Dave Bottoms Sells 5,411 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 5,411 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total transaction of $70,721.77. Following the transaction, the insider now owns 9,593 shares in the company, valued at approximately $125,380.51. The trade was a 36.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, February 18th, Dave Bottoms sold 1,543 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total value of $24,919.45.

Upwork Stock Performance

UPWK opened at $13.57 on Friday. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. The company has a market capitalization of $1.84 billion, a PE ratio of 8.87 and a beta of 1.61. The business has a fifty day simple moving average of $15.39 and a 200 day simple moving average of $14.27.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. Research analysts expect that Upwork Inc. will post 0.84 EPS for the current year.

Institutional Investors Weigh In On Upwork

Several institutional investors and hedge funds have recently added to or reduced their stakes in UPWK. KBC Group NV lifted its holdings in shares of Upwork by 45.4% in the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after acquiring an additional 1,497 shares during the last quarter. Quarry LP lifted its stake 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 purchasing an additional 1,851 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in Upwork by 18.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company’s stock valued at $143,000 after purchasing an additional 2,129 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Upwork by 3.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 67,716 shares of the company’s stock valued at $1,107,000 after acquiring an additional 2,148 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Upwork by 1.4% in the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock valued at $2,914,000 after acquiring an additional 2,387 shares during the last quarter. 77.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on UPWK shares. JMP Securities restated a “market outperform” rating and issued a $18.00 price target on shares of Upwork in a research note on Thursday, January 30th. Citigroup increased their target price on shares of Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. UBS Group raised their price objective on shares of Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Roth Mkm decreased their price target on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Scotiabank started coverage on Upwork in a report on Wednesday, March 12th. They issued a “sector perform” rating and a $15.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Upwork has a consensus rating of “Moderate Buy” and an average price target of $18.58.

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.