Upwork Inc. (NASDAQ:UPWK) VP Sells $37,584.46 in Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 2,843 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $13.22, for a total value of $37,584.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Upwork Price Performance

Shares of NASDAQ:UPWK opened at $12.10 on Friday. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 34.57 and a beta of 1.66. The business has a 50 day moving average price of $12.12 and a 200 day moving average price of $13.21. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 1.02. Upwork Inc. has a twelve month low of $7.54 and a twelve month high of $16.36.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. Upwork had a return on equity of 13.96% and a net margin of 6.70%. The company had revenue of $183.93 million during the quarter, compared to analysts’ expectations of $178.43 million. Research analysts predict that Upwork Inc. will post 0.42 earnings per share for the current year.

Institutional Trading of Upwork

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Upwork by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 15,226,218 shares of the company’s stock valued at $226,414,000 after buying an additional 660,966 shares during the period. Financial Gravity Asset Management Inc. grew its holdings in shares of Upwork by 2,216.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 3,893,556 shares of the company’s stock worth $44,231,000 after purchasing an additional 3,725,442 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Upwork by 239.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock valued at $33,491,000 after purchasing an additional 1,589,693 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Upwork in the third quarter valued at $16,987,000. Finally, Mak Capital One LLC bought a new position in Upwork in the third quarter worth $15,528,000. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

UPWK has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on Upwork from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Royal Bank of Canada cut their price target on shares of Upwork from $18.00 to $15.00 and set a “sector perform” rating on the stock in a report on Thursday, May 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Upwork in a report on Thursday, May 2nd. JMP Securities increased their target price on shares of Upwork from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 15th. Finally, BTIG Research raised Upwork from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.30.

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.