Upwork (NASDAQ:UPWK) Insider Sells $33,473.44 in Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 2,002 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $16.72, for a total transaction of $33,473.44. Following the completion of the transaction, the insider directly owned 2,093 shares of the company’s stock, valued at approximately $34,994.96. The trade was a 48.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, November 19th, Dave Bottoms sold 1,748 shares of Upwork stock. The stock was sold at an average price of $18.13, for a total transaction of $31,691.24.
• On Monday, November 17th, Dave Bottoms sold 561 shares of Upwork stock. The shares were sold at an average price of $16.45, for a total value of $9,228.45.
• On Friday, September 19th, Dave Bottoms sold 10,014 shares of Upwork stock. The shares were sold at an average price of $19.96, for a total value of $199,879.44.
• On Thursday, September 18th, Dave Bottoms sold 10,894 shares of Upwork stock. The stock was sold at an average price of $19.16, for a total value of $208,729.04.

Upwork Stock Up 4.1%

Shares of UPWK opened at $17.87 on Friday. The business has a 50-day simple moving average of $17.40 and a two-hundred day simple moving average of $15.52. Upwork Inc. has a 12-month low of $11.13 and a 12-month high of $20.54. The stock has a market cap of $2.33 billion, a PE ratio of 10.21 and a beta of 1.57.

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

Upwork declared that its Board of Directors has initiated a stock buyback program on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on the company. Roth Capital reaffirmed a “buy” rating and set a $22.00 target price (up from $19.00) on shares of Upwork in a report on Wednesday, November 5th. BTIG Research reaffirmed a “neutral” rating on shares of Upwork in a research note on Wednesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Upwork in a research report on Wednesday, October 8th. UBS Group raised their price target on shares of Upwork from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Canaccord Genuity Group upped their price objective on shares of Upwork from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.92.

Institutional Trading of Upwork

Large investors have recently modified their holdings of the stock. Financial Gravity Companies Inc. acquired a new position in shares of Upwork during the 2nd quarter valued at $5,118,000. Inspire Investing LLC acquired a new stake in Upwork in the first quarter worth $750,000. Aviance Capital Partners LLC bought a new stake in Upwork in the second quarter valued at $619,000. Acadian Asset Management LLC raised its holdings in shares of Upwork by 24.3% during the first quarter. Acadian Asset Management LLC now owns 843,330 shares of the company’s stock valued at $10,996,000 after purchasing an additional 164,993 shares during the period. Finally, Boston Partners boosted its position in shares of Upwork by 61.6% during the 2nd quarter. Boston Partners now owns 262,219 shares of the company’s stock worth $3,524,000 after purchasing an additional 99,941 shares in the last quarter. Institutional investors and hedge funds 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.