Upwork Inc. (NASDAQ:UPWK - Get Free Report) CEO Hayden Brown sold 23,716 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was 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 $15,583,582.35. This represents a 2.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Hayden Brown also recently made the following trade(s):
- On Monday, May 19th, Hayden Brown sold 26,438 shares of Upwork stock. The shares were sold at an average price of $16.58, for a total value of $438,342.04.
- On Thursday, May 15th, Hayden Brown sold 60,000 shares of Upwork stock. The stock was sold at an average price of $17.16, for a total transaction 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 transaction of $341,800.00.
- On Wednesday, May 7th, Hayden Brown sold 40,000 shares of Upwork stock. The stock was sold at an average price of $15.92, for a total transaction of $636,800.00.
Upwork Trading Up 1.4%
Shares of UPWK stock traded up $0.19 during trading on Thursday, hitting $13.57. 2,439,697 shares of the stock traded hands, compared to its average volume of 2,298,243. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14. The firm has a market capitalization of $1.79 billion, a P/E ratio of 8.13 and a beta of 1.44. The firm's fifty day moving average price is $14.81 and its 200-day moving average price is $15.02. 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 (NASDAQ:UPWK - Get Free Report) last posted 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. Upwork had a return on equity of 48.38% and a net margin of 30.46%. The company had revenue of $192.71 million during the quarter, compared to analysts' expectations of $188.49 million. During the same quarter last year, the firm earned $0.22 earnings per share. The firm's quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts forecast that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Upwork in the 4th quarter valued at approximately $806,000. Bayesian Capital Management LP acquired a new stake in Upwork in the 4th quarter valued at approximately $1,019,000. Dorsey Asset Management LLC increased its holdings in Upwork by 15.0% in the 4th quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company's stock valued at $49,788,000 after purchasing an additional 397,997 shares during the last quarter. Ameriprise Financial Inc. raised its position in Upwork by 385.2% in the fourth quarter. Ameriprise Financial Inc. now owns 232,128 shares of the company's stock valued at $3,795,000 after purchasing an additional 184,289 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Upwork during the fourth quarter worth $419,000. Hedge funds and other institutional investors own 77.71% of the company's stock.
Analyst Upgrades and Downgrades
UPWK has been the topic of several research analyst reports. BTIG Research cut Upwork from a "buy" rating to a "neutral" rating in a report on Friday, April 4th. Scotiabank started coverage on Upwork in a report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 price objective on the stock. Wall Street Zen raised shares of Upwork from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. JMP Securities raised 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. Finally, Needham & Company LLC restated a "buy" rating and set a $19.00 price target on shares of Upwork in a research report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Upwork presently has an average rating of "Moderate Buy" and a consensus target price of $18.67.
Read Our Latest Stock Report on UPWK
About Upwork
(
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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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