Insider Selling: Upwork Inc. (NASDAQ:UPWK) VP Sells 983 Shares of Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 983 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $14.94, for a total transaction of $14,686.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, November 8th, Dave Bottoms sold 10,508 shares of Upwork stock. The stock was sold at an average price of $15.86, for a total value of $166,656.88.
• 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 transaction 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.

Upwork Trading Down 1.2 %

NASDAQ:UPWK traded down $0.18 during midday trading on Tuesday, hitting $14.93. The stock had a trading volume of 2,299,906 shares, compared to its average volume of 2,178,106. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average of $11.94 and a 200 day moving average of $11.15. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 23.70 and a beta of 1.49. Upwork Inc. has a one year low of $8.43 and a one year high of $17.79.

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

Analyst Ratings Changes

Several analysts recently weighed in on UPWK shares. Canaccord Genuity Group increased their price target on Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada reduced their target price on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Citigroup dropped their price target on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. The Goldman Sachs Group increased their price objective on shares of Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, BTIG Research raised their price objective on shares of Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research note 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in UPWK. Y Intercept Hong Kong Ltd bought a new position in shares of Upwork during the third quarter valued at approximately $355,000. XTX Topco Ltd boosted its position in Upwork by 198.6% during the 3rd quarter. XTX Topco Ltd now owns 60,509 shares of the company’s stock valued at $632,000 after acquiring an additional 40,242 shares in the last quarter. Tabor Asset Management LP purchased a new position in shares of Upwork in the 3rd quarter valued at $993,000. Tenzing Global Management LLC raised its position in shares of Upwork by 20.0% in the 3rd quarter. Tenzing Global Management LLC now owns 450,000 shares of the company’s stock worth $4,702,000 after acquiring an additional 75,000 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Upwork by 228.0% during the 3rd quarter. Stifel Financial Corp now owns 211,569 shares of the company’s stock worth $2,211,000 after purchasing an additional 147,059 shares during the last quarter. 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.