Upwork Inc. (NASDAQ:UPWK) CEO Sells $200,200.00 in Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 20,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $10.01, for a total transaction of $200,200.00. Following the completion of the transaction, the chief executive officer now owns 1,170,561 shares of the company’s stock, valued at approximately $11,717,315.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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 value of $99,823.08.
• On Monday, August 19th, Hayden Brown sold 31,506 shares of Upwork stock. The shares were sold at an average price of $9.65, for a total value of $304,032.90.

Upwork Stock Performance

NASDAQ UPWK traded down $0.01 on Wednesday, reaching $10.44. The stock had a trading volume of 2,056,574 shares, compared to its average volume of 2,135,409. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.00 and a current ratio of 3.00. The stock has a market cap of $1.38 billion, a P/E ratio of 30.29 and a beta of 1.54. The business’s 50-day moving average price is $10.33 and its 200 day moving average price is $11.12. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $16.36.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. Upwork had a net margin of 10.00% and a return on equity of 20.75%. The company had revenue of $193.13 million for the quarter, compared to the consensus estimate of $193.05 million. During the same period last year, the firm posted ($0.03) EPS. Upwork’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts expect that Upwork Inc. will post 0.51 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on UPWK. Royal Bank of Canada reduced their target price on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group decreased their price objective on shares of Upwork from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Piper Sandler dropped their target price on Upwork from $20.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group decreased their price target on Upwork from $19.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, UBS Group dropped their price objective on Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.70.

Institutional Trading of Upwork

Hedge funds and other institutional investors have recently made changes to their positions in the company. New Century Financial Group LLC acquired a new stake in Upwork in the first quarter valued at about $1,083,000. Vanguard Group Inc. lifted its holdings in Upwork by 5.1% in the first quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock valued at $196,115,000 after acquiring an additional 770,088 shares during the period. Goldman Sachs Group Inc. grew its stake 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 worth $33,491,000 after purchasing an additional 1,589,693 shares during the period. Csenge Advisory Group purchased a new position in shares of Upwork in the 1st quarter valued at about $1,344,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Upwork in the first quarter valued at about $3,165,000. Hedge funds and other institutional investors 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.