75 and a beta of 1.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The business’s 50 day moving average price is $15.91 and its 200-day moving average price is $14.11. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14.

Upwork (NASDAQ:UPWK) last released its earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. Sell-side analysts predict that Upwork Inc. will post 0.84 earnings per share for the current year.

Hedge Funds Weigh In On Upwork

Several hedge funds have recently bought and sold shares of the business. KBC Group NV grew its position in Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after acquiring an additional 1,497 shares during the last quarter. Quarry LP grew its position in Upwork by 42.6% in the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after acquiring an additional 1,851 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in shares of Upwork by 18.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company’s stock worth $143,000 after buying an additional 2,129 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Upwork by 3.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 67,716 shares of the company’s stock worth $1,107,000 after buying an additional 2,148 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Upwork by 1.4% during the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock worth $2,914,000 after buying an additional 2,387 shares in the last quarter. Institutional investors own 77.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Jefferies Financial Group boosted their price target on Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, January 6th. JMP Securities reissued a “market outperform” rating and issued a $18.00 price target on shares of Upwork in a report on Thursday, January 30th. Needham & Company LLC boosted their price target on Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Roth Mkm decreased 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. Finally, UBS Group upped their price objective on Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.91.

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.