Upwork Inc. (NASDAQ:UPWK) VP Sells $58,090.48 in Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 5,684 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $10.22, for a total value of $58,090.48. Following the sale, the vice president now owns 9,319 shares of the company’s stock, valued at approximately $95,240.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Dave Bottoms also recently made the following trade(s):

• On Wednesday, May 29th, Dave Bottoms sold 1,163 shares of Upwork stock. The stock was sold at an average price of $10.79, for a total value of $12,548.77.
• On Monday, May 20th, Dave Bottoms sold 2,379 shares of Upwork stock. The stock was sold at an average price of $11.73, for a total value of $27,905.67.
• On Friday, May 3rd, Dave Bottoms sold 2,843 shares of Upwork stock. The stock was sold at an average price of $13.22, for a total value of $37,584.46.

Upwork Price Performance

Shares of NASDAQ UPWK opened at $10.66 on Thursday. The firm has a market capitalization of $1.42 billion, a P/E ratio of 30.46 and a beta of 1.56. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 1.02. The stock’s 50-day simple moving average is $11.23 and its two-hundred day simple moving average is $12.75. Upwork Inc. has a twelve month low of $8.49 and a twelve month high of $16.36.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. The firm had revenue of $190.94 million for the quarter, compared to analyst estimates of $186.71 million. Upwork had a return on equity of 13.96% and a net margin of 6.70%. As a group, equities analysts anticipate that Upwork Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on UPWK shares. Royal Bank of Canada dropped their price target on Upwork from $18.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Upwork in a research report on Wednesday, May 15th. Roth Mkm reaffirmed a “buy” rating and set a $19.00 price target on shares of Upwork in a research report on Wednesday, May 15th. Finally, BTIG Research raised Upwork from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.80.

Hedge Funds Weigh In On Upwork

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Upwork by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock valued at $196,115,000 after purchasing an additional 770,088 shares during the last quarter. Financial Gravity Asset Management Inc. boosted its holdings in Upwork by 2,216.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 3,893,556 shares of the company’s stock valued at $44,231,000 after acquiring an additional 3,725,442 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Upwork by 239.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock valued at $33,491,000 after acquiring an additional 1,589,693 shares during the period. Mak Capital One LLC purchased a new stake in Upwork during the 3rd quarter valued at about $15,528,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Upwork during the 4th quarter valued at about $19,082,000. 77.71% of the stock is currently 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.