Upwork Inc. (NASDAQ:UPWK - Get Free Report)'s stock price was down 8% during mid-day trading on Thursday . The company traded as low as $12.54 and last traded at $12.48. Approximately 879,301 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 2,556,794 shares. The stock had previously closed at $13.56.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on UPWK shares. Royal Bank of Canada upped their price objective on shares of Upwork from $16.00 to $18.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. Jefferies Financial Group upped their price objective on shares of Upwork from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Scotiabank started coverage on shares of Upwork in a report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price objective for the company. Roth Mkm decreased their price objective 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. Finally, Citigroup upped their price objective on shares of Upwork from $11.00 to $19.00 and gave the stock a "neutral" rating in a report on Friday, November 29th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.58.
Get Our Latest Analysis on UPWK
Upwork Price Performance
The stock's 50-day moving average price is $15.65 and its 200 day moving average price is $14.20. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 8.55 and a beta of 1.61. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62.
Upwork (NASDAQ:UPWK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 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%. Equities research analysts predict that Upwork Inc. will post 0.84 earnings per share for the current year.
Insider Buying and Selling
In other Upwork news, CEO Hayden Brown sold 60,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $14.20, for a total transaction of $852,000.00. Following the sale, the chief executive officer now directly owns 1,215,083 shares of the company's stock, valued at approximately $17,254,178.60. This represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Erica Gessert sold 4,279 shares of the company's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total transaction of $73,213.69. Following the sale, the chief financial officer now directly owns 133,093 shares in the company, valued at $2,277,221.23. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 268,187 shares of company stock valued at $4,432,413 over the last quarter. Corporate insiders own 7.60% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC bought a new stake in shares of Upwork during the third quarter worth $858,000. Victory Capital Management Inc. lifted its position in Upwork by 133.5% during the 3rd quarter. Victory Capital Management Inc. now owns 116,899 shares of the company's stock valued at $1,222,000 after purchasing an additional 66,842 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Upwork by 40.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company's stock valued at $2,630,000 after purchasing an additional 73,104 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Upwork during the third quarter worth approximately $8,369,000. Finally, Point72 Asset Management L.P. raised its stake in shares of Upwork by 2,216.8% during the third quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company's stock worth $5,263,000 after buying an additional 481,942 shares during the last quarter. Institutional investors own 77.71% of the company's stock.
About Upwork
(
Get Free Report)
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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