Leela Srinivasan Sells 3,314 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK - Get Free Report) Director Leela Srinivasan sold 3,314 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $15.36, for a total value of $50,903.04. Following the completion of the sale, the director now owns 79,469 shares in the company, valued at $1,220,643.84. This represents a 4.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Leela Srinivasan also recently made the following trade(s):

• On Thursday, June 5th, Leela Srinivasan sold 6,520 shares of Upwork stock. The stock was sold at an average price of $15.16, for a total value of $98,843.20.

Upwork Stock Performance

Shares of Upwork stock traded down $0.10 during trading on Thursday, reaching $14.47. The company's stock had a trading volume of 1,659,699 shares, compared to its average volume of 2,262,004. The company has a 50-day moving average price of $14.65 and a two-hundred day moving average price of $15.27. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14. The firm has a market cap of $1.90 billion, a PE ratio of 9.46 and a beta of 1.44. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62.

Upwork (NASDAQ:UPWK - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The company had revenue of $192.71 million during the quarter, compared to analysts' expectations of $188.49 million. During the same period last year, the firm earned $0.22 EPS. The firm's revenue for the quarter was up .9% on a year-over-year basis. On average, analysts forecast that Upwork Inc. will post 0.84 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group boosted their price target on shares of Upwork from $18.00 to $19.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Scotiabank started coverage on Upwork in a report on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 target price on the stock. Roth Mkm cut their price target on Upwork from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $19.00 price target on shares of Upwork in a report on Tuesday, May 6th. Finally, Jefferies Financial Group cut their price objective on shares of Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $18.67.

Hedge Funds Weigh In On Upwork

A number of large investors have recently modified their holdings of UPWK. IFP Advisors Inc grew its holdings in Upwork by 3,492.8% during the first quarter. IFP Advisors Inc now owns 3,988 shares of the company's stock worth $52,000 after acquiring an additional 3,877 shares during the period. GAMMA Investing LLC grew its stake in shares of Upwork by 1,235.1% during the 1st quarter. GAMMA Investing LLC now owns 4,072 shares of the company's stock worth $53,000 after purchasing an additional 3,767 shares during the period. Nkcfo LLC purchased a new position in shares of Upwork in the 4th quarter valued at about $82,000. SBI Securities Co. Ltd. purchased a new position in shares of Upwork in the 4th quarter valued at about $84,000. Finally, KBC Group NV lifted its stake in shares of Upwork by 39.6% in the fourth quarter. KBC Group NV now owns 6,690 shares of the company's stock valued at $109,000 after purchasing an additional 1,899 shares during the period. 77.71% of the stock is owned by hedge funds and other 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.