Hayden Brown Sells 60,000 Shares of Upwork (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 60,000 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $18.20, for a total transaction of $1,092,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,047,894 shares of the company’s stock, valued at $19,071,670.80. This trade represents a 5.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hayden Brown also recently made the following trade(s):

• On Tuesday, November 18th, Hayden Brown sold 24,846 shares of Upwork stock. The stock was sold at an average price of $16.70, for a total value of $414,928.20.
• On Friday, September 19th, Hayden Brown sold 20,000 shares of Upwork stock. The shares were sold at an average price of $20.00, for a total value of $400,000.00.
• On Thursday, September 18th, Hayden Brown sold 42,344 shares of Upwork stock. The stock was sold at an average price of $19.09, for a total value of $808,346.96.
• On Wednesday, September 17th, Hayden Brown sold 20,000 shares of Upwork stock. The stock was sold at an average price of $18.00, for a total value of $360,000.00.

Upwork Price Performance

NASDAQ:UPWK opened at $19.58 on Thursday. The business’s 50-day simple moving average is $17.52 and its 200-day simple moving average is $15.58. Upwork Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $20.54. The stock has a market capitalization of $2.56 billion, a PE ratio of 11.19 and a beta of 1.57.

Upwork (NASDAQ:UPWK) last announced its earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). Upwork had a return on equity of 41.05% and a net margin of 31.63%.The company had revenue of $201.73 million for the quarter, compared to analyst estimates of $193.33 million. During the same quarter last year, the business posted $0.30 earnings per share. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Upwork has set its FY 2025 guidance at 1.350-1.370 EPS. Q4 2025 guidance at 0.310-0.330 EPS. On average, research analysts expect that Upwork Inc. will post 0.84 earnings per share for the current year.

Upwork announced that its board has initiated a stock buyback plan on Wednesday, September 3rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citizens Jmp reiterated a “market outperform” rating and set a $27.00 price objective on shares of Upwork in a report on Wednesday, November 19th. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 price target on shares of Upwork in a research note on Tuesday, November 4th. Wall Street Zen upgraded shares of Upwork from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Citigroup restated a “market outperform” rating on shares of Upwork in a report on Wednesday, November 19th. Finally, The Goldman Sachs Group raised their target price on shares of Upwork from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.92.

Hedge Funds Weigh In On Upwork

Institutional investors have recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC lifted its stake in Upwork by 8.0% in the second quarter. SeaCrest Wealth Management LLC now owns 10,800 shares of the company’s stock valued at $145,000 after acquiring an additional 800 shares during the last quarter. Raymond James Financial Inc. raised its holdings in shares of Upwork by 4.0% in the 3rd quarter. Raymond James Financial Inc. now owns 24,004 shares of the company’s stock valued at $446,000 after purchasing an additional 928 shares during the period. King Luther Capital Management Corp raised its holdings in shares of Upwork by 0.4% in the 2nd quarter. King Luther Capital Management Corp now owns 264,789 shares of the company’s stock valued at $3,559,000 after purchasing an additional 987 shares during the period. Straightline Group LLC lifted its stake in Upwork by 3.1% in the 3rd quarter. Straightline Group LLC now owns 38,302 shares of the company’s stock valued at $711,000 after purchasing an additional 1,159 shares during the last quarter. Finally, Clearstead Advisors LLC grew its holdings in Upwork by 998.4% during the third quarter. Clearstead Advisors LLC now owns 1,406 shares of the company’s stock worth $26,000 after purchasing an additional 1,278 shares during the period. 77.71% of the stock is currently owned by institutional investors and hedge funds.

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.