Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms Sells 5,360 Shares

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 5,360 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total transaction of $91,709.60. Following the sale, the vice president now owns 9,642 shares of the company’s stock, valued at $164,974.62. The trade was a 35.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, November 18th, Dave Bottoms sold 1,396 shares of Upwork stock. The stock was sold at an average price of $15.13, for a total transaction of $21,121.48.
• On Friday, November 15th, Dave Bottoms sold 983 shares of Upwork stock. The shares were sold at an average price of $14.94, for a total transaction of $14,686.02.
• On Friday, November 8th, Dave Bottoms sold 10,508 shares of Upwork stock. The shares were sold at an average price of $15.86, for a total transaction of $166,656.88.

Upwork Stock Performance

Shares of UPWK opened at $16.44 on Monday. The company’s fifty day moving average is $14.89 and its 200-day moving average is $12.01. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $18.14. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 26.10 and a beta of 1.58. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.87.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of UPWK. Plato Investment Management Ltd acquired a new position in shares of Upwork during the 2nd quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Upwork in the 2nd quarter valued at $29,000. Quarry LP grew its stake in 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 buying an additional 2,220 shares during the last quarter. KBC Group NV grew its stake in Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after buying an additional 1,497 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Upwork in the 2nd quarter valued at $54,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on UPWK shares. UBS Group upped their price target on shares of Upwork from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. JMP Securities upped their price target 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. 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. Citigroup upped their price target on shares of Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Finally, BTIG Research upped their price target on shares of Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.36.

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.