Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert Sells 4,316 Shares

Upwork Inc. (NASDAQ:UPWK - Get Free Report) CFO Erica Gessert sold 4,316 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total transaction of $56,410.12. Following the sale, the chief financial officer now owns 160,945 shares of the company's stock, valued at $2,103,551.15. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Erica Gessert also recently made the following trade(s):

• On Tuesday, February 18th, Erica Gessert sold 13,765 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total transaction of $222,304.75.

Upwork Price Performance

UPWK traded up $0.23 on Monday, reaching $13.80. The company had a trading volume of 1,387,535 shares, compared to its average volume of 2,210,133. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 9.02 and a beta of 1.61. The business has a 50 day simple moving average of $15.39 and a 200 day simple moving average of $14.33.

Upwork (NASDAQ:UPWK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. As a group, sell-side analysts anticipate that Upwork Inc. will post 0.84 EPS for the current year.

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Institutional Trading of Upwork

Several hedge funds have recently added to or reduced their stakes in UPWK. KBC Group NV increased its holdings in shares of Upwork by 45.4% in the third quarter. KBC Group NV now owns 4,791 shares of the company's stock worth $50,000 after buying an additional 1,497 shares during the period. Quarry LP grew 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 last quarter. Nkcfo LLC purchased a new position in Upwork in the 4th quarter worth approximately $82,000. SBI Securities Co. Ltd. purchased a new stake in shares of Upwork during the fourth quarter valued at approximately $84,000. Finally, Financial Management Professionals Inc. bought a new position in shares of Upwork in the fourth quarter worth approximately $97,000. 77.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on UPWK. Needham & Company LLC raised their target price on Upwork from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. JMP Securities reissued a "market outperform" rating and issued a $18.00 price objective on shares of Upwork in a report on Thursday, January 30th. Jefferies Financial Group upped their price objective on shares of Upwork from $19.00 to $20.00 and gave the company a "buy" rating in a report on Monday, January 6th. Scotiabank began coverage on shares of Upwork in a research note on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 target price for the company. Finally, UBS Group upped their price target on shares of Upwork from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Upwork has a consensus rating of "Moderate Buy" and an average target price of $18.58.

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.