Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown Sells 20,000 Shares

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 20,000 shares of Upwork stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $16.84, for a total transaction of $336,800.00. Following the completion of the sale, the chief executive officer now owns 1,229,420 shares of the company’s stock, valued at $20,703,432.80. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hayden Brown also recently made the following trade(s):

• On Wednesday, December 18th, Hayden Brown sold 8,997 shares of Upwork stock. The stock was sold at an average price of $17.12, for a total transaction of $154,028.64.
• On Wednesday, November 27th, Hayden Brown sold 15,000 shares of Upwork stock. The shares were sold at an average price of $17.00, for a total value of $255,000.00.
• On Monday, November 18th, Hayden Brown sold 30,672 shares of Upwork stock. The stock was sold at an average price of $15.13, for a total value of $464,067.36.
• On Friday, November 8th, Hayden Brown sold 10,000 shares of Upwork stock. The shares were sold at an average price of $15.85, for a total value of $158,500.00.

Upwork Stock Down 2.7 %

Shares of UPWK opened at $16.58 on Thursday. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $2.22 billion, a PE ratio of 26.32 and a beta of 1.58. The business’s 50 day moving average is $14.53 and its 200 day moving average is $11.88.

Upwork (NASDAQ:UPWK) last posted its earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The company 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%. Upwork’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the company posted $0.12 earnings per share. Research analysts expect that Upwork Inc. will post 0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Upwork

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Plato Investment Management Ltd bought a new stake in Upwork in the 2nd quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Upwork in the second quarter valued at $29,000. Quarry LP increased its position in Upwork by 104.2% in the second quarter. Quarry LP now owns 4,350 shares of the company’s stock worth $47,000 after purchasing an additional 2,220 shares during the last quarter. KBC Group NV raised its stake in Upwork by 45.4% during the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after purchasing an additional 1,497 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Upwork during the second quarter valued at $54,000. 77.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on UPWK shares. Roth Mkm boosted their price target on Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Citigroup upped their target price on shares of Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, November 29th. BTIG Research increased their price target 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 boosted their price objective on shares of Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their target price on Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Upwork has a consensus rating of “Moderate Buy” and a consensus target price of $18.36.

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.