Upwork Inc. (NASDAQ:UPWK) Insider Sells $70,721.77 in Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 5,411 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total value of $70,721.77. Following the completion of the transaction, the insider now directly owns 9,593 shares in the company, valued at approximately $125,380.51. The trade was a 36.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, February 18th, Dave Bottoms sold 1,543 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total value of $24,919.45.

Upwork Stock Up 0.2 %

Upwork stock opened at $13.45 on Friday. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 8.79 and a beta of 1.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14. The stock’s fifty day moving average is $15.43 and its two-hundred day moving average is $14.24.

Upwork (NASDAQ:UPWK) last announced its earnings results on Wednesday, February 12th. The company reported $1.03 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%. Analysts predict that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. KBC Group NV boosted its stake in shares of Upwork by 45.4% during the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after purchasing an additional 1,497 shares during the last quarter. Quarry LP grew its stake in Upwork by 42.6% in the 3rd 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. Citizens Financial Group Inc. RI grew its stake in Upwork by 18.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company’s stock worth $143,000 after acquiring an additional 2,129 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Upwork by 3.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 67,716 shares of the company’s stock valued at $1,107,000 after acquiring an additional 2,148 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Upwork by 1.4% during the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock worth $2,914,000 after purchasing an additional 2,387 shares during the period. Institutional investors and hedge funds own 77.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on UPWK. Needham & Company LLC upped their price objective on shares of Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group increased their price target on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Scotiabank started coverage on Upwork in a report on Wednesday, March 12th. They issued a “sector perform” rating and a $15.00 price objective on the stock. Royal Bank of Canada increased their target price on Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $18.00 price target on shares of Upwork in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Upwork has a consensus rating of “Moderate Buy” and a consensus price target of $18.58.

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.