Hayden Brown Sells 32,050 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWKGet Rating) CEO Hayden Brown sold 32,050 shares of the stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $15.21, for a total value of $487,480.50. Following the completion of the sale, the chief executive officer now directly owns 868,251 shares of the company’s stock, valued at approximately $13,206,097.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Thursday, August 18th, Hayden Brown sold 7,990 shares of Upwork stock. The shares were sold at an average price of $18.54, for a total value of $148,134.60.
  • On Monday, July 18th, Hayden Brown sold 1,311 shares of Upwork stock. The shares were sold at an average price of $20.69, for a total value of $27,124.59.

Upwork Stock Down 0.4 %

UPWK stock opened at $15.23 on Thursday. Upwork Inc. has a twelve month low of $14.85 and a twelve month high of $61.90. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 2.28. The stock’s 50 day moving average is $18.83 and its 200-day moving average is $19.81. The firm has a market capitalization of $1.99 billion, a PE ratio of -24.56 and a beta of 1.49.

Upwork (NASDAQ:UPWKGet Rating) last posted its earnings results on Wednesday, July 27th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. The company had revenue of $156.90 million for the quarter, compared to analyst estimates of $147.78 million. Upwork had a negative return on equity of 31.54% and a negative net margin of 14.28%. The company’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.13) earnings per share. Sell-side analysts expect that Upwork Inc. will post -0.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on UPWK. The Goldman Sachs Group cut their target price on Upwork from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Thursday, June 9th. Needham & Company LLC cut their target price on Upwork from $33.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Jefferies Financial Group cut their target price on Upwork from $24.00 to $20.00 in a research report on Tuesday, May 31st. JMP Securities cut their target price on Upwork from $45.00 to $33.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 28th. Finally, BTIG Research cut their target price on Upwork from $34.00 to $30.00 in a research report on Monday, July 11th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.93.

Institutional Trading of Upwork

A number of large investors have recently bought and sold shares of UPWK. FNY Investment Advisers LLC purchased a new stake in Upwork in the second quarter worth $27,000. Harbor Investment Advisory LLC grew its position in shares of Upwork by 154.4% in the second quarter. Harbor Investment Advisory LLC now owns 1,323 shares of the company’s stock valued at $27,000 after purchasing an additional 803 shares in the last quarter. Amundi grew its position in shares of Upwork by 4,820.7% in the second quarter. Amundi now owns 2,854 shares of the company’s stock valued at $58,000 after purchasing an additional 2,796 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Upwork in the fourth quarter valued at $105,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Upwork in the first quarter valued at $120,000. 75.60% of the stock is owned by hedge funds and other institutional investors.

About Upwork

(Get Rating)

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 sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.

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