Upwork Inc. (NASDAQ:UPWK) VP Sells $58,090.48 in Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 5,684 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $10.22, for a total transaction of $58,090.48. Following the completion of the sale, the vice president now owns 9,319 shares of the company’s stock, valued at approximately $95,240.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, May 29th, Dave Bottoms sold 1,163 shares of Upwork stock. The stock was sold at an average price of $10.79, for a total transaction of $12,548.77.
• On Monday, May 20th, Dave Bottoms sold 2,379 shares of Upwork stock. The stock was sold at an average price of $11.73, for a total transaction of $27,905.67.
• On Friday, May 3rd, Dave Bottoms sold 2,843 shares of Upwork stock. The shares were sold at an average price of $13.22, for a total transaction of $37,584.46.

Upwork Stock Up 0.9 %

Shares of NASDAQ:UPWK opened at $10.66 on Thursday. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 30.46 and a beta of 1.56. Upwork Inc. has a 1-year low of $8.49 and a 1-year high of $16.36. The company’s fifty day moving average is $11.23 and its two-hundred day moving average is $12.75. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.93 and a current ratio of 2.93.

Upwork (NASDAQ:UPWK) last issued its earnings results on Wednesday, May 1st. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $190.94 million for the quarter, compared to analysts’ expectations of $186.71 million. Upwork had a net margin of 6.70% and a return on equity of 13.96%. Equities analysts anticipate that Upwork Inc. will post 0.52 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Upwork from $18.00 to $15.00 and set a “sector perform” rating for the company in a report on Thursday, May 2nd. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Upwork in a research note on Wednesday, May 15th. Roth Mkm reiterated a “buy” rating and set a $19.00 price objective on shares of Upwork in a research note on Wednesday, May 15th. Finally, BTIG Research raised shares of Upwork from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.80.

Hedge Funds Weigh In On Upwork

Institutional investors have recently modified their holdings of the company. Boston Partners bought a new position in Upwork in the 1st quarter valued at about $1,384,000. SkyView Investment Advisors LLC grew its position in Upwork by 17.8% in the 1st quarter. SkyView Investment Advisors LLC now owns 186,393 shares of the company’s stock valued at $2,285,000 after buying an additional 28,139 shares in the last quarter. Invenomic Capital Management LP grew its position in Upwork by 132.5% in the 1st quarter. Invenomic Capital Management LP now owns 964,641 shares of the company’s stock valued at $11,826,000 after buying an additional 549,733 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Upwork in the 1st quarter valued at about $1,987,000. Finally, Bayesian Capital Management LP bought a new position in Upwork in the 1st quarter valued at about $567,000. 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.