Upwork Inc. (NASDAQ:UPWK) CEO Sells $118,610.25 in Stock

Upwork Inc. (NASDAQ:UPWK - Get Free Report) CEO Hayden Brown sold 9,075 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total value of $118,610.25. Following the completion of the sale, the chief executive officer now directly owns 1,223,741 shares of the company's stock, valued at $15,994,294.87. The trade was a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, March 7th, Hayden Brown sold 60,000 shares of Upwork stock. The stock was sold at an average price of $14.20, for a total value of $852,000.00.
• On Tuesday, February 18th, Hayden Brown sold 21,122 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total value of $341,120.30.

Upwork Stock Up 1.7 %

Shares of Upwork stock traded up $0.23 on Monday, hitting $13.80. 1,387,535 shares of the company's stock traded hands, compared to its average volume of 2,210,133. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1.87 billion, a P/E ratio of 9.02 and a beta of 1.61. The firm's 50-day moving average is $15.39 and its 200 day moving average is $14.33.

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Upwork (NASDAQ:UPWK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share 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%. Equities analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current year.

Institutional Investors Weigh In On Upwork

A number of institutional investors have recently made changes to their positions in the company. KBC Group NV increased its stake in 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 purchasing an additional 1,497 shares during the last quarter. Quarry LP boosted its holdings in shares of 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 buying an additional 1,851 shares during the period. Citizens Financial Group Inc. RI grew 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 buying an additional 2,129 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Upwork by 3.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 67,716 shares of the company's stock worth $1,107,000 after acquiring an additional 2,148 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Upwork by 1.4% in the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company's stock worth $2,914,000 after acquiring an additional 2,387 shares during the last quarter. 77.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on UPWK. Jefferies Financial Group raised their target price on Upwork from $19.00 to $20.00 and gave the company a "buy" rating in a report on Monday, January 6th. UBS Group boosted their price objective on shares of Upwork from $18.00 to $19.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Roth Mkm dropped their target price on shares of Upwork from $20.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Citigroup boosted their price target on Upwork from $11.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, November 29th. Finally, Needham & Company LLC raised their price objective on Upwork from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.