Hayden Brown Sells 21,122 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 21,122 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total transaction of $341,120.30. Following the sale, the chief executive officer now directly owns 1,275,083 shares of the company’s stock, valued at approximately $20,592,590.45. This trade represents a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hayden Brown also recently made the following trade(s):

• On Wednesday, December 18th, Hayden Brown sold 8,997 shares of Upwork stock. The stock was sold at an average price of $17.12, for a total transaction of $154,028.64.
• On Monday, December 16th, Hayden Brown sold 20,000 shares of Upwork stock. The stock was sold at an average price of $16.84, for a total transaction of $336,800.00.
• On Wednesday, November 27th, Hayden Brown sold 15,000 shares of Upwork stock. The stock was sold at an average price of $17.00, for a total transaction of $255,000.00.

Upwork Price Performance

NASDAQ UPWK traded down $0.68 on Thursday, hitting $16.76. The stock had a trading volume of 3,338,335 shares, compared to its average volume of 2,702,107. The firm has a 50-day moving average of $16.33 and a 200-day moving average of $13.59. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 10.95 and a beta of 1.57. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. Equities analysts expect that Upwork Inc. will post 0.84 EPS for the current year.

Analysts Set New Price Targets

UPWK has been the subject of a number of research analyst reports. Needham & Company LLC increased their target price on shares of Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. 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 report on Thursday, November 7th. Jefferies Financial Group boosted their target price on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Canaccord Genuity Group lifted their price target on shares of Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price target (up previously from $13.00) on shares of Upwork in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.91.

Hedge Funds Weigh In On Upwork

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV raised its stake in shares of Upwork by 45.4% in the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after acquiring an additional 1,497 shares during the period. CWM LLC increased its holdings in shares of Upwork by 71.9% during the 3rd quarter. CWM LLC now owns 5,896 shares of the company’s stock valued at $62,000 after purchasing an additional 2,467 shares in the last quarter. Quarry LP grew its stake in Upwork by 42.6% in the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after acquiring an additional 1,851 shares during the period. Nkcfo LLC acquired a new stake in Upwork during the 4th quarter worth $82,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Upwork during the 4th quarter worth $84,000. 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.