Upwork (NASDAQ:UPWK – Free Report) had its price objective trimmed by Royal Bank of Canada from $15.00 to $11.00 in a report issued on Thursday, Benzinga reports. The firm currently has a sector perform rating on the stock.
A number of other analysts also recently issued reports on the stock. Roth Mkm reissued a buy rating and issued a $19.00 price objective on shares of Upwork in a report on Wednesday, May 15th. UBS Group cut their price objective on shares of Upwork from $12.00 to $11.00 and set a neutral rating for the company in a report on Thursday. The Goldman Sachs Group cut their price objective on shares of Upwork from $24.00 to $21.00 and set a buy rating for the company in a report on Thursday. Needham & Company LLC reissued a buy rating and issued a $20.00 price objective on shares of Upwork in a report on Wednesday, May 15th. Finally, Canaccord Genuity Group cut their price target on shares of Upwork from $19.00 to $15.00 and set a buy rating for the company in a report on Thursday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $16.30.
Check Out Our Latest Stock Report on Upwork
Upwork Stock Performance
Insider Buying and Selling
In related news, VP Dave Bottoms sold 2,379 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $11.73, for a total transaction of $27,905.67. Following the completion of the transaction, the vice president now directly owns 2,326 shares in the company, valued at approximately $27,283.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Upwork news, CFO Erica Gessert sold 4,537 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $10.22, for a total value of $46,368.14. Following the completion of the transaction, the chief financial officer now directly owns 90,166 shares in the company, valued at approximately $921,496.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Dave Bottoms sold 2,379 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $11.73, for a total transaction of $27,905.67. Following the completion of the transaction, the vice president now owns 2,326 shares of the company’s stock, valued at $27,283.98. The disclosure for this sale can be found here. Insiders sold a total of 192,496 shares of company stock worth $2,231,891 in the last three months. 7.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Upwork
Large investors have recently modified their holdings of the company. Quadrant Capital Group LLC increased its position in shares of Upwork by 67.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock worth $30,000 after buying an additional 803 shares during the period. Daiwa Securities Group Inc. bought a new position in Upwork during the fourth quarter worth $33,000. Plato Investment Management Ltd bought a new position in Upwork during the second quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Upwork during the second quarter worth $29,000. Finally, Headlands Technologies LLC bought a new position in Upwork during the first quarter worth $49,000. 77.71% of the stock is currently owned by institutional investors and hedge funds.
Upwork Company Profile
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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