Insider Selling: Upwork Inc. (NASDAQ:UPWK) CFO Sells 16,372 Shares of Stock

Upwork Inc. (NASDAQ:UPWKGet Rating) CFO Jeff Mccombs sold 16,372 shares of the stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $12.06, for a total transaction of $197,446.32. Following the completion of the sale, the chief financial officer now directly owns 97,264 shares in the company, valued at approximately $1,173,003.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Jeff Mccombs also recently made the following trade(s):

  • On Thursday, September 29th, Jeff Mccombs sold 71,753 shares of Upwork stock. The stock was sold at an average price of $13.82, for a total transaction of $991,626.46.

Upwork Stock Performance

Upwork stock opened at $11.97 on Friday. The company has a debt-to-equity ratio of 2.32, a current ratio of 3.69 and a quick ratio of 3.69. The company’s 50-day moving average price is $13.43 and its two-hundred day moving average price is $17.22. Upwork Inc. has a 52 week low of $11.29 and a 52 week high of $39.42.

Hedge Funds Weigh In On Upwork

Several large investors have recently bought and sold shares of the stock. Alpha Square Group S LLC increased its stake in Upwork by 18.6% during the 3rd quarter. Alpha Square Group S LLC now owns 255,000 shares of the company’s stock valued at $3,473,000 after buying an additional 40,000 shares during the period. Wealthsource Partners LLC bought a new position in shares of Upwork during the 3rd quarter valued at about $301,000. Algert Global LLC boosted its position in shares of Upwork by 418.3% during the 3rd quarter. Algert Global LLC now owns 94,802 shares of the company’s stock valued at $1,291,000 after purchasing an additional 76,512 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Upwork by 5.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 443,400 shares of the company’s stock valued at $6,040,000 after purchasing an additional 22,644 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Upwork by 11.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,184,600 shares of the company’s stock valued at $16,134,000 after purchasing an additional 126,100 shares in the last quarter. Institutional investors and hedge funds own 75.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of Upwork from $36.00 to $25.00 in a report on Friday, October 28th. Royal Bank of Canada dropped their price objective on shares of Upwork from $21.00 to $15.00 in a report on Thursday, October 27th. Piper Sandler dropped their price objective on shares of Upwork from $30.00 to $20.00 in a report on Wednesday, October 26th. The Goldman Sachs Group dropped their price objective on shares of Upwork from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, October 27th. Finally, Needham & Company LLC dropped their price objective on shares of Upwork from $27.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, October 27th. Two research analysts have rated the stock with a hold rating and eight have given 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 price target of $25.08.

Upwork Company Profile

(Get Rating)

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 sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.

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Insider Buying and Selling by Quarter for Upwork (NASDAQ:UPWK)

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