Upwork Inc. (NASDAQ:UPWK) CFO Sells $299,816.08 in Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 19,816 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $15.13, for a total value of $299,816.08. Following the transaction, the chief financial officer now owns 128,939 shares of the company’s stock, valued at $1,950,847.07. This represents a 13.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Erica Gessert also recently made the following trade(s):

• On Wednesday, September 18th, Erica Gessert sold 4,491 shares of Upwork stock. The shares were sold at an average price of $10.57, for a total value of $47,469.87.

Upwork Stock Up 2.6 %

UPWK stock opened at $15.36 on Friday. The firm has a market cap of $2.05 billion, a PE ratio of 24.41 and a beta of 1.49. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $17.79. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.18 and a quick ratio of 3.18. The firm has a 50 day simple moving average of $12.06 and a 200 day simple moving average of $11.18.

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

Wall Street Analyst Weigh In

UPWK has been the topic of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price objective (up previously from $13.00) on shares of Upwork in a report on Thursday, November 7th. BTIG Research upped their target price on shares of Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. JMP Securities lifted their price target on Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Canaccord Genuity Group boosted their price objective on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Citigroup lowered their target price on Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Upwork has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Institutional Investors Weigh In On Upwork

A number of large investors have recently made changes to their positions in UPWK. Vanguard Group Inc. increased its holdings in shares of Upwork by 5.1% in 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 period. Divisadero Street Capital Management LP lifted 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 buying an additional 822,518 shares in the last quarter. Invenomic Capital Management LP boosted its stake in shares of Upwork by 12.5% during the 3rd quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company’s stock valued at $24,397,000 after buying an additional 260,274 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Upwork by 27.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,806,969 shares of the company’s stock valued at $19,424,000 after acquiring an additional 389,006 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings 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 acquiring an additional 679,028 shares in the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

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.