Insider Selling: Upwork Inc. (NASDAQ:UPWK) CFO Sells $56,410.12 in Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 4,316 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total transaction of $56,410.12. Following the transaction, the chief financial officer now owns 160,945 shares in the company, valued at approximately $2,103,551.15. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Erica Gessert also recently made the following trade(s):

• On Tuesday, February 18th, Erica Gessert sold 13,765 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total transaction of $222,304.75.

Upwork Stock Up 0.9 %

NASDAQ UPWK opened at $13.57 on Friday. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14. The stock has a market cap of $1.84 billion, a PE ratio of 8.87 and a beta of 1.61. The firm has a 50-day simple moving average of $15.39 and a 200 day simple moving average of $14.30. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. On average, research analysts forecast that Upwork Inc. will post 0.84 EPS for the current year.

Institutional Investors Weigh In On Upwork

A number of institutional investors have recently bought and sold shares of UPWK. KBC Group NV lifted its holdings in shares of Upwork by 45.4% during the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after acquiring an additional 1,497 shares during the period. Quarry LP lifted its stake in Upwork by 42.6% during the third quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after purchasing an additional 1,851 shares during the period. Nkcfo LLC bought a new position in Upwork during the fourth quarter worth about $82,000. SBI Securities Co. Ltd. acquired a new stake in Upwork during the fourth quarter valued at approximately $84,000. Finally, Financial Management Professionals Inc. bought a new stake in shares of Upwork in the 4th quarter valued at approximately $97,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Wall Street Analyst Weigh In

UPWK has been the topic of several recent research reports. JMP Securities restated a “market outperform” rating and set a $18.00 target price on shares of Upwork in a report on Thursday, January 30th. Roth Mkm reduced their target price on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Jefferies Financial Group lifted their price target on shares of Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, January 6th. UBS Group upped their price objective on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Citigroup lifted their target price on shares of Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Upwork currently has an average rating of “Moderate Buy” and a consensus target price of $18.58.

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.