Erica Gessert Sells 4,279 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 4,279 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total value of $73,213.69. Following the sale, the chief financial officer now directly owns 133,093 shares of the company’s stock, valued at approximately $2,277,221.23. The trade was a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Erica Gessert also recently made the following trade(s):

• On Monday, November 18th, Erica Gessert sold 19,816 shares of Upwork stock. The stock was sold at an average price of $15.13, for a total transaction of $299,816.08.

Upwork Price Performance

NASDAQ:UPWK opened at $16.44 on Friday. 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 Inc. has a 12-month low of $8.43 and a 12-month high of $18.14. The stock’s 50 day moving average price is $14.89 and its two-hundred day moving average price is $11.99. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 26.10 and a beta of 1.58.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $185.55 million. During the same quarter last year, the firm posted $0.12 EPS. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, analysts anticipate that Upwork Inc. will post 0.65 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on UPWK shares. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price objective (up from $13.00) on shares of Upwork in a research report on Thursday, November 7th. BTIG Research boosted their price objective on shares of Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group increased their target price on shares of Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on shares of Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, JMP Securities increased their price objective on shares of Upwork from $14.00 to $18.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Upwork has an average rating of “Moderate Buy” and a consensus price target of $18.36.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. SkyView Investment Advisors LLC lifted its position in Upwork by 13.9% during the third quarter. SkyView Investment Advisors LLC now owns 226,375 shares of the company’s stock worth $2,366,000 after acquiring an additional 27,639 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Upwork during the third quarter worth approximately $355,000. XTX Topco Ltd lifted its holdings in Upwork by 198.6% during the 3rd quarter. XTX Topco Ltd now owns 60,509 shares of the company’s stock worth $632,000 after purchasing an additional 40,242 shares during the last quarter. Tabor Asset Management LP bought a new stake in Upwork in the 3rd quarter valued at $993,000. Finally, Tenzing Global Management LLC grew its holdings in Upwork by 20.0% in the 3rd quarter. Tenzing Global Management LLC now owns 450,000 shares of the company’s stock valued at $4,702,000 after buying an additional 75,000 shares in the last quarter. Institutional investors and hedge funds 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.