Upwork Inc. (NASDAQ:UPWK) CEO Sells $438,342.04 in Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 26,438 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $16.58, for a total transaction of $438,342.04. Following the completion of the transaction, the chief executive officer now owns 1,130,791 shares of the company’s stock, valued at approximately $18,748,514.78. The trade was a 2.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, May 15th, Hayden Brown sold 60,000 shares of Upwork stock. The shares were sold at an average price of $17.16, for a total value of $1,029,600.00.
• On Monday, May 12th, Hayden Brown sold 20,000 shares of Upwork stock. The shares were sold at an average price of $17.09, for a total value of $341,800.00.
• On Wednesday, May 7th, Hayden Brown sold 40,000 shares of Upwork stock. The stock was sold at an average price of $15.92, for a total transaction of $636,800.00.
• On Tuesday, March 18th, Hayden Brown sold 9,075 shares of Upwork stock. The stock was sold at an average price of $13.07, for a total value of $118,610.25.
• On Friday, March 7th, Hayden Brown sold 60,000 shares of Upwork stock. The shares were sold at an average price of $14.20, for a total value of $852,000.00.
• On Tuesday, February 18th, Hayden Brown sold 21,122 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total transaction of $341,120.30.

Upwork Stock Down 0.5%

Shares of Upwork stock opened at $16.46 on Wednesday. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 10.76 and a beta of 1.52. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. The business’s 50 day simple moving average is $13.87 and its 200-day simple moving average is $15.25.

Upwork (NASDAQ:UPWK) last posted its earnings results on Monday, May 5th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.25 by $0.09. The firm had revenue of $192.71 million during the quarter, compared to analysts’ expectations of $188.49 million. Upwork had a net margin of 28.02% and a return on equity of 50.83%. Upwork’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. Equities research analysts forecast that Upwork Inc. will post 0.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on UPWK shares. JMP Securities increased their target price on Upwork from $18.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, May 16th. Roth Mkm cut 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. Scotiabank initiated coverage on shares of Upwork in a research report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of Upwork in a report on Tuesday, May 6th. Finally, UBS Group raised their price objective on shares of Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.67.

Hedge Funds Weigh In On Upwork

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in shares of Upwork during the fourth quarter valued at $97,000. KBC Group NV raised its holdings in Upwork by 39.6% during the 4th quarter. KBC Group NV now owns 6,690 shares of the company’s stock worth $109,000 after buying an additional 1,899 shares during the period. Stoneridge Investment Partners LLC lifted its stake in Upwork by 19.9% during the fourth quarter. Stoneridge Investment Partners LLC now owns 16,566 shares of the company’s stock valued at $271,000 after buying an additional 2,744 shares in the last quarter. Bristlecone Advisors LLC boosted its holdings in shares of Upwork by 54.9% in the fourth quarter. Bristlecone Advisors LLC now owns 65,113 shares of the company’s stock worth $1,065,000 after buying an additional 23,090 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Upwork by 1.4% in the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock worth $2,914,000 after buying an additional 2,387 shares during the period. 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.