Upwork Inc. (NASDAQ:UPWK) CEO Sells 10,000 Shares

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $15.85, for a total value of $158,500.00. Following the sale, the chief executive officer now directly owns 1,168,850 shares of the company’s stock, valued at $18,526,272.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, September 18th, Hayden Brown sold 9,444 shares of Upwork stock. The shares were sold at an average price of $10.57, for a total transaction of $99,823.08.
• On Monday, September 16th, Hayden Brown sold 20,000 shares of Upwork stock. The stock was sold at an average price of $10.01, for a total transaction of $200,200.00.
• On Monday, August 19th, Hayden Brown sold 31,506 shares of Upwork stock. The shares were sold at an average price of $9.65, for a total value of $304,032.90.

Upwork Stock Performance

Shares of Upwork stock traded down $0.01 during trading hours on Wednesday, hitting $15.72. 2,258,326 shares of the company’s stock traded hands, compared to its average volume of 2,178,651. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 24.95 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 company has a fifty day simple moving average of $11.50 and a 200-day simple moving average of $11.08.

Upwork (NASDAQ:UPWK) last released its earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The company had revenue of $193.78 million during the quarter, compared to analyst estimates of $185.55 million. During the same quarter in the previous year, the company posted $0.12 EPS. Upwork’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities research analysts anticipate that Upwork Inc. will post 0.51 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on UPWK shares. Piper Sandler reissued an “overweight” rating and set a $18.00 price objective (up from $13.00) on shares of Upwork in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Roth Mkm raised their price objective on Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group dropped their price objective on Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Citigroup lowered their price objective on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Upwork has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Institutional Trading of Upwork

Several institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its position in shares of Upwork by 40.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company’s stock worth $2,630,000 after buying an additional 73,104 shares during the last quarter. Cerity Partners LLC acquired a new position in Upwork during the third quarter worth about $1,288,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Upwork by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,011,508 shares of the company’s stock valued at $10,570,000 after purchasing an additional 14,680 shares during the period. Intech Investment Management LLC acquired a new position in shares of Upwork in the 3rd quarter valued at $401,000. Finally, King Luther Capital Management Corp raised its position in Upwork by 23.6% in the third quarter. King Luther Capital Management Corp now owns 261,166 shares of the company’s stock valued at $2,729,000 after purchasing an additional 49,903 shares during the period. Hedge funds and other institutional investors own 77.71% of the company’s stock.

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.