Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown Sells 20,000 Shares

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 20,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $17.09, for a total value of $341,800.00. Following the completion of the transaction, the chief executive officer now owns 1,163,741 shares in the company, valued at $19,888,333.69. This represents a 1.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hayden Brown also recently made the following trade(s):

• On Wednesday, May 7th, Hayden Brown sold 40,000 shares of Upwork stock. The shares were sold at an average price of $15.92, for a total transaction of $636,800.00.
• On Tuesday, March 18th, Hayden Brown sold 9,075 shares of Upwork stock. The stock was sold at an average price of $13.07, for a total transaction of $118,610.25.
• On Friday, March 7th, Hayden Brown sold 60,000 shares of Upwork stock. The shares were sold at an average price of $14.20, for a total transaction of $852,000.00.
• On Tuesday, February 18th, Hayden Brown sold 21,122 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total transaction of $341,120.30.

Upwork Stock Down 1.7%

Shares of UPWK stock opened at $17.09 on Friday. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $18.14. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The firm has a market cap of $2.25 billion, a PE ratio of 11.17 and a beta of 1.52. The stock has a 50 day moving average of $13.65 and a 200-day moving average of $15.18.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.09. The firm had revenue of $192.71 million for the quarter, compared to analyst estimates of $188.49 million. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. On average, equities analysts predict that Upwork Inc. will post 0.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on UPWK shares. Roth Mkm cut their target price on Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of Upwork in a report on Tuesday, May 6th. Jefferies Financial Group reduced their target price on Upwork from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 7th. BTIG Research cut Upwork from a “buy” rating to a “neutral” rating in a research report on Friday, April 4th. Finally, JMP Securities reissued a “market outperform” rating and issued a $18.00 price target on shares of Upwork in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

Hedge Funds Weigh In On Upwork

A number of hedge funds and other institutional investors have recently made changes to their positions in UPWK. IFP Advisors Inc raised its stake in Upwork by 3,492.8% during the first quarter. IFP Advisors Inc now owns 3,988 shares of the company’s stock worth $52,000 after acquiring an additional 3,877 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Upwork by 1,235.1% in the 1st quarter. GAMMA Investing LLC now owns 4,072 shares of the company’s stock valued at $53,000 after purchasing an additional 3,767 shares during the last quarter. Nkcfo LLC acquired a new stake in Upwork during the 4th quarter worth $82,000. SBI Securities Co. Ltd. acquired a new stake in shares of Upwork during the fourth quarter worth $84,000. Finally, Financial Management Professionals Inc. bought a new stake in shares of Upwork in the 4th quarter valued at about $97,000. 77.71% of the stock is owned by institutional investors.

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.