Upwork Inc. (NASDAQ:UPWK) CFO Sells $325,851.12 in Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 19,677 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $16.56, for a total transaction of $325,851.12. Following the sale, the chief financial officer now owns 181,873 shares in the company, valued at $3,011,816.88. This trade represents a 9.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Erica Gessert also recently made the following trade(s):

• On Tuesday, March 18th, Erica Gessert sold 4,316 shares of Upwork stock. The stock was sold at an average price of $13.07, for a total transaction of $56,410.12.
• On Tuesday, February 18th, Erica Gessert sold 13,765 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total transaction of $222,304.75.

Upwork Price Performance

Shares of UPWK opened at $16.22 on Thursday. The stock has a market capitalization of $2.13 billion, a P/E ratio of 10.60 and a beta of 1.52. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14. The company has a 50 day moving average of $13.94 and a 200-day moving average of $15.26. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62.

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

Hedge Funds Weigh In On Upwork

Several hedge funds and other institutional investors have recently made changes to their positions in UPWK. IFP Advisors Inc grew its stake in shares of Upwork by 3,492.8% in the first quarter. IFP Advisors Inc now owns 3,988 shares of the company’s stock valued at $52,000 after buying an additional 3,877 shares in the last quarter. 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 valued at $53,000 after buying an additional 3,767 shares in the last quarter. Nkcfo LLC bought a new position in shares of Upwork in the fourth quarter valued at $82,000. SBI Securities Co. Ltd. bought a new position in shares of Upwork in the fourth quarter valued at $84,000. Finally, Financial Management Professionals Inc. bought a new position in shares of Upwork in the fourth quarter valued at $97,000. 77.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JMP Securities raised their target price on shares of Upwork from $18.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, May 16th. BTIG Research downgraded shares of Upwork from a “buy” rating to a “neutral” rating in a report on Friday, April 4th. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 target price on shares of Upwork in a report on Tuesday, May 6th. UBS Group raised their price target on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Upwork in a research note on Friday, May 16th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.67.

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.