Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms Sells 2,843 Shares

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 2,843 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $13.22, for a total transaction of $37,584.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Upwork Trading Up 1.5 %

UPWK stock opened at $12.10 on Friday. The business’s 50-day moving average is $12.12 and its 200 day moving average is $13.21. Upwork Inc. has a 12-month low of $7.54 and a 12-month high of $16.36. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 34.57 and a beta of 1.66. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 1.02.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.13 EPS 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 firm had revenue of $183.93 million during the quarter, compared to the consensus estimate of $178.43 million. On average, sell-side analysts anticipate that Upwork Inc. will post 0.42 EPS for the current fiscal year.

Institutional Trading of Upwork

A number of hedge funds have recently bought and sold shares of UPWK. Quadrant Capital Group LLC grew its position in shares of Upwork by 67.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock valued at $30,000 after purchasing an additional 803 shares in the last quarter. Essex Investment Management Co. LLC grew its holdings in Upwork by 56.2% in the 1st quarter. Essex Investment Management Co. LLC now owns 4,724 shares of the company’s stock valued at $58,000 after buying an additional 1,700 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Upwork by 8.6% in the 1st quarter. ProShare Advisors LLC now owns 22,483 shares of the company’s stock worth $276,000 after acquiring an additional 1,771 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Upwork during the 4th quarter worth $33,000. Finally, Principal Financial Group Inc. boosted its position in shares of Upwork by 17.1% during the 1st quarter. Principal Financial Group Inc. now owns 16,823 shares of the company’s stock valued at $206,000 after acquiring an additional 2,457 shares during the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Analyst Upgrades and Downgrades

UPWK has been the topic of several analyst reports. UBS Group increased their price target on Upwork from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. The Goldman Sachs Group lifted their price target on Upwork from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. BTIG Research upgraded Upwork from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Thursday, May 2nd. JMP Securities lifted their target price on shares of Upwork from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Thursday, February 15th. Finally, Royal Bank of Canada decreased their target price on shares of Upwork from $18.00 to $15.00 and set a “sector perform” rating for the company in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.30.

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.