Dave Bottoms Sells 10,508 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 10,508 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.86, for a total value of $166,656.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, September 18th, Dave Bottoms sold 5,626 shares of Upwork stock. The shares were sold at an average price of $10.57, for a total value of $59,466.82.
• On Tuesday, August 27th, Dave Bottoms sold 5,818 shares of Upwork stock. The stock was sold at an average price of $9.81, for a total value of $57,074.58.
• On Monday, August 19th, Dave Bottoms sold 1,433 shares of Upwork stock. The shares were sold at an average price of $9.65, for a total transaction of $13,828.45.

Upwork Trading Down 1.3 %

Shares of NASDAQ:UPWK opened at $14.91 on Friday. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $17.79. The business has a 50 day moving average of $11.71 and a two-hundred day moving average of $11.13. The company has a market capitalization of $1.99 billion, a PE ratio of 23.67 and a beta of 1.49.

Upwork (NASDAQ:UPWK) last posted its earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $193.78 million during the quarter, compared to analysts’ expectations of $185.55 million. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 EPS. As a group, analysts forecast that Upwork Inc. will post 0.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on UPWK. Citigroup decreased their price target on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Roth Mkm raised their target price on Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price target on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. BTIG Research raised their price objective on Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, JMP Securities upped their target price on Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.00.

Institutional Investors Weigh In On Upwork

A number of institutional investors have recently modified their holdings of the business. Divisadero Street Capital Management LP lifted its position in shares of Upwork by 32.9% during the 2nd quarter. Divisadero Street Capital Management LP now owns 3,320,912 shares of the company’s stock valued at $35,700,000 after buying an additional 822,518 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Upwork in the third quarter valued at about $8,369,000. Vanguard Group Inc. increased its stake in shares of Upwork by 5.1% during the first quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock worth $196,115,000 after purchasing an additional 770,088 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Upwork by 71.0% during the second quarter. Acadian Asset Management LLC now owns 1,635,602 shares of the company’s stock worth $17,572,000 after purchasing an additional 679,028 shares in the last quarter. Finally, Invenomic Capital Management LP raised its position in shares of Upwork by 132.5% during the 1st quarter. Invenomic Capital Management LP now owns 964,641 shares of the company’s stock worth $11,826,000 after purchasing an additional 549,733 shares during the last quarter. 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.