Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert Sells 4,279 Shares

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 4,279 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total transaction of $73,213.69. Following the transaction, the chief financial officer now owns 133,093 shares in the company, valued at approximately $2,277,221.23. The trade was a 3.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, November 18th, Erica Gessert sold 19,816 shares of Upwork stock. The shares were sold at an average price of $15.13, for a total value of $299,816.08.

Upwork Price Performance

Upwork stock opened at $16.44 on Friday. The stock has a 50-day moving average price of $14.89 and a two-hundred day moving average price of $11.99. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $18.14. The company has a market capitalization of $2.20 billion, a PE ratio of 26.10 and a beta of 1.58. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The business had revenue of $193.78 million during the quarter, compared to analyst estimates of $185.55 million. During the same quarter last year, the business earned $0.12 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts expect that Upwork Inc. will post 0.65 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on UPWK. Citigroup lifted their price objective on Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Roth Mkm upped their price objective on shares of Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group increased their price objective on shares of Upwork from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Piper Sandler restated an “overweight” rating and issued a $18.00 target price (up from $13.00) on shares of Upwork in a research report on Thursday, November 7th. Finally, BTIG Research increased their price target on shares of Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.36.

Hedge Funds Weigh In On Upwork

Hedge funds have recently modified their holdings of the business. SkyView Investment Advisors LLC raised its position in Upwork by 13.9% during the 3rd quarter. SkyView Investment Advisors LLC now owns 226,375 shares of the company’s stock worth $2,366,000 after purchasing an additional 27,639 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Upwork in the third quarter valued at about $355,000. XTX Topco Ltd raised its position in shares of Upwork by 198.6% during the third quarter. XTX Topco Ltd now owns 60,509 shares of the company’s stock worth $632,000 after acquiring an additional 40,242 shares during the last quarter. Tabor Asset Management LP acquired a new position in shares of Upwork in the third quarter worth approximately $993,000. Finally, Tenzing Global Management LLC boosted its holdings in Upwork by 20.0% in the third quarter. Tenzing Global Management LLC now owns 450,000 shares of the company’s stock valued at $4,702,000 after acquiring an additional 75,000 shares during 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.