Insider Selling: Upwork Inc. (NASDAQ:UPWK) Director Sells $1,318,500.00 in Stock

Upwork Inc. (NASDAQ:UPWK) Director Elizabeth A. Nelson sold 75,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $17.58, for a total value of $1,318,500.00. Following the completion of the transaction, the director now owns 16,299 shares in the company, valued at $286,536.42. This represents a 82.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Upwork Trading Down 6.7 %

UPWK opened at $15.63 on Monday. The stock has a market cap of $2.12 billion, a PE ratio of 10.22 and a beta of 1.57. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average of $16.30 and a 200-day moving average of $13.69. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14.

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

Wall Street Analyst Weigh In

UPWK has been the topic of a number of research analyst reports. Piper Sandler restated an “overweight” rating and issued a $18.00 target price (up from $13.00) on shares of Upwork in a research note on Thursday, November 7th. Roth Mkm reduced their price objective on Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. BTIG Research increased their target price on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Citigroup increased their target price on Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Finally, The Goldman Sachs Group increased their target price on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.91.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UPWK. Price T Rowe Associates Inc. MD increased its position in Upwork by 51.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock valued at $253,405,000 after buying an additional 5,289,493 shares in the last quarter. Invesco Ltd. increased its position in Upwork by 1,674.0% during the 4th quarter. Invesco Ltd. now owns 1,748,320 shares of the company’s stock valued at $28,585,000 after buying an additional 1,649,766 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in Upwork by 86.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company’s stock valued at $54,005,000 after buying an additional 1,534,078 shares in the last quarter. Contour Asset Management LLC bought a new position in Upwork during the 4th quarter valued at approximately $24,633,000. Finally, LSV Asset Management bought a new stake in shares of Upwork in the 4th quarter worth $18,838,000. 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.