Upwork Inc. (NASDAQ:UPWK) Director Elizabeth A. Nelson Sells 75,000 Shares

Upwork Inc. (NASDAQ:UPWK - Get Free Report) Director Elizabeth A. Nelson sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $17.58, for a total value of $1,318,500.00. Following the transaction, the director now owns 16,299 shares of the company's stock, valued at approximately $286,536.42. This trade represents a 82.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Upwork Price Performance

Shares of NASDAQ UPWK traded up $0.03 during midday trading on Tuesday, reaching $15.75. 1,953,890 shares of the stock traded hands, compared to its average volume of 2,690,893. The company's 50 day moving average is $16.27 and its 200 day moving average is $13.73. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. The stock has a market capitalization of $2.13 billion, a PE ratio of 10.29 and a beta of 1.57.

Upwork (NASDAQ:UPWK - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. On average, equities research analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current year.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV raised its position 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 period. CWM LLC raised its holdings in Upwork by 71.9% during the 3rd quarter. CWM LLC now owns 5,896 shares of the company's stock valued at $62,000 after buying an additional 2,467 shares during the period. Quarry LP raised its holdings in Upwork by 42.6% during 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. Nkcfo LLC bought a new stake in Upwork in the fourth quarter worth $82,000. Finally, SBI Securities Co. Ltd. purchased a new position in Upwork during the fourth quarter worth $84,000. Hedge funds and other institutional investors own 77.71% of the company's stock.

Analysts Set New Price Targets

UPWK has been the topic of several recent analyst reports. BTIG Research raised their price objective on shares of Upwork from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Needham & Company LLC raised their price target on Upwork from $17.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Canaccord Genuity Group boosted their price objective on Upwork from $15.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their target price on Upwork from $16.00 to $18.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group lifted their target price on Upwork from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.91.

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.