Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown Sells 10,000 Shares

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 10,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.85, for a total transaction of $158,500.00. Following the completion of the sale, the chief executive officer now owns 1,168,850 shares in the company, valued at approximately $18,526,272.50. This trade represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, September 18th, Hayden Brown sold 9,444 shares of Upwork stock. The stock was sold at an average price of $10.57, for a total transaction of $99,823.08.
• On Monday, September 16th, Hayden Brown sold 20,000 shares of Upwork stock. The shares were sold at an average price of $10.01, for a total transaction of $200,200.00.
• On Monday, August 19th, Hayden Brown sold 31,506 shares of Upwork stock. The stock was sold at an average price of $9.65, for a total transaction of $304,032.90.

Upwork Stock Down 1.3 %

UPWK stock opened at $14.91 on Friday. The company has a 50 day moving average of $11.71 and a two-hundred day moving average of $11.13. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 23.67 and a beta of 1.49. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $17.79. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.87.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The business had revenue of $193.78 million during the quarter, compared to analyst estimates of $185.55 million. During the same period last year, the company earned $0.12 earnings per share. Upwork’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts anticipate that Upwork Inc. will post 0.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on UPWK. The Goldman Sachs Group raised their price objective on Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. BTIG Research lifted their price target on Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada reduced their price objective on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. UBS Group dropped their target price on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Roth Mkm upped their price target on shares of Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Institutional Investors Weigh In On Upwork

Several institutional investors have recently made changes to their positions in UPWK. KBC Group NV raised its position in Upwork by 45.4% during 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 in the last quarter. ProShare Advisors LLC increased its stake in shares of Upwork by 8.6% during the 1st quarter. ProShare Advisors LLC now owns 22,483 shares of the company’s stock worth $276,000 after purchasing an additional 1,771 shares during the last quarter. Quarry LP raised its holdings in shares of Upwork by 42.6% during the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after purchasing an additional 1,851 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Upwork by 0.6% in the 2nd quarter. Federated Hermes Inc. now owns 318,659 shares of the company’s stock valued at $3,426,000 after purchasing an additional 1,996 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Upwork by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 66,809 shares of the company’s stock worth $718,000 after purchasing an additional 2,063 shares in the last quarter. 77.71% of the stock is currently owned by institutional investors and hedge funds.

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.