Insider Selling: Upwork Inc. (NASDAQ:UPWK) CEO Sells $99,823.08 in Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 9,444 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $10.57, for a total value of $99,823.08. Following the completion of the sale, the chief executive officer now directly owns 1,178,850 shares in the company, valued at approximately $12,460,444.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Hayden Brown also recently made the following trade(s):

• On Monday, September 16th, Hayden Brown sold 20,000 shares of Upwork stock. The stock was sold at an average price of $10.01, for a total value of $200,200.00.
• 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 Down 0.6 %

Shares of UPWK opened at $10.71 on Friday. The stock’s 50-day moving average price is $10.30 and its two-hundred day moving average price is $11.10. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $16.36. The company has a market capitalization of $1.43 billion, a PE ratio of 30.60 and a beta of 1.54. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 0.99.

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

Institutional Investors Weigh In On Upwork

A number of institutional investors have recently modified their holdings of UPWK. Vanguard Group Inc. boosted its position in Upwork by 5.1% during 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 last quarter. Divisadero Street Capital Management LP lifted its stake in shares of Upwork by 32.9% in the 2nd quarter. Divisadero Street Capital Management LP now owns 3,320,912 shares of the company’s stock valued at $35,700,000 after purchasing an additional 822,518 shares during the period. Goldman Sachs Group Inc. boosted its position 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in Upwork by 27.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,806,969 shares of the company’s stock worth $19,424,000 after purchasing an additional 389,006 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in Upwork by 71.0% in the second quarter. Acadian Asset Management LLC now owns 1,635,602 shares of the company’s stock worth $17,572,000 after purchasing an additional 679,028 shares in the last quarter. 77.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Roth Mkm reduced their price target on shares of Upwork from $19.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. UBS Group cut their target price on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada lowered their price target on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group cut their price objective on Upwork from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Piper Sandler lowered their target price on Upwork from $20.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Two 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.com, Upwork has a consensus rating of “Moderate Buy” and a consensus price target of $15.70.

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.