Upwork Inc. (NASDAQ:UPWK) VP Sells $166,656.88 in Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 10,508 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.86, for a total transaction of $166,656.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Dave Bottoms also recently made the following trade(s):

• On Wednesday, September 18th, Dave Bottoms sold 5,626 shares of Upwork stock. The shares were sold at an average price of $10.57, for a total transaction of $59,466.82.
• On Tuesday, August 27th, Dave Bottoms sold 5,818 shares of Upwork stock. The stock was sold at an average price of $9.81, for a total value of $57,074.58.
• On Monday, August 19th, Dave Bottoms sold 1,433 shares of Upwork stock. The shares were sold at an average price of $9.65, for a total value of $13,828.45.

Upwork Stock Performance

Shares of NASDAQ UPWK traded down $0.01 during mid-day trading on Wednesday, reaching $15.72. 2,258,326 shares of the company’s stock were exchanged, compared to its average volume of 2,178,651. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $17.79. The firm has a 50-day moving average price of $11.50 and a two-hundred day moving average price of $11.08. 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 firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 24.95 and a beta of 1.49.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The company had revenue of $193.78 million for the quarter, compared to the consensus estimate of $185.55 million. During the same quarter in the prior year, the business posted $0.12 EPS. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. Analysts predict that Upwork Inc. will post 0.51 EPS for the current year.

Institutional Investors Weigh In On Upwork

Large investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd purchased a new position in Upwork during the 2nd quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Upwork in the second quarter valued at $29,000. Quarry LP grew its holdings in Upwork by 104.2% during the 2nd quarter. Quarry LP now owns 4,350 shares of the company’s stock worth $47,000 after acquiring an additional 2,220 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Upwork during the 1st quarter worth $49,000. Finally, KBC Group NV raised its stake in Upwork by 45.4% during 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. 77.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on UPWK. Canaccord Genuity Group lifted their price objective on shares of Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JMP Securities upped their target price on Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. UBS Group decreased their price target on Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. BTIG Research lifted their price objective on Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 target price (up from $13.00) on shares of Upwork in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Upwork presently has an average rating of “Moderate Buy” and an average price target of $17.00.

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.