Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown Sells 30,672 Shares of Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 30,672 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $15.13, for a total value of $464,067.36. Following the completion of the transaction, the chief executive officer now owns 1,196,221 shares in the company, valued at $18,098,823.73. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, November 8th, Hayden Brown sold 10,000 shares of Upwork stock. The shares were sold at an average price of $15.85, for a total value of $158,500.00.
• On Wednesday, September 18th, Hayden Brown sold 9,444 shares of Upwork stock. The shares were 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 stock was sold at an average price of $10.01, for a total value of $200,200.00.

Upwork Trading Up 0.3 %

NASDAQ:UPWK opened at $14.97 on Thursday. The company has a market cap of $2.00 billion, a P/E ratio of 23.76 and a beta of 1.49. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $17.79. The business has a 50 day moving average price of $12.06 and a two-hundred day moving average price of $11.18. 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 posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The firm had revenue of $193.78 million during the quarter, compared to the consensus estimate of $185.55 million. During the same period last year, the company earned $0.12 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. As a group, analysts expect that Upwork Inc. will post 0.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on UPWK. Citigroup reduced their price objective on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Royal Bank of Canada reduced their target price on Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group raised their price target on shares of Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group boosted their target price on shares of Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, UBS Group decreased their price target on Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Upwork currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Institutional Trading of Upwork

A number of hedge funds have recently made changes to their positions in UPWK. Y Intercept Hong Kong Ltd bought a new position in Upwork during the third quarter worth $355,000. XTX Topco Ltd raised its holdings in Upwork by 198.6% in the 3rd quarter. XTX Topco Ltd now owns 60,509 shares of the company’s stock valued at $632,000 after acquiring an additional 40,242 shares during the period. Tabor Asset Management LP acquired a new stake in Upwork during the third quarter worth approximately $993,000. Tenzing Global Management LLC boosted its holdings in shares of Upwork by 20.0% during the third quarter. Tenzing Global Management LLC now owns 450,000 shares of the company’s stock worth $4,702,000 after acquiring an additional 75,000 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of Upwork by 228.0% during the third quarter. Stifel Financial Corp now owns 211,569 shares of the company’s stock worth $2,211,000 after purchasing an additional 147,059 shares during the period. 77.71% of the stock is owned by institutional investors and hedge funds.

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.