Insider Selling: Upwork Inc. (NASDAQ:UPWK) VP Sells $166,656.88 in Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 10,508 shares of Upwork stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.86, for a total transaction of $166,656.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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 value of $13,828.45.

Upwork Price Performance

UPWK stock opened at $14.91 on Friday. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 23.67 and a beta of 1.49. The firm’s 50-day moving average price is $11.71 and its two-hundred day moving average price is $11.13. 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.

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

Analyst Ratings Changes

Several analysts have issued reports on UPWK shares. BTIG Research upped their target price on Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JMP Securities boosted their price objective on shares of Upwork from $14.00 to $18.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Citigroup reduced their target price on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. UBS Group lowered their price target on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group upped their price target on shares of Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three equities 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Institutional Trading of Upwork

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UPWK. Plato Investment Management Ltd bought a new position in Upwork in the second quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Upwork in the 2nd quarter worth approximately $29,000. Headlands Technologies LLC bought a new position in shares of Upwork in the 1st quarter worth approximately $49,000. Quarry LP lifted its stake in shares of Upwork by 104.2% in the 2nd quarter. Quarry LP now owns 4,350 shares of the company’s stock valued at $47,000 after purchasing an additional 2,220 shares during the period. Finally, KBC Group NV boosted its position in shares of 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. Hedge funds and other institutional investors 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.