Upwork Inc. (NASDAQ:UPWK) CFO Sells $73,213.69 in Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 4,279 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $17.11, for a total value of $73,213.69. Following the transaction, the chief financial officer now directly owns 133,093 shares of the company’s stock, valued at approximately $2,277,221.23. The trade was a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Erica Gessert also recently made the following trade(s):

• On Monday, November 18th, Erica Gessert sold 19,816 shares of Upwork stock. The shares were sold at an average price of $15.13, for a total value of $299,816.08.

Upwork Trading Up 1.2 %

Shares of UPWK stock traded up $0.20 on Friday, reaching $16.44. 3,093,067 shares of the company’s stock were exchanged, compared to its average volume of 2,170,488. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $2.20 billion, a PE ratio of 26.10 and a beta of 1.58. The company’s fifty day simple moving average is $14.77 and its 200 day simple moving average is $11.95.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $193.78 million during 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%. Upwork’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $0.12 EPS. As a group, analysts forecast that Upwork Inc. will post 0.65 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its holdings in Upwork by 186.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 306,900 shares of the company’s stock worth $3,299,000 after purchasing an additional 199,900 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Upwork in the 3rd quarter valued at $858,000. Victory Capital Management Inc. increased its holdings in shares of Upwork by 133.5% in the 3rd quarter. Victory Capital Management Inc. now owns 116,899 shares of the company’s stock valued at $1,222,000 after acquiring an additional 66,842 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Upwork in the 2nd quarter valued at $1,637,000. Finally, BNP Paribas Financial Markets increased its holdings 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 valued at $2,630,000 after acquiring an additional 73,104 shares during the period. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on UPWK. JMP Securities increased their price target on Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. UBS Group raised their price objective on Upwork from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group raised their price objective on Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price objective on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Roth Mkm raised their price objective on Upwork from $13.00 to $20.00 and gave the company 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.