Dave Bottoms Sells 5,411 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 5,411 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total value of $70,721.77. Following the completion of the sale, the insider now owns 9,593 shares in the company, valued at approximately $125,380.51. This represents a 36.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, February 18th, Dave Bottoms sold 1,543 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total value of $24,919.45.

Upwork Stock Performance

Upwork stock traded up $0.03 during midday trading on Thursday, reaching $13.45. 1,381,989 shares of the company’s stock were exchanged, compared to its average volume of 2,210,246. The stock’s 50-day simple moving average is $15.43 and its 200 day simple moving average is $14.24. 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 firm has a market cap of $1.82 billion, a price-to-earnings ratio of 8.79 and a beta of 1.61. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14.

Upwork (NASDAQ:UPWK) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share 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%. On average, analysts expect that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on UPWK shares. Needham & Company LLC raised their price objective on Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and set a $18.00 price objective on shares of Upwork in a research note on Thursday, January 30th. UBS Group raised their price objective on Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Citigroup raised their target price on Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Finally, Jefferies Financial Group raised their target price on Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.58.

Institutional Trading of Upwork

Institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Upwork by 51.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock valued at $253,405,000 after purchasing an additional 5,289,493 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of 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 acquiring an additional 1,534,078 shares during the period. Dorsey Asset Management LLC grew its position in shares of Upwork by 15.0% during the 4th quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company’s stock valued at $49,788,000 after acquiring an additional 397,997 shares during the period. Two Sigma Investments LP grew its position in shares of Upwork by 49.2% during the 4th quarter. Two Sigma Investments LP now owns 2,436,680 shares of the company’s stock valued at $39,840,000 after acquiring an additional 803,929 shares during the period. Finally, Invenomic Capital Management LP boosted its holdings in Upwork by 12.5% in the 3rd quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company’s stock worth $24,397,000 after buying an additional 260,274 shares during the period. 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.