Upwork Inc. (NASDAQ:UPWK) VP Sells $24,919.45 in Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 1,543 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total transaction of $24,919.45. Following the completion of the transaction, the vice president now owns 2,207 shares of the company’s stock, valued at approximately $35,643.05. The trade was a 41.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Dave Bottoms also recently made the following trade(s):

• On Wednesday, December 18th, Dave Bottoms sold 5,360 shares of Upwork stock. The stock was sold at an average price of $17.11, for a total transaction of $91,709.60.

Upwork Price Performance

Shares of Upwork stock traded down $0.68 during trading on Thursday, reaching $16.76. The company’s stock had a trading volume of 3,338,335 shares, compared to its average volume of 2,702,107. The stock has a 50-day moving average price of $16.32 and a two-hundred day moving average price of $13.61. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The stock has a market capitalization of $2.27 billion, a P/E ratio of 10.95 and a beta of 1.57.

Upwork (NASDAQ:UPWK) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. As a group, sell-side analysts anticipate that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on UPWK shares. BTIG Research raised their price target on shares of Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC lifted their price target on shares of Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and issued a $18.00 price target on shares of Upwork in a research report on Thursday, January 30th. Royal Bank of Canada raised their price objective on shares of Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Finally, Citigroup lifted their price target on shares of Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.91.

Institutional Trading of Upwork

Several institutional investors and hedge funds have recently added to or reduced their stakes in UPWK. Price T Rowe Associates Inc. MD raised its holdings in Upwork by 51.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock worth $253,405,000 after purchasing an additional 5,289,493 shares during the last quarter. Invesco Ltd. increased its stake in shares of Upwork by 1,674.0% in the 4th quarter. Invesco Ltd. now owns 1,748,320 shares of the company’s stock valued at $28,585,000 after acquiring an additional 1,649,766 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Upwork by 86.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company’s stock valued at $54,005,000 after acquiring an additional 1,534,078 shares during the last quarter. Contour Asset Management LLC bought a new stake in shares of Upwork in the 4th quarter valued at about $24,633,000. Finally, LSV Asset Management bought a new stake in shares of Upwork in the 4th quarter valued at about $18,838,000. 77.71% of the stock is owned by institutional investors.

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.