Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown Sells 20,000 Shares

Upwork Inc. (NASDAQ:UPWK - Get Free Report) CEO Hayden Brown sold 20,000 shares of Upwork stock in a transaction on Monday, December 16th. The stock was sold at an average price of $16.84, for a total transaction of $336,800.00. Following the transaction, the chief executive officer now directly owns 1,229,420 shares of the company's stock, valued at $20,703,432.80. This represents a 1.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, December 18th, Hayden Brown sold 8,997 shares of Upwork stock. The stock was sold at an average price of $17.12, for a total value of $154,028.64.
• On Wednesday, November 27th, Hayden Brown sold 15,000 shares of Upwork stock. The shares were sold at an average price of $17.00, for a total value of $255,000.00.
• On Monday, November 18th, Hayden Brown sold 30,672 shares of Upwork stock. The stock was sold at an average price of $15.13, for a total value of $464,067.36.
• On Friday, November 8th, Hayden Brown sold 10,000 shares of Upwork stock. The stock was sold at an average price of $15.85, for a total value of $158,500.00.

Upwork Stock Down 2.7 %

Shares of Upwork stock traded down $0.46 on Wednesday, hitting $16.58. The company had a trading volume of 5,144,406 shares, compared to its average volume of 2,168,097. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 26.32 and a beta of 1.58. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.18 and a current ratio of 3.18. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14. The stock has a 50 day moving average of $14.53 and a 200-day moving average of $11.88.

Upwork (NASDAQ:UPWK - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. The firm had revenue of $193.78 million for 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 revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 EPS. As a group, sell-side analysts forecast that Upwork Inc. will post 0.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on UPWK. The Goldman Sachs Group lifted their price objective on shares of Upwork from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. JMP Securities upped their price objective on shares of Upwork from $14.00 to $18.00 and gave the company a "market outperform" rating in a report on Thursday, November 7th. UBS Group raised their target price on Upwork from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Citigroup boosted their target price on Upwork from $11.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, November 29th. Finally, BTIG Research increased their price target on Upwork from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $18.36.

Institutional Investors Weigh In On Upwork

A number of institutional investors have recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP increased its position in shares of Upwork by 32.9% during the 2nd quarter. Divisadero Street Capital Management LP now owns 3,320,912 shares of the company's stock valued at $35,700,000 after purchasing an additional 822,518 shares during the last quarter. Invenomic Capital Management LP raised its position in Upwork by 12.5% in the third quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company's stock worth $24,397,000 after acquiring an additional 260,274 shares during the period. Dimensional Fund Advisors LP boosted its stake in Upwork by 27.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,806,969 shares of the company's stock valued at $19,424,000 after acquiring an additional 389,006 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Upwork by 71.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,635,602 shares of the company's stock valued at $17,572,000 after acquiring an additional 679,028 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Upwork by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,011,508 shares of the company's stock worth $10,570,000 after purchasing an additional 14,680 shares during the last quarter. 77.71% of the stock is owned by institutional investors.

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.

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