Insider Selling: Upwork Inc. (NASDAQ:UPWK) Director Sells $50,903.04 in Stock

Upwork Inc. (NASDAQ:UPWK) Director Leela Srinivasan sold 3,314 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $15.36, for a total value of $50,903.04. Following the completion of the transaction, the director now owns 79,469 shares of the company’s stock, valued at $1,220,643.84. The trade was a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Leela Srinivasan also recently made the following trade(s):

• On Thursday, June 5th, Leela Srinivasan sold 6,520 shares of Upwork stock. The shares were sold at an average price of $15.16, for a total value of $98,843.20.

Upwork Trading Down 5.1%

NASDAQ:UPWK opened at $14.57 on Thursday. The business’s 50-day moving average is $14.60 and its two-hundred day moving average is $15.29. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $18.14. The firm has a market capitalization of $1.92 billion, a PE ratio of 9.52 and a beta of 1.44.

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

Institutional Trading of Upwork

Hedge funds and other institutional investors have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Upwork during the fourth quarter worth about $806,000. Bayesian Capital Management LP purchased a new stake in shares of Upwork during the fourth quarter worth about $1,019,000. Dorsey Asset Management LLC increased its position in shares of Upwork by 15.0% during the fourth quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company’s stock worth $49,788,000 after acquiring an additional 397,997 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Upwork by 385.2% during the fourth quarter. Ameriprise Financial Inc. now owns 232,128 shares of the company’s stock worth $3,795,000 after acquiring an additional 184,289 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Upwork during the fourth quarter worth about $419,000. 77.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on UPWK shares. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Upwork in a research note on Tuesday, May 6th. Wall Street Zen upgraded Upwork from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 24th. Roth Mkm reduced 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. Jefferies Financial Group reduced their target price on Upwork from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Finally, UBS Group lifted their target price on Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.67.

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.