Dave Bottoms Sells 2,379 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWKGet Free Report) VP Dave Bottoms sold 2,379 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $11.73, for a total value of $27,905.67. Following the transaction, the vice president now directly owns 2,326 shares of the company’s stock, valued at approximately $27,283.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Friday, May 3rd, Dave Bottoms sold 2,843 shares of Upwork stock. The shares were sold at an average price of $13.22, for a total value of $37,584.46.

Upwork Stock Down 1.6 %

NASDAQ:UPWK opened at $11.41 on Thursday. Upwork Inc. has a 52 week low of $7.54 and a 52 week high of $16.36. The stock’s fifty day moving average is $11.93 and its two-hundred day moving average is $13.31. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 32.60 and a beta of 1.66. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 1.02.

Upwork (NASDAQ:UPWKGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $190.94 million for the quarter, compared to analyst estimates of $186.71 million. Upwork had a return on equity of 13.96% and a net margin of 6.70%. Research analysts anticipate that Upwork Inc. will post 0.52 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Upwork in a research report on Wednesday, May 15th. Roth Mkm reaffirmed a “buy” rating and issued a $19.00 price target on shares of Upwork in a report on Wednesday, May 15th. UBS Group lifted their price target on Upwork from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Royal Bank of Canada dropped their price objective on shares of Upwork from $18.00 to $15.00 and set a “sector perform” rating for the company in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Upwork from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.80.

Get Our Latest Analysis on Upwork

Institutional Trading of Upwork

Several hedge funds have recently modified their holdings of UPWK. Vanguard Group Inc. lifted its position in shares of Upwork by 5.1% during the 3rd quarter. Vanguard Group Inc. now owns 14,565,252 shares of the company’s stock worth $165,461,000 after purchasing an additional 702,595 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Upwork by 120.8% in the 4th quarter. BNP Paribas Financial Markets now owns 526,984 shares of the company’s stock valued at $7,836,000 after acquiring an additional 288,330 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Upwork by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 956,370 shares of the company’s stock worth $10,864,000 after acquiring an additional 43,081 shares in the last quarter. Graham Capital Management L.P. lifted its stake in Upwork by 143.1% during the third quarter. Graham Capital Management L.P. now owns 115,738 shares of the company’s stock worth $1,315,000 after purchasing an additional 68,124 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in Upwork by 58.4% in the third quarter. Citigroup Inc. now owns 182,603 shares of the company’s stock valued at $2,074,000 after purchasing an additional 67,308 shares in the last quarter. 77.71% of the stock is currently owned by institutional investors and hedge funds.

About Upwork

(Get Free Report)

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.

Recommended Stories

Insider Buying and Selling by Quarter for Upwork (NASDAQ:UPWK)

Receive News & Ratings for Upwork Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Upwork and related companies with MarketBeat.com's FREE daily email newsletter.