Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown Sells 10,000 Shares

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 10,000 shares of Upwork stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.85, for a total transaction of $158,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,168,850 shares of the company’s stock, valued at $18,526,272.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, September 18th, Hayden Brown sold 9,444 shares of Upwork stock. The stock was sold at an average price of $10.57, for a total value of $99,823.08.
• On Monday, September 16th, Hayden Brown sold 20,000 shares of Upwork stock. The shares were sold at an average price of $10.01, for a total value of $200,200.00.
• On Monday, August 19th, Hayden Brown sold 31,506 shares of Upwork stock. The shares were sold at an average price of $9.65, for a total transaction of $304,032.90.

Upwork Price Performance

Upwork stock opened at $15.72 on Thursday. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87. The stock has a market cap of $2.10 billion, a P/E ratio of 24.95 and a beta of 1.49. The company has a 50-day moving average price of $11.50 and a 200 day moving average price of $11.08. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $17.79.

Upwork (NASDAQ:UPWK) last posted its earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The company had revenue of $193.78 million during the quarter, compared to analysts’ expectations of $185.55 million. During the same quarter last year, the firm earned $0.12 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. Sell-side analysts anticipate that Upwork Inc. will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of UPWK. Vanguard Group Inc. boosted its holdings in Upwork by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock valued at $196,115,000 after acquiring an additional 770,088 shares during the period. Divisadero Street Capital Management LP grew its holdings in shares of Upwork by 32.9% in the second quarter. Divisadero Street Capital Management LP now owns 3,320,912 shares of the company’s stock valued at $35,700,000 after purchasing an additional 822,518 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Upwork by 27.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,806,969 shares of the company’s stock valued at $19,424,000 after purchasing an additional 389,006 shares in the last quarter. Acadian Asset Management LLC increased its stake in Upwork by 71.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,635,602 shares of the company’s stock worth $17,572,000 after buying an additional 679,028 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Upwork by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,011,508 shares of the company’s stock worth $10,570,000 after buying an additional 14,680 shares in the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on UPWK shares. Piper Sandler reissued an “overweight” rating and set a $18.00 target price (up previously from $13.00) on shares of Upwork in a research note on Thursday, November 7th. Royal Bank of Canada reduced their target price on Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. JMP Securities lifted their price target on Upwork from $14.00 to $18.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group increased their price objective on Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Roth Mkm lifted their target price on shares of Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

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.