Upwork Inc. (NASDAQ:UPWK) CEO Sells $118,610.25 in Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 9,075 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $118,610.25. Following the sale, the chief executive officer now directly owns 1,223,741 shares of the company’s stock, valued at $15,994,294.87. This trade represents a 0.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, March 7th, Hayden Brown sold 60,000 shares of Upwork stock. The shares were sold at an average price of $14.20, for a total transaction of $852,000.00.
• On Tuesday, February 18th, Hayden Brown sold 21,122 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total transaction of $341,120.30.

Upwork Stock Performance

Shares of Upwork stock traded up $0.03 on Thursday, hitting $13.45. 1,381,989 shares of the company’s stock were exchanged, compared to its average volume of 2,210,246. The company has a 50-day simple moving average of $15.48 and a 200-day simple moving average of $14.24. The stock has a market capitalization of $1.82 billion, a PE ratio of 8.79 and a beta of 1.61. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. As a group, equities analysts anticipate that Upwork Inc. will post 0.84 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on UPWK. Needham & Company LLC raised their price target on shares of Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Scotiabank began coverage on shares of Upwork in a research report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price target for the company. JMP Securities reissued a “market outperform” rating and set a $18.00 price target on shares of Upwork in a research report on Thursday, January 30th. Citigroup raised their target price on shares of Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Finally, UBS Group raised their target price on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.58.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of UPWK. Price T Rowe Associates Inc. MD boosted its stake in shares of Upwork by 51.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock worth $253,405,000 after acquiring an additional 5,289,493 shares during the last quarter. Invesco Ltd. raised its position in shares of Upwork by 1,674.0% during the 4th quarter. Invesco Ltd. now owns 1,748,320 shares of the company’s stock valued at $28,585,000 after purchasing an additional 1,649,766 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Upwork by 86.7% during 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 purchasing an additional 1,534,078 shares during the period. Contour Asset Management LLC bought a new stake in shares of Upwork during the 4th quarter valued at $24,633,000. Finally, LSV Asset Management bought a new stake in shares of Upwork during the 4th quarter valued at $18,838,000. Hedge funds and other institutional investors own 77.71% of the company’s stock.

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.