Dave Bottoms Sells 1,543 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 1,543 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value 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 $35,643.05. This represents a 41.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

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

Upwork Stock Performance

UPWK traded down $0.68 during trading hours 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. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. The company’s 50-day moving average is $16.32 and its 200-day moving average is $13.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The firm has a market cap of $2.27 billion, a PE ratio of 10.95 and a beta of 1.57.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share 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%. On average, equities analysts forecast that Upwork Inc. will post 0.84 EPS for the current year.

Wall Street Analysts Forecast Growth

UPWK has been the subject of several research analyst reports. Roth Mkm decreased their price objective on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. BTIG Research upped their price target on Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC upped their price target on Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Citigroup upped their price target on Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Finally, Royal Bank of Canada upped their price target on Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Three investment 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 has a consensus rating of “Moderate Buy” and an average target price of $18.91.

Institutional Investors Weigh In On Upwork

A number of large investors have recently added to or reduced their stakes in the business. KBC Group NV increased its position in 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 buying an additional 1,497 shares during the period. CWM LLC increased its position in Upwork by 71.9% during the 3rd quarter. CWM LLC now owns 5,896 shares of the company’s stock worth $62,000 after buying an additional 2,467 shares during the period. Quarry LP increased its position in Upwork by 42.6% during the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after buying an additional 1,851 shares during the period. Nkcfo LLC bought a new position in Upwork during the 4th quarter worth $82,000. Finally, SBI Securities Co. Ltd. bought a new position in Upwork during the 4th quarter worth $84,000. Institutional investors 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.