Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms Sells 1,543 Shares

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 1,543 shares of Upwork stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value of $24,919.45. Following the sale, the vice president now directly owns 2,207 shares in the company, valued at $35,643.05. The trade was a 41.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, December 18th, Dave Bottoms sold 5,360 shares of Upwork stock. The stock was sold at an average price of $17.11, for a total transaction of $91,709.60.

Upwork Stock Performance

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

Upwork (NASDAQ:UPWK) last posted its earnings results on Wednesday, February 12th. The company reported $1.03 EPS 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%. Analysts forecast that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on UPWK. Needham & Company LLC lifted their target price on Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $18.00 target price on shares of Upwork in a report on Thursday, January 30th. Jefferies Financial Group raised their price target on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Canaccord Genuity Group upped their price objective on shares of Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Piper Sandler restated an “overweight” rating and issued a $18.00 target price (up previously from $13.00) on shares of Upwork in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.91.

Institutional Investors Weigh In On Upwork

Several institutional investors have recently bought and sold shares of the stock. KBC Group NV boosted its stake in shares of Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after buying an additional 1,497 shares during the last quarter. Quarry LP grew its stake in Upwork by 42.6% in the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after purchasing an additional 1,851 shares during the period. Citizens Financial Group Inc. RI increased its position in shares of Upwork by 18.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company’s stock valued at $143,000 after purchasing an additional 2,129 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Upwork by 3.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 67,716 shares of the company’s stock valued at $1,107,000 after buying an additional 2,148 shares during the period. Finally, Rhumbline Advisers increased its holdings in Upwork by 1.4% during the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock worth $2,914,000 after buying an additional 2,387 shares during the last quarter. 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.