Hayden Brown Sells 23,716 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK - Get Free Report) CEO Hayden Brown sold 23,716 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $13.51, for a total value of $320,403.16. Following the transaction, the chief executive officer now owns 1,153,485 shares in the company, valued at approximately $15,583,582.35. This represents a 2.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, May 19th, Hayden Brown sold 26,438 shares of Upwork stock. The stock was sold at an average price of $16.58, for a total transaction of $438,342.04.
• On Thursday, May 15th, Hayden Brown sold 60,000 shares of Upwork stock. The shares were sold at an average price of $17.16, for a total value of $1,029,600.00.
• On Monday, May 12th, Hayden Brown sold 20,000 shares of Upwork stock. The shares were sold at an average price of $17.09, for a total value of $341,800.00.
• On Wednesday, May 7th, Hayden Brown sold 40,000 shares of Upwork stock. The shares were sold at an average price of $15.92, for a total value of $636,800.00.

Upwork Stock Down 0.5%

UPWK stock traded down $0.07 during trading on Monday, hitting $13.07. 3,287,541 shares of the stock traded hands, compared to its average volume of 2,279,736. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 7.87 and a beta of 1.44. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.41 and a quick ratio of 3.41. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14. The firm's 50 day moving average is $14.76 and its two-hundred day moving average is $15.10.

Upwork (NASDAQ:UPWK - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.09. The firm had revenue of $192.71 million for the quarter, compared to the consensus estimate of $188.49 million. Upwork had a net margin of 30.46% and a return on equity of 48.38%. The business's revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 earnings per share. On average, sell-side analysts anticipate that Upwork Inc. will post 0.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $18.00 price objective on shares of Upwork in a report on Monday, June 2nd. JMP Securities increased their price target on shares of Upwork from $18.00 to $20.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. Jefferies Financial Group decreased their price target on shares of Upwork from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Wall Street Zen raised shares of Upwork from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Finally, Scotiabank assumed coverage on shares of Upwork in a report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Upwork presently has an average rating of "Moderate Buy" and a consensus price target of $18.67.

Hedge Funds Weigh In On Upwork

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UPWK. Susquehanna Fundamental Investments LLC purchased a new position in shares of Upwork during the fourth quarter valued at approximately $806,000. Bayesian Capital Management LP bought a new stake in Upwork in the 4th quarter worth approximately $1,019,000. Dorsey Asset Management LLC grew its position in Upwork by 15.0% in the 4th quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company's stock worth $49,788,000 after purchasing an additional 397,997 shares during the period. Ameriprise Financial Inc. raised its stake in Upwork by 385.2% during the 4th quarter. Ameriprise Financial Inc. now owns 232,128 shares of the company's stock valued at $3,795,000 after buying an additional 184,289 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Upwork during the 4th quarter valued at $419,000. 77.71% of the stock is owned by institutional investors.

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.

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