Dave Bottoms Sells 5,360 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 5,360 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total value of $91,709.60. Following the sale, the vice president now directly owns 9,642 shares of the company’s stock, valued at $164,974.62. The trade was a 35.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, November 18th, Dave Bottoms sold 1,396 shares of Upwork stock. The shares were sold at an average price of $15.13, for a total transaction of $21,121.48.
• On Friday, November 15th, Dave Bottoms sold 983 shares of Upwork stock. The stock was 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.

Upwork Stock Performance

Upwork stock opened at $16.44 on Friday. The company has a fifty day moving average price of $14.89 and a two-hundred day moving average price of $11.99. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.18 and a quick ratio of 3.18. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $18.14. The company has a market cap of $2.20 billion, a PE ratio of 26.10 and a beta of 1.58.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $193.78 million during the quarter, compared to analyst estimates of $185.55 million. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 EPS. Research analysts expect that Upwork Inc. will post 0.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on UPWK. Canaccord Genuity Group increased their price target 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 raised their price objective on Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Roth Mkm boosted their price objective on shares of Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. UBS Group increased their target price on Upwork from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, 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 report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Upwork currently has an average rating of “Moderate Buy” and a consensus target price of $18.36.

Institutional Investors Weigh In On Upwork

A number of hedge funds have recently made changes to their positions in UPWK. Plato Investment Management Ltd acquired a new stake in shares of Upwork in the 2nd quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Upwork in the 2nd quarter worth about $29,000. Quarry LP raised its holdings in Upwork by 104.2% during the 2nd quarter. Quarry LP now owns 4,350 shares of the company’s stock worth $47,000 after buying an additional 2,220 shares during the period. KBC Group NV lifted its stake in Upwork by 45.4% during the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after buying an additional 1,497 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Upwork in the second quarter worth about $54,000. 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.