Dave Bottoms Sells 2,843 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 2,843 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $13.22, for a total transaction of $37,584.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Upwork Stock Down 3.5 %

Shares of Upwork stock opened at $11.92 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.93 and a quick ratio of 2.93. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 34.06 and a beta of 1.66. Upwork Inc. has a 52-week low of $7.54 and a 52-week high of $16.36. The stock has a 50-day simple moving average of $12.14 and a 200-day simple moving average of $13.22.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $183.93 million during the quarter, compared to analysts’ expectations of $178.43 million. Upwork had a return on equity of 13.96% and a net margin of 6.70%. On average, equities research analysts expect that Upwork Inc. will post 0.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on UPWK shares. UBS Group lifted their target price on Upwork from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. JMP Securities increased their target price on Upwork from $16.00 to $17.00 and gave the company a “market outperform” rating in a research note on Thursday, February 15th. Royal Bank of Canada decreased their target price on Upwork from $18.00 to $15.00 and set a “sector perform” rating for the company in a research report on Thursday, May 2nd. The Goldman Sachs Group raised their price target on shares of Upwork from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Finally, BTIG Research upgraded shares of Upwork from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.30.

Institutional Investors Weigh In On Upwork

Several institutional investors have recently modified their holdings of the business. Financial Gravity Asset Management Inc. raised its holdings in Upwork by 2,216.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 3,893,556 shares of the company’s stock valued at $44,231,000 after acquiring an additional 3,725,442 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Upwork by 239.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock valued at $33,491,000 after purchasing an additional 1,589,693 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Upwork during the third quarter worth $16,987,000. Mak Capital One LLC acquired a new position in shares of Upwork in the third quarter valued at approximately $15,528,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Upwork during the fourth quarter worth $19,082,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

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.