Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms Sells 1,396 Shares

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 1,396 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $15.13, for a total transaction of $21,121.48. Following the transaction, the vice president now owns 2,354 shares in the company, valued at approximately $35,616.02. This trade represents a 37.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Dave Bottoms also recently made the following trade(s):

• On Friday, November 15th, Dave Bottoms sold 983 shares of Upwork stock. The shares were sold at an average price of $14.94, for a total value of $14,686.02.
• On Friday, November 8th, Dave Bottoms sold 10,508 shares of Upwork stock. The stock was sold at an average price of $15.86, for a total transaction of $166,656.88.
• On Wednesday, September 18th, Dave Bottoms sold 5,626 shares of Upwork stock. The stock was sold at an average price of $10.57, for a total value of $59,466.82.
• On Tuesday, August 27th, Dave Bottoms sold 5,818 shares of Upwork stock. The shares were sold at an average price of $9.81, for a total transaction of $57,074.58.

Upwork Price Performance

UPWK stock opened at $14.97 on Thursday. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $17.79. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.18 and a current ratio of 3.18. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 23.76 and a beta of 1.49. The firm has a 50 day moving average price of $12.06 and a 200-day moving average price of $11.18.

Upwork (NASDAQ:UPWK) last issued its earnings results on Wednesday, November 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The business had revenue of $193.78 million for the quarter, compared to the consensus estimate of $185.55 million. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $0.12 EPS. Equities research analysts forecast that Upwork Inc. will post 0.65 EPS for the current fiscal year.

Institutional Trading of Upwork

Several large investors have recently modified their holdings of the company. Plato Investment Management Ltd bought a new position in shares of Upwork in the second quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Upwork in the second quarter worth $29,000. Quarry LP lifted its position in Upwork by 104.2% during the second quarter. Quarry LP now owns 4,350 shares of the company’s stock valued at $47,000 after purchasing an additional 2,220 shares during the last quarter. KBC Group NV lifted its holdings in shares of Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after acquiring an additional 1,497 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Upwork during the second quarter worth approximately $54,000. Institutional investors own 77.71% of the company’s stock.

Wall Street Analysts Forecast Growth

UPWK has been the topic of several analyst reports. BTIG Research upped their price target on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group lifted their price target on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price objective 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. Citigroup reduced their price target on Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Finally, Roth Mkm boosted their price objective on shares of Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

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.