Insider Selling: Upwork Inc. (NASDAQ:UPWK) Director Sells 3,314 Shares of Stock

Upwork Inc. (NASDAQ:UPWK - Get Free Report) Director Leela Srinivasan sold 3,314 shares of the firm's stock in a transaction that occurred 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 directly owns 79,469 shares in the company, valued at approximately $1,220,643.84. The trade was a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 Price Performance

NASDAQ UPWK traded up $0.08 during trading hours on Monday, hitting $15.48. 1,413,975 shares of the company's stock traded hands, compared to its average volume of 2,250,694. The company has a market capitalization of $2.04 billion, a PE ratio of 10.12 and a beta of 1.44. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14. The firm's 50-day moving average is $14.45 and its 200-day moving average is $15.29.

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

Hedge Funds Weigh In On Upwork

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UPWK. KBC Group NV raised its holdings in shares of Upwork by 39.6% during the 4th quarter. KBC Group NV now owns 6,690 shares of the company's stock worth $109,000 after acquiring an additional 1,899 shares during the period. Stoneridge Investment Partners LLC increased its position in Upwork by 19.9% during the fourth quarter. Stoneridge Investment Partners LLC now owns 16,566 shares of the company's stock worth $271,000 after purchasing an additional 2,744 shares during the last quarter. Bristlecone Advisors LLC raised its stake in Upwork by 54.9% during the fourth quarter. Bristlecone Advisors LLC now owns 65,113 shares of the company's stock worth $1,065,000 after purchasing an additional 23,090 shares during the period. Rhumbline Advisers raised its stake in Upwork by 1.4% during the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company's stock worth $2,914,000 after purchasing an additional 2,387 shares during the period. Finally, Nkcfo LLC acquired a new position in Upwork in the 4th quarter valued at about $82,000. Institutional investors and hedge funds own 77.71% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Needham & Company LLC reissued a "buy" rating and issued a $19.00 price target on shares of Upwork in a report on Tuesday, May 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $18.00 price objective on shares of Upwork in a report on Monday, June 2nd. Roth Mkm cut their target price on shares of Upwork from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. JMP Securities upped their price target on shares of Upwork from $18.00 to $20.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. Finally, UBS Group raised their price target on shares of Upwork from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.67.

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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