Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert Sells 13,765 Shares

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 13,765 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value of $222,304.75. Following the completion of the sale, the chief financial officer now owns 156,828 shares in the company, valued at approximately $2,532,772.20. This represents a 8.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, December 18th, Erica Gessert sold 4,279 shares of Upwork stock. The shares were sold at an average price of $17.11, for a total value of $73,213.69.

Upwork Stock Performance

Shares of Upwork stock opened at $16.76 on Friday. The stock has a market cap of $2.27 billion, a PE ratio of 10.95 and a beta of 1.57. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $18.14. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $16.32 and a 200-day simple moving average of $13.61.

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

Institutional Trading of Upwork

A number of institutional investors have recently bought and sold shares of UPWK. Price T Rowe Associates Inc. MD lifted its position in shares of Upwork by 51.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock worth $253,405,000 after buying an additional 5,289,493 shares during the last quarter. Invesco Ltd. raised its holdings in Upwork by 1,674.0% in the 4th quarter. Invesco Ltd. now owns 1,748,320 shares of the company’s stock valued at $28,585,000 after acquiring an additional 1,649,766 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Upwork by 86.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company’s stock valued at $54,005,000 after acquiring an additional 1,534,078 shares in the last quarter. Contour Asset Management LLC acquired a new position in Upwork in the 4th quarter valued at approximately $24,633,000. Finally, LSV Asset Management bought a new stake in shares of Upwork in the 4th quarter valued at approximately $18,838,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on UPWK shares. Needham & Company LLC lifted their price target on Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. The Goldman Sachs Group lifted their price target on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. UBS Group lifted their price target on Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Canaccord Genuity Group lifted their price target on Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Citigroup lifted their price target on Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.91.

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.