Upwork Inc. (NASDAQ:UPWK) CEO Sells $99,823.08 in Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 9,444 shares of Upwork stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $10.57, for a total value of $99,823.08. Following the completion of the sale, the chief executive officer now directly owns 1,178,850 shares in the company, valued at approximately $12,460,444.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, September 16th, Hayden Brown sold 20,000 shares of Upwork stock. The stock was sold at an average price of $10.01, for a total value of $200,200.00.
• On Monday, August 19th, Hayden Brown sold 31,506 shares of Upwork stock. The stock was sold at an average price of $9.65, for a total value of $304,032.90.

Upwork Trading Down 0.1 %

UPWK traded down $0.01 during trading hours on Wednesday, reaching $10.44. 2,056,574 shares of the company’s stock traded hands, compared to its average volume of 2,135,409. The firm has a 50-day moving average price of $10.33 and a 200 day moving average price of $11.12. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $16.36. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $1.38 billion, a PE ratio of 30.29 and a beta of 1.54.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Upwork had a return on equity of 20.75% and a net margin of 10.00%. The company had revenue of $193.13 million during the quarter, compared to analysts’ expectations of $193.05 million. During the same quarter in the previous year, the business earned ($0.03) EPS. Upwork’s revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts predict that Upwork Inc. will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Upwork

Several hedge funds have recently made changes to their positions in the company. Quarry LP lifted its holdings in shares of Upwork by 104.2% in the 2nd quarter. Quarry LP now owns 4,350 shares of the company’s stock worth $47,000 after buying an additional 2,220 shares during the period. Algert Global LLC lifted its holdings in shares of Upwork by 322.9% in the 2nd quarter. Algert Global LLC now owns 199,952 shares of the company’s stock worth $2,149,000 after buying an additional 152,668 shares during the period. SkyView Investment Advisors LLC lifted its holdings in shares of Upwork by 6.6% in the 2nd quarter. SkyView Investment Advisors LLC now owns 198,736 shares of the company’s stock worth $2,136,000 after buying an additional 12,343 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Upwork in the 2nd quarter worth $1,637,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Upwork by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,809 shares of the company’s stock worth $718,000 after buying an additional 2,063 shares during the period. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on UPWK. The Goldman Sachs Group reduced their price objective on Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Roth Mkm cut their target price on Upwork from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Piper Sandler cut their target price on Upwork from $20.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. UBS Group cut their target price on Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group cut their target price on Upwork from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Upwork presently has a consensus rating of “Moderate Buy” and an average price target of $15.70.

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.