Hayden Brown Sells 25,577 Shares of Upwork (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 25,577 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $13.84, for a total transaction of $353,985.68. Following the completion of the transaction, the chief executive officer directly owned 1,118,291 shares of the company’s stock, valued at approximately $15,477,147.44. The trade was a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Friday, August 15th, Hayden Brown sold 60,000 shares of Upwork stock. The stock was sold at an average price of $13.76, for a total transaction of $825,600.00.
• On Wednesday, June 18th, Hayden Brown sold 23,716 shares of Upwork stock. The stock was sold at an average price of $13.51, for a total transaction of $320,403.16.

Upwork Price Performance

Shares of NASDAQ UPWK opened at $14.20 on Thursday. The firm has a market cap of $1.88 billion, a PE ratio of 8.16 and a beta of 1.38. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.59. Upwork Inc. has a 1-year low of $8.90 and a 1-year high of $18.14. The company has a fifty day moving average price of $13.30 and a 200 day moving average price of $14.14.

Upwork (NASDAQ:UPWK) last announced its earnings results on Wednesday, August 6th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.09. The firm had revenue of $194.94 million during the quarter, compared to analyst estimates of $187.56 million. Upwork had a net margin of 31.75% and a return on equity of 44.83%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 EPS. Research analysts predict that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Upwork

Large investors have recently modified their holdings of the business. Elevation Point Wealth Partners LLC acquired a new stake in Upwork in the 2nd quarter valued at about $30,000. LRI Investments LLC lifted its stake in Upwork by 415.9% in the 2nd quarter. LRI Investments LLC now owns 2,528 shares of the company’s stock valued at $34,000 after purchasing an additional 2,038 shares during the last quarter. EMC Capital Management acquired a new stake in Upwork in the 2nd quarter valued at about $45,000. EverSource Wealth Advisors LLC lifted its stake in Upwork by 19,361.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,503 shares of the company’s stock valued at $47,000 after purchasing an additional 3,485 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in Upwork by 3,492.8% in the 1st quarter. IFP Advisors Inc now owns 3,988 shares of the company’s stock valued at $52,000 after purchasing an additional 3,877 shares during the last quarter. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on UPWK shares. JMP Securities upped their target price on shares of Upwork from $18.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, May 16th. Wall Street Zen downgraded shares of Upwork from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Royal Bank Of Canada restated a “sector perform” rating and set a $18.00 price objective on shares of Upwork in a research note on Monday, June 2nd. Needham & Company LLC restated a “buy” rating and set a $19.00 price objective on shares of Upwork in a research note on Tuesday, May 6th. Finally, Citigroup restated an “outperform” rating on shares of Upwork in a research note on Friday, May 16th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.