Upwork Inc. (NASDAQ:UPWK) CEO Sells $636,800.00 in Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 40,000 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $15.92, for a total value of $636,800.00. Following the sale, the chief executive officer now directly owns 1,183,741 shares of the company’s stock, valued at approximately $18,845,156.72. This trade represents a 3.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, March 18th, Hayden Brown sold 9,075 shares of Upwork stock. The shares were sold at an average price of $13.07, for a total value of $118,610.25.
• On Friday, March 7th, Hayden Brown sold 60,000 shares of Upwork stock. The stock was sold at an average price of $14.20, for a total value of $852,000.00.
• On Tuesday, February 18th, Hayden Brown sold 21,122 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total value of $341,120.30.

Upwork Trading Up 2.6%

NASDAQ:UPWK opened at $16.88 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The business’s 50-day simple moving average is $13.40 and its 200 day simple moving average is $15.08. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 11.03 and a beta of 1.52.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.34 earnings per share (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 firm had revenue of $192.71 million for the quarter, compared to analysts’ expectations of $188.49 million. During the same quarter in the prior 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. As a group, sell-side analysts predict that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $18.00 target price on shares of Upwork in a research report on Thursday, January 30th. UBS Group upped their target price on Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Roth Mkm decreased their target price on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Scotiabank assumed coverage on Upwork in a research report on Wednesday, March 12th. They issued a “sector perform” rating and a $15.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 target price on shares of Upwork in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. grew its position in shares of Upwork by 5.7% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 27,228 shares of the company’s stock worth $347,000 after acquiring an additional 1,465 shares in the last quarter. KBC Group NV grew its position in shares of Upwork by 39.6% in the 4th quarter. KBC Group NV now owns 6,690 shares of the company’s stock worth $109,000 after acquiring an additional 1,899 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Upwork by 3.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 67,716 shares of the company’s stock worth $1,107,000 after acquiring an additional 2,148 shares in the last quarter. Rhumbline Advisers grew its position in shares of Upwork by 1.4% in the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock worth $2,914,000 after acquiring an additional 2,387 shares in the last quarter. Finally, King Luther Capital Management Corp grew its position in shares of Upwork by 1.0% in the 4th quarter. King Luther Capital Management Corp now owns 263,802 shares of the company’s stock worth $4,313,000 after acquiring an additional 2,636 shares in the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

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.