Upwork Inc. (NASDAQ:UPWK) CEO Sells $438,342.04 in Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 26,438 shares of the company’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $16.58, for a total transaction of $438,342.04. Following the sale, the chief executive officer now directly owns 1,130,791 shares of the company’s stock, valued at approximately $18,748,514.78. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, May 15th, Hayden Brown sold 60,000 shares of Upwork stock. The shares were sold at an average price of $17.16, for a total transaction of $1,029,600.00.
• On Monday, May 12th, Hayden Brown sold 20,000 shares of Upwork stock. The shares were sold at an average price of $17.09, for a total transaction of $341,800.00.
• On Wednesday, May 7th, Hayden Brown sold 40,000 shares of Upwork stock. The stock was 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 4.0%

NASDAQ:UPWK traded down $0.69 during trading hours on Monday, hitting $16.55. 2,542,203 shares of the company traded hands, compared to its average volume of 2,259,151. 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’s 50-day simple moving average is $13.78 and its 200-day simple moving average is $15.25. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The company has a market cap of $2.18 billion, a PE ratio of 10.82 and a beta of 1.52.

Upwork (NASDAQ:UPWK) last posted its earnings results on Monday, May 5th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. The business had revenue of $192.71 million during 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 quarter in the previous year, the firm earned $0.22 EPS. Equities analysts predict that Upwork Inc. will post 0.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

UPWK has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price target on shares of Upwork in a research note on Tuesday, May 6th. JMP Securities upped their price objective on shares of Upwork from $18.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 target price on shares of Upwork in a research report on Tuesday, May 6th. Roth Mkm reduced their target price on shares of 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 began coverage on shares of Upwork in a research report on Wednesday, March 12th. They issued a “sector perform” rating and a $15.00 target price for the company. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Upwork has a consensus rating of “Moderate Buy” and a consensus price target of $18.67.

Institutional Trading of Upwork

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc grew its stake in Upwork by 3,492.8% in the first quarter. IFP Advisors Inc now owns 3,988 shares of the company’s stock worth $52,000 after purchasing an additional 3,877 shares during the period. GAMMA Investing LLC grew its stake in shares of Upwork by 1,235.1% in the first quarter. GAMMA Investing LLC now owns 4,072 shares of the company’s stock worth $53,000 after acquiring an additional 3,767 shares during the last quarter. Nkcfo LLC bought a new stake in Upwork in the 4th quarter worth about $82,000. SBI Securities Co. Ltd. bought a new stake in Upwork in the 4th quarter worth about $84,000. Finally, Financial Management Professionals Inc. bought a new stake in Upwork in the 4th quarter worth about $97,000. Institutional investors own 77.71% of the company’s stock.

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.