Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms Sells 5,684 Shares

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 5,684 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $10.22, for a total transaction of $58,090.48. Following the transaction, the vice president now directly owns 9,319 shares in the company, valued at $95,240.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, May 29th, Dave Bottoms sold 1,163 shares of Upwork stock. The stock was sold at an average price of $10.79, for a total transaction of $12,548.77.
• On Monday, May 20th, Dave Bottoms sold 2,379 shares of Upwork stock. The stock was sold at an average price of $11.73, for a total transaction of $27,905.67.
• On Friday, May 3rd, Dave Bottoms sold 2,843 shares of Upwork stock. The stock was sold at an average price of $13.22, for a total transaction of $37,584.46.

Upwork Stock Performance

Shares of UPWK opened at $10.48 on Monday. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 1.02. The stock has a market cap of $1.40 billion, a P/E ratio of 29.94 and a beta of 1.56. The company has a 50-day moving average of $11.27 and a two-hundred day moving average of $12.81. Upwork Inc. has a 12-month low of $8.49 and a 12-month high of $16.36.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $190.94 million during the quarter, compared to the consensus estimate of $186.71 million. Upwork had a net margin of 6.70% and a return on equity of 13.96%. As a group, research analysts predict that Upwork Inc. will post 0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Upwork

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Upwork by 5.1% during the third quarter. Vanguard Group Inc. now owns 14,565,252 shares of the company’s stock worth $165,461,000 after buying an additional 702,595 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Upwork by 120.8% in the fourth quarter. BNP Paribas Financial Markets now owns 526,984 shares of the company’s stock valued at $7,836,000 after purchasing an additional 288,330 shares during the period. Graham Capital Management L.P. grew its holdings in Upwork by 143.1% in the third quarter. Graham Capital Management L.P. now owns 115,738 shares of the company’s stock valued at $1,315,000 after purchasing an additional 68,124 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Upwork by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 956,370 shares of the company’s stock valued at $10,864,000 after purchasing an additional 43,081 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in Upwork in the fourth quarter valued at approximately $771,000. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on UPWK. BTIG Research upgraded shares of Upwork from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, May 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Upwork in a research note on Wednesday, May 15th. Roth Mkm reiterated a “buy” rating and issued a $19.00 price objective on shares of Upwork in a research note on Wednesday, May 15th. Finally, Royal Bank of Canada reduced their price objective on shares of Upwork from $18.00 to $15.00 and set a “sector perform” rating for the company in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Upwork currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.80.

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.