Upwork Inc. (NASDAQ:UPWK) CEO Sells $99,823.08 in Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 9,444 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $10.57, for a total transaction of $99,823.08. Following the completion of the sale, the chief executive officer now directly owns 1,178,850 shares of the company’s stock, valued at $12,460,444.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, September 16th, Hayden Brown sold 20,000 shares of Upwork stock. The stock was sold at an average price of $10.01, for a total value of $200,200.00.
• 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 Stock Up 3.2 %

Shares of NASDAQ:UPWK opened at $10.77 on Friday. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $16.36. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.99. The firm’s 50-day simple moving average is $10.31 and its 200-day simple moving average is $11.11. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 30.77 and a beta of 1.54.

Upwork (NASDAQ:UPWK) last announced 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. Upwork had a net margin of 10.00% and a return on equity of 20.75%. The firm had revenue of $193.13 million during the quarter, compared to the consensus estimate of $193.05 million. During the same quarter last year, the firm earned ($0.03) earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts predict that Upwork Inc. will post 0.51 earnings per share for the current year.

Institutional Trading of Upwork

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

Wall Street Analyst Weigh In

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