Upwork Inc. (NASDAQ:UPWK) Director Elizabeth A. Nelson Sells 75,000 Shares

Upwork Inc. (NASDAQ:UPWK) Director Elizabeth A. Nelson sold 75,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $10.54, for a total value of $790,500.00. Following the transaction, the director now directly owns 48,915 shares of the company’s stock, valued at $515,564.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Upwork Stock Performance

Shares of UPWK stock opened at $10.71 on Friday. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $16.36. The stock has a market cap of $1.43 billion, a PE ratio of 30.60 and a beta of 1.54. The stock has a fifty day moving average price of $10.30 and a 200 day moving average price of $11.10. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.00 and a current ratio of 3.00.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $193.13 million for the quarter, compared to analysts’ expectations of $193.05 million. Upwork had a net margin of 10.00% and a return on equity of 20.75%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.03) EPS. Sell-side analysts forecast that Upwork Inc. will post 0.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

UPWK has been the subject of a number of research analyst reports. Roth Mkm decreased their target price on Upwork from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, August 16th. The Goldman Sachs Group cut their target price on shares of Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group dropped their price objective on shares of Upwork from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Piper Sandler reduced their price objective on Upwork from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, Royal Bank of Canada lowered their target price on Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Upwork presently has a consensus rating of “Moderate Buy” and an average price target of $15.70.

Institutional Trading of Upwork

Several institutional investors and hedge funds have recently made changes to their positions in UPWK. Vanguard Group Inc. lifted its stake 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 valued at $196,115,000 after buying an additional 770,088 shares during the period. Divisadero Street Capital Management LP boosted its holdings in shares of Upwork by 32.9% during the second quarter. Divisadero Street Capital Management LP now owns 3,320,912 shares of the company’s stock worth $35,700,000 after purchasing an additional 822,518 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Upwork by 239.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock worth $33,491,000 after purchasing an additional 1,589,693 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Upwork by 27.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,806,969 shares of the company’s stock valued at $19,424,000 after purchasing an additional 389,006 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Upwork by 71.0% in the second quarter. Acadian Asset Management LLC now owns 1,635,602 shares of the company’s stock valued at $17,572,000 after purchasing an additional 679,028 shares during the last quarter. 77.71% of the stock is currently owned by hedge funds and other 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.