Erica Gessert Sells 19,816 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 19,816 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $15.13, for a total transaction of $299,816.08. Following the sale, the chief financial officer now directly owns 128,939 shares of the company’s stock, valued at approximately $1,950,847.07. The trade was a 13.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, September 18th, Erica Gessert sold 4,491 shares of Upwork stock. The shares were sold at an average price of $10.57, for a total transaction of $47,469.87.

Upwork Trading Up 4.2 %

Shares of NASDAQ UPWK opened at $16.02 on Friday. The company’s fifty day moving average is $12.18 and its 200-day moving average is $11.21. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 25.43 and a beta of 1.49. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $17.79. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.87.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $193.78 million for the quarter, compared to analysts’ expectations of $185.55 million. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share. Equities research analysts predict that Upwork Inc. will post 0.65 EPS for the current year.

Hedge Funds Weigh In On Upwork

Hedge funds and other institutional investors have recently made changes to their positions in the company. KBC Group NV raised its holdings in shares of Upwork by 45.4% during the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after acquiring an additional 1,497 shares during the period. ProShare Advisors LLC raised its holdings in shares of Upwork by 8.6% during the first quarter. ProShare Advisors LLC now owns 22,483 shares of the company’s stock worth $276,000 after acquiring an additional 1,771 shares during the period. Quarry LP raised its holdings in shares of Upwork by 42.6% during the third quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after acquiring an additional 1,851 shares during the period. Federated Hermes Inc. raised its holdings in shares of Upwork by 0.6% during the second quarter. Federated Hermes Inc. now owns 318,659 shares of the company’s stock worth $3,426,000 after acquiring an additional 1,996 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Upwork by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 66,809 shares of the company’s stock worth $718,000 after acquiring an additional 2,063 shares during the period. 77.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on UPWK shares. JMP Securities increased their price target on shares of Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group increased their price target on shares of Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their price target on shares of Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada decreased their price target on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Finally, Citigroup decreased their price target on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock 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.