Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms Sells 1,433 Shares

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 1,433 shares of Upwork stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $9.65, for a total value of $13,828.45. Following the completion of the transaction, the vice president now directly owns 11,636 shares in the company, valued at approximately $112,287.40. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, June 18th, Dave Bottoms sold 5,684 shares of Upwork stock. The stock was sold at an average price of $10.22, for a total transaction of $58,090.48.
• 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 transaction of $12,548.77.

Upwork Stock Performance

UPWK stock traded down $0.29 during mid-day trading on Tuesday, reaching $9.39. 2,960,748 shares of the stock traded hands, compared to its average volume of 2,149,771. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average of $10.75 and a two-hundred day moving average of $11.72. The firm has a market capitalization of $1.24 billion, a PE ratio of 26.83 and a beta of 1.57. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $16.36.

Upwork (NASDAQ:UPWK) last announced its earnings results on Wednesday, August 7th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $193.13 million during the quarter, compared to the consensus estimate of $193.05 million. Upwork had a return on equity of 20.75% and a net margin of 10.00%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) EPS. As a group, equities analysts predict that Upwork Inc. will post 0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Upwork

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in 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. Divisadero Street Capital Management LP grew its position in Upwork by 32.9% in the 2nd quarter. Divisadero Street Capital Management LP now owns 3,320,912 shares of the company’s stock worth $35,700,000 after purchasing an additional 822,518 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Upwork by 239.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock worth $33,491,000 after purchasing an additional 1,589,693 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Upwork by 27.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,806,969 shares of the company’s stock valued at $19,424,000 after buying an additional 389,006 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Upwork by 71.0% in the second quarter. Acadian Asset Management LLC now owns 1,635,602 shares of the company’s stock valued at $17,572,000 after buying an additional 679,028 shares during the period. Institutional investors and hedge funds own 77.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Canaccord Genuity Group decreased their target price on Upwork from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Upwork in a report on Wednesday, May 15th. BTIG Research raised Upwork from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Thursday, May 2nd. UBS Group lowered their target price on Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Roth Mkm reduced their price target on Upwork from $19.00 to $13.00 and set a “buy” rating for the company in a report on Friday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Upwork has an average rating of “Moderate Buy” and an average target price of $15.70.

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.