Insider Selling: Upwork Inc. (NASDAQ:UPWK) VP Sells 2,379 Shares of Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 2,379 shares of Upwork stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $11.73, for a total transaction of $27,905.67. Following the completion of the sale, the vice president now directly owns 2,326 shares in the company, valued at approximately $27,283.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

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

Upwork Price Performance

NASDAQ:UPWK opened at $11.10 on Friday. Upwork Inc. has a 52-week low of $7.54 and a 52-week high of $16.36. The stock has a fifty day moving average of $11.91 and a 200 day moving average of $13.30. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.93 and a current ratio of 2.93. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 31.72 and a beta of 1.66.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Upwork had a return on equity of 13.96% and a net margin of 6.70%. The firm had revenue of $190.94 million during the quarter, compared to the consensus estimate of $186.71 million. On average, research analysts expect that Upwork Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Royal Bank of Canada dropped their price target on Upwork from $18.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 2nd. UBS Group increased their target price on shares of Upwork from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. 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. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Upwork in a research note on Wednesday, May 15th. Finally, JMP Securities lifted their price objective on shares of Upwork from $16.00 to $17.00 and gave the company a “market outperform” rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.80.

Institutional Investors Weigh In On Upwork

Several hedge funds have recently bought and sold shares of UPWK. Quadrant Capital Group LLC raised its position in shares of Upwork by 67.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock valued at $30,000 after buying an additional 803 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in Upwork in the fourth quarter valued at $33,000. Headlands Technologies LLC purchased a new stake in Upwork during the first quarter valued at about $49,000. Essex Investment Management Co. LLC lifted its stake in Upwork by 56.2% during the first quarter. Essex Investment Management Co. LLC now owns 4,724 shares of the company’s stock worth $58,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Shell Asset Management Co. boosted its holdings in shares of Upwork by 193.6% in the 1st quarter. Shell Asset Management Co. now owns 8,570 shares of the company’s stock worth $105,000 after purchasing an additional 5,651 shares in the last quarter. 77.71% of the stock is currently 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.