Upwork Inc. (NASDAQ:UPWK) CEO Sells $200,200.00 in Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 20,000 shares of Upwork stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $10.01, for a total value of $200,200.00. Following the completion of the sale, the chief executive officer now owns 1,170,561 shares in the company, valued at $11,717,315.61. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, September 18th, Hayden Brown sold 9,444 shares of Upwork stock. The stock was sold at an average price of $10.57, for a total value of $99,823.08.
• On Monday, August 19th, Hayden Brown sold 31,506 shares of Upwork stock. The shares were sold at an average price of $9.65, for a total value of $304,032.90.

Upwork Trading Down 0.1 %

UPWK traded down $0.01 during trading hours on Wednesday, reaching $10.44. The company’s stock had a trading volume of 2,056,574 shares, compared to its average volume of 2,135,409. The stock has a market cap of $1.38 billion, a PE ratio of 30.29 and a beta of 1.54. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $16.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.00 and a quick ratio of 3.00. The business’s 50-day moving average is $10.33 and its 200-day moving average is $11.12.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. The business had revenue of $193.13 million for the quarter, compared to analyst estimates of $193.05 million. Upwork had a return on equity of 20.75% and a net margin of 10.00%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.03) EPS. As a group, equities research analysts predict that Upwork Inc. will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Upwork

Institutional investors have recently made changes to their positions in the stock. New Century Financial Group LLC purchased a new position in shares of Upwork during the 1st quarter worth approximately $1,083,000. Vanguard Group Inc. boosted its position in shares of Upwork by 5.1% during the first quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock worth $196,115,000 after buying an additional 770,088 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Upwork by 239.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock valued at $33,491,000 after buying an additional 1,589,693 shares in the last quarter. Csenge Advisory Group purchased a new stake in shares of Upwork in the 1st quarter valued at $1,344,000. Finally, Edgestream Partners L.P. acquired a new position in Upwork during the 1st quarter worth about $3,165,000. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UPWK has been the subject of a number of research reports. Canaccord Genuity Group dropped their target price on shares of Upwork from $19.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. UBS Group dropped their price objective on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group decreased their target price on shares of Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada dropped their price target on Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Finally, Roth Mkm cut their price target on Upwork from $19.00 to $13.00 and set a “buy” rating for the company in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.70.

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.