Upwork Inc. (NASDAQ:UPWK) Insider Sells $70,721.77 in Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 5,411 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total value of $70,721.77. Following the completion of the sale, the insider now owns 9,593 shares of the company’s stock, valued at $125,380.51. The trade was a 36.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Dave Bottoms also recently made the following trade(s):

• On Tuesday, February 18th, Dave Bottoms sold 1,543 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total value of $24,919.45.

Upwork Stock Performance

Shares of UPWK opened at $13.57 on Friday. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The company has a market cap of $1.84 billion, a PE ratio of 8.87 and a beta of 1.61. The stock has a 50-day moving average of $15.39 and a 200-day moving average of $14.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 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, equities research analysts predict that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. increased its position in shares of Upwork by 133.5% during the third quarter. Victory Capital Management Inc. now owns 116,899 shares of the company’s stock worth $1,222,000 after acquiring an additional 66,842 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Upwork by 40.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company’s stock valued at $2,630,000 after purchasing an additional 73,104 shares during the last quarter. Verition Fund Management LLC bought a new stake in Upwork during the 3rd quarter worth approximately $8,369,000. Point72 Asset Management L.P. raised its stake in shares of Upwork by 2,216.8% in the third quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company’s stock worth $5,263,000 after purchasing an additional 481,942 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Upwork by 72.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 205,200 shares of the company’s stock valued at $2,144,000 after purchasing an additional 86,200 shares in the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on UPWK. Roth Mkm lowered their price objective on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Scotiabank assumed coverage on shares of Upwork in a report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price target for the company. Citigroup upped their price objective on shares of Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Jefferies Financial Group lifted their target price on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, UBS Group upped their price target on shares of Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Four 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 an average target price of $18.58.

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.