Insider Selling: Upwork Inc. (NASDAQ:UPWK) CFO Sells 9,267 Shares of Stock

Upwork Inc. (NASDAQ:UPWK - Get Free Report) CFO Erica Gessert sold 9,267 shares of the business's 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 $125,197.17. Following the sale, the chief financial officer now owns 190,738 shares of the company's stock, valued at approximately $2,576,870.38. This represents a 4.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, May 19th, Erica Gessert sold 19,677 shares of Upwork stock. The stock was sold at an average price of $16.56, for a total value of $325,851.12.

Upwork Price Performance

UPWK stock traded down $0.07 during midday trading on Monday, reaching $13.07. The company had a trading volume of 3,287,541 shares, compared to its average volume of 2,279,736. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14. The stock has a 50 day moving average price of $14.76 and a 200-day moving average price of $15.10. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.41 and a quick ratio of 3.41. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 7.83 and a beta of 1.44.

Upwork (NASDAQ:UPWK - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.25 by $0.09. The firm had revenue of $192.71 million for the quarter, compared to analyst estimates of $188.49 million. Upwork had a net margin of 30.46% and a return on equity of 48.38%. The business's quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. Equities research analysts expect that Upwork Inc. will post 0.84 earnings per share for the current year.

Institutional Trading of Upwork

Several large investors have recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. boosted its position in Upwork by 5.7% in the first quarter. Mesirow Financial Investment Management Inc. now owns 27,228 shares of the company's stock valued at $347,000 after buying an additional 1,465 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Upwork by 3.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 67,716 shares of the company's stock worth $1,107,000 after acquiring an additional 2,148 shares during the period. Rhumbline Advisers boosted its stake in shares of Upwork by 1.4% in the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company's stock valued at $2,914,000 after purchasing an additional 2,387 shares during the last quarter. King Luther Capital Management Corp increased its position in shares of Upwork by 1.0% during the fourth quarter. King Luther Capital Management Corp now owns 263,802 shares of the company's stock worth $4,313,000 after buying an additional 2,636 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Upwork by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,867 shares of the company's stock worth $1,159,000 after acquiring an additional 2,695 shares during the period. Institutional investors and hedge funds own 77.71% of the company's stock.

Analysts Set New Price Targets

UPWK has been the topic of a number of research reports. Citigroup reaffirmed an "outperform" rating on shares of Upwork in a report on Friday, May 16th. BTIG Research cut shares of Upwork from a "buy" rating to a "neutral" rating in a research report on Friday, April 4th. Jefferies Financial Group decreased their price target on shares of Upwork from $21.00 to $20.00 and set a "buy" rating on the stock 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 report on Saturday, May 24th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $18.00 price objective on shares of Upwork in a research note on Monday, June 2nd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Upwork has a consensus rating of "Moderate Buy" and an average target price of $18.67.

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.

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