Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert Sells 4,491 Shares

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 4,491 shares of Upwork stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $10.57, for a total value of $47,469.87. Following the completion of the transaction, the chief financial officer now owns 111,255 shares of the company’s stock, valued at approximately $1,175,965.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Erica Gessert also recently made the following trade(s):

• On Monday, August 19th, Erica Gessert sold 20,353 shares of Upwork stock. The stock was sold at an average price of $9.65, for a total value of $196,406.45.

Upwork Stock Down 0.6 %

Shares of NASDAQ UPWK opened at $10.71 on Friday. The stock has a 50 day moving average price of $10.30 and a 200 day moving average price of $11.08. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 30.60 and a beta of 1.54. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $16.36. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.00 and a current ratio of 3.00.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. Upwork had a return on equity of 20.75% and a net margin of 10.00%. The firm had revenue of $193.13 million during the quarter, compared to the consensus estimate of $193.05 million. During the same period in the previous year, the company posted ($0.03) earnings per share. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. Sell-side analysts expect that Upwork Inc. will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on UPWK. The Goldman Sachs Group cut their price objective on shares of Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Roth Mkm decreased their price objective on shares of Upwork from $19.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Royal Bank of Canada dropped their target price on Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Canaccord Genuity Group reduced their price target on Upwork from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Piper Sandler decreased their price target on Upwork from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Upwork currently has a consensus rating of “Moderate Buy” and an average target price of $15.70.

Institutional Investors Weigh In On Upwork

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Upwork by 5.1% during the first quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock valued at $196,115,000 after buying an additional 770,088 shares during the period. Divisadero Street Capital Management LP increased its holdings in shares of Upwork by 32.9% in the 2nd quarter. Divisadero Street Capital Management LP now owns 3,320,912 shares of the company’s stock valued at $35,700,000 after acquiring an additional 822,518 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Upwork by 239.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock valued at $33,491,000 after acquiring an additional 1,589,693 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Upwork by 27.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,806,969 shares of the company’s stock worth $19,424,000 after purchasing an additional 389,006 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Upwork by 71.0% in the second quarter. Acadian Asset Management LLC now owns 1,635,602 shares of the company’s stock worth $17,572,000 after purchasing an additional 679,028 shares in the last quarter. Hedge funds and other institutional investors 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.