Dave Bottoms Sells 1,396 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK - Get Free Report) VP Dave Bottoms sold 1,396 shares of Upwork stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $15.13, for a total value of $21,121.48. Following the completion of the sale, the vice president now owns 2,354 shares of the company's stock, valued at $35,616.02. This trade represents a 37.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, November 15th, Dave Bottoms sold 983 shares of Upwork stock. The stock was sold at an average price of $14.94, for a total transaction of $14,686.02.
• On Friday, November 8th, Dave Bottoms sold 10,508 shares of Upwork stock. The shares were sold at an average price of $15.86, for a total transaction of $166,656.88.
• On Wednesday, September 18th, Dave Bottoms sold 5,626 shares of Upwork stock. The stock was sold at an average price of $10.57, for a total value of $59,466.82.
• On Tuesday, August 27th, Dave Bottoms sold 5,818 shares of Upwork stock. The stock was sold at an average price of $9.81, for a total value of $57,074.58.

Upwork Stock Up 0.8 %

NASDAQ UPWK traded up $0.12 during mid-day trading on Wednesday, reaching $15.05. 521,659 shares of the company's stock traded hands, compared to its average volume of 2,170,744. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $17.79. The company has a fifty day simple moving average of $11.94 and a 200-day simple moving average of $11.15. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 23.70 and a beta of 1.49.

Upwork (NASDAQ:UPWK - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. The business had revenue of $193.78 million during the quarter, compared to the consensus estimate of $185.55 million. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.12 earnings per share. As a group, equities research analysts expect that Upwork Inc. will post 0.65 EPS for the current year.

Institutional Trading of Upwork

Several hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV raised its holdings in shares of Upwork by 45.4% during the third quarter. KBC Group NV now owns 4,791 shares of the company's stock valued at $50,000 after buying an additional 1,497 shares during the last quarter. ProShare Advisors LLC increased its position in Upwork by 8.6% in the 1st quarter. ProShare Advisors LLC now owns 22,483 shares of the company's stock valued at $276,000 after acquiring an additional 1,771 shares during the period. Quarry LP boosted its position in Upwork by 42.6% during the 3rd quarter. Quarry LP now owns 6,201 shares of the company's stock worth $65,000 after acquiring an additional 1,851 shares during the period. Federated Hermes Inc. increased its holdings in shares of Upwork by 0.6% during the second quarter. Federated Hermes Inc. now owns 318,659 shares of the company's stock valued at $3,426,000 after purchasing an additional 1,996 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Upwork by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 66,809 shares of the company's stock valued at $718,000 after purchasing an additional 2,063 shares during the period. 77.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on UPWK shares. UBS Group reduced their price objective on Upwork from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Piper Sandler reiterated an "overweight" rating and set a $18.00 price objective (up from $13.00) on shares of Upwork in a research note on Thursday, November 7th. Canaccord Genuity Group increased their price objective on shares of Upwork from $15.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Roth Mkm upped their price target on shares of Upwork from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Citigroup cut their price objective on Upwork from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $17.00.

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.