Upwork Inc. (NASDAQ:UPWK) Insider Sells $17,294.26 in Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 1,009 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $17.14, for a total transaction of $17,294.26. Following the completion of the transaction, the insider now directly owns 1,620 shares in the company, valued at $27,766.80. This trade represents a 38.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, May 19th, Dave Bottoms sold 2,130 shares of Upwork stock. The shares were sold at an average price of $16.66, for a total value of $35,485.80.
• On Tuesday, March 18th, Dave Bottoms sold 5,411 shares of Upwork stock. The stock was sold at an average price of $13.07, for a total value of $70,721.77.
• 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 Trading Down 4.0%

Shares of UPWK opened at $16.55 on Tuesday. The stock’s 50-day moving average price is $13.78 and its 200 day moving average price is $15.25. 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 capitalization of $2.18 billion, a price-to-earnings ratio of 10.82 and a beta of 1.52. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on UPWK shares. Scotiabank initiated coverage on Upwork in a report on Wednesday, March 12th. They issued a “sector perform” rating and a $15.00 price objective on the stock. JMP Securities increased their price target on shares of Upwork from $18.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday. Roth Mkm reduced their price objective on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. UBS Group increased their target price on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Citigroup restated an “outperform” rating on shares of Upwork in a report on Friday. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Upwork presently has an average rating of “Moderate Buy” and an average target price of $18.67.

Hedge Funds Weigh In On Upwork

A number of hedge funds have recently made changes to their positions in UPWK. Susquehanna Fundamental Investments LLC bought a new stake in Upwork in the fourth quarter valued at about $806,000. Bayesian Capital Management LP acquired a new stake in Upwork during the fourth quarter valued at approximately $1,019,000. Dorsey Asset Management LLC grew its stake in shares of Upwork by 15.0% in the 4th quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company’s stock valued at $49,788,000 after purchasing an additional 397,997 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Upwork in the 4th quarter valued at approximately $419,000. Finally, Rhumbline Advisers raised its holdings in shares of Upwork by 1.4% in the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock worth $2,914,000 after buying an additional 2,387 shares in the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

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.