Upwork Inc. (NASDAQ:UPWK) Insider Sells $156,202.62 in Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 11,562 shares of Upwork stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $13.51, for a total value of $156,202.62. Following the sale, the insider now owns 9,345 shares of the company’s stock, valued at approximately $126,250.95. This represents a 55.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, May 20th, Dave Bottoms sold 1,620 shares of Upwork stock. The shares were sold at an average price of $16.41, for a total transaction of $26,584.20.
• On Monday, May 19th, Dave Bottoms sold 2,130 shares of Upwork stock. The stock was sold at an average price of $16.66, for a total transaction of $35,485.80.
• On Thursday, May 15th, Dave Bottoms sold 1,009 shares of Upwork stock. The shares were sold at an average price of $17.14, for a total transaction of $17,294.26.

Upwork Trading Down 0.5%

Shares of NASDAQ UPWK traded down $0.07 during midday trading on Monday, hitting $13.07. The stock had a trading volume of 3,287,541 shares, compared to its average volume of 2,279,736. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 0.60. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 7.83 and a beta of 1.44. The company has a fifty day moving average price of $14.76 and a 200 day moving average price of $15.10.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings results 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 net margin of 30.46% and a return on equity of 48.38%. The firm had revenue of $192.71 million for the quarter, compared to analyst estimates of $188.49 million. During the same quarter last year, the firm posted $0.22 earnings per share. Upwork’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts predict that Upwork Inc. will post 0.84 earnings per share for the current year.

Analysts Set New Price Targets

UPWK has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 target price on shares of Upwork in a research note on Tuesday, May 6th. Citigroup reaffirmed an “outperform” rating on shares of Upwork in a research report on Friday, May 16th. Wall Street Zen upgraded Upwork from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 24th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $18.00 price target on shares of Upwork in a research note on Monday, June 2nd. Finally, JMP Securities lifted their price target on Upwork from $18.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Upwork has an average rating of “Moderate Buy” and a consensus price target of $18.67.

Hedge Funds Weigh In On Upwork

A number of hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of Upwork by 1.4% in the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock worth $2,914,000 after buying an additional 2,387 shares during the period. Sanctuary Advisors LLC acquired a new position in Upwork during the 4th quarter worth approximately $996,000. Bank of New York Mellon Corp boosted its holdings in Upwork by 9.3% in the 4th quarter. Bank of New York Mellon Corp now owns 413,248 shares of the company’s stock worth $6,757,000 after acquiring an additional 35,074 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Upwork in the fourth quarter valued at approximately $84,000. Finally, Charles Schwab Investment Management Inc. grew its position in Upwork by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,946 shares of the company’s stock valued at $17,592,000 after acquiring an additional 64,438 shares in the last quarter. Hedge funds and other institutional investors 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.