Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert Sells 4,316 Shares

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 4,316 shares of the firm’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 $56,410.12. Following the completion of the transaction, the chief financial officer now directly owns 160,945 shares in the company, valued at $2,103,551.15. The trade was a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Erica Gessert also recently made the following trade(s):

• On Tuesday, February 18th, Erica Gessert sold 13,765 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total value of $222,304.75.

Upwork Stock Up 0.2 %

Shares of Upwork stock traded up $0.03 during trading hours on Thursday, reaching $13.45. 1,381,989 shares of the company’s stock were exchanged, compared to its average volume of 2,210,246. The company has a 50 day moving average of $15.43 and a two-hundred day moving average of $14.24. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week 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 stock has a market cap of $1.82 billion, a P/E ratio of 8.79 and a beta of 1.61.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. On average, sell-side analysts forecast that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on UPWK. UBS Group upped their target price 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. Roth Mkm decreased their price objective on Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Citigroup lifted their price objective on Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Scotiabank began coverage on Upwork in a report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price objective on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $18.00 price objective on shares of Upwork in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Upwork presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.58.

Institutional Investors Weigh In On Upwork

Institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Upwork by 133.5% in the 3rd quarter. Victory Capital Management Inc. now owns 116,899 shares of the company’s stock valued at $1,222,000 after purchasing an additional 66,842 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Upwork by 40.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company’s stock valued at $2,630,000 after purchasing an additional 73,104 shares during the period. Verition Fund Management LLC bought a new stake in shares of Upwork in the 3rd quarter valued at about $8,369,000. Point72 Asset Management L.P. raised its holdings in Upwork by 2,216.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company’s stock valued at $5,263,000 after acquiring an additional 481,942 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Upwork by 72.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 205,200 shares of the company’s stock valued at $2,144,000 after acquiring an additional 86,200 shares during the period. 77.71% of the stock is owned by institutional investors.

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.