Upwork (NASDAQ:UPWK) CEO Hayden Brown Sells 24,846 Shares

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 24,846 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $16.70, for a total value of $414,928.20. Following the completion of the transaction, the chief executive officer directly owned 1,107,894 shares in the company, valued at approximately $18,501,829.80. The trade was a 2.19% decrease in their position. The transaction 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, September 19th, Hayden Brown sold 20,000 shares of Upwork stock. The stock was sold at an average price of $20.00, for a total value of $400,000.00.
• On Thursday, September 18th, Hayden Brown sold 42,344 shares of Upwork stock. The stock was sold at an average price of $19.09, for a total value of $808,346.96.
• On Wednesday, September 17th, Hayden Brown sold 20,000 shares of Upwork stock. The shares were sold at an average price of $18.00, for a total transaction of $360,000.00.

Upwork Stock Performance

UPWK traded down $1.00 during trading on Thursday, hitting $17.16. The stock had a trading volume of 9,022,008 shares, compared to its average volume of 2,696,741. The firm has a market capitalization of $2.24 billion, a P/E ratio of 9.81 and a beta of 1.57. Upwork Inc. has a twelve month low of $11.13 and a twelve month high of $20.54. The company’s 50-day moving average price is $17.37 and its 200 day moving average price is $15.48.

Upwork (NASDAQ:UPWK) last released its earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). Upwork had a return on equity of 41.05% and a net margin of 31.63%.The firm had revenue of $201.73 million during the quarter, compared to analyst estimates of $193.33 million. During the same quarter last year, the business posted $0.30 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. Upwork has set its FY 2025 guidance at 1.350-1.370 EPS. Q4 2025 guidance at 0.310-0.330 EPS. As a group, equities analysts expect that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Upwork announced that its Board of Directors has authorized a share buyback plan on Wednesday, September 3rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Upwork

A number of institutional investors have recently bought and sold shares of UPWK. Accredited Wealth Management LLC raised its stake in shares of Upwork by 5,280.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,345 shares of the company’s stock worth $25,000 after buying an additional 1,320 shares during the last quarter. Clearstead Advisors LLC grew its stake in Upwork by 998.4% in the 3rd quarter. Clearstead Advisors LLC now owns 1,406 shares of the company’s stock valued at $26,000 after acquiring an additional 1,278 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Upwork during the 2nd quarter valued at about $30,000. Fifth Third Bancorp raised its position in Upwork by 2,405.7% during the third quarter. Fifth Third Bancorp now owns 1,754 shares of the company’s stock worth $33,000 after acquiring an additional 1,684 shares during the last quarter. Finally, LRI Investments LLC raised its position in Upwork by 415.9% during the second quarter. LRI Investments LLC now owns 2,528 shares of the company’s stock worth $34,000 after acquiring an additional 2,038 shares during the last quarter. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group increased their target price on Upwork from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group increased their price objective on Upwork from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group raised their target price on Upwork from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday. Wall Street Zen upgraded shares of Upwork from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price target on shares of Upwork in a research note on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Upwork currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.92.

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.