Upwork Inc. (NASDAQ:UPWK) Director Leela Srinivasan Sells 6,520 Shares

Upwork Inc. (NASDAQ:UPWK - Get Free Report) Director Leela Srinivasan sold 6,520 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $15.16, for a total transaction of $98,843.20. Following the completion of the sale, the director now directly owns 82,783 shares in the company, valued at approximately $1,254,990.28. The trade was a 7.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, June 6th, Leela Srinivasan sold 3,314 shares of Upwork stock. The shares were sold at an average price of $15.36, for a total value of $50,903.04.

Upwork Trading Down 0.7%

Upwork stock traded down $0.10 during midday trading on Thursday, reaching $14.47. The stock had a trading volume of 1,659,699 shares, compared to its average volume of 2,262,004. The stock's 50-day simple moving average is $14.65 and its 200 day simple moving average is $15.27. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The stock has a market capitalization of $1.90 billion, a PE ratio of 9.46 and a beta of 1.44.

Upwork (NASDAQ:UPWK - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.34 EPS 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 for the quarter, compared to the consensus estimate of $188.49 million. During the same period last year, the business posted $0.22 EPS. The company's quarterly revenue was up .9% compared to the same quarter last year. Analysts expect that Upwork Inc. will post 0.84 EPS for the current year.

Institutional Investors Weigh In On Upwork

Several institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in shares of Upwork by 51.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company's stock valued at $253,405,000 after purchasing an additional 5,289,493 shares during the period. LSV Asset Management raised its holdings in shares of Upwork by 364.5% during the first quarter. LSV Asset Management now owns 5,351,406 shares of the company's stock worth $69,836,000 after purchasing an additional 4,199,244 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Upwork by 41.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,660,511 shares of the company's stock valued at $60,820,000 after acquiring an additional 1,357,476 shares during the period. Dorsey Asset Management LLC grew its stake in Upwork by 15.0% during the 4th quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company's stock worth $49,788,000 after buying an additional 397,997 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Upwork by 50.5% during the first quarter. Invesco Ltd. now owns 2,630,379 shares of the company's stock worth $34,326,000 after acquiring an additional 882,059 shares during the last quarter. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UPWK has been the topic of several recent analyst reports. Citigroup reissued an "outperform" rating on shares of Upwork in a research note on Friday, May 16th. UBS Group boosted their price target on Upwork from $18.00 to $19.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Roth Mkm reduced 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. JMP Securities raised their price objective on Upwork from $18.00 to $20.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $19.00 target price on shares of Upwork in a research note on Tuesday, May 6th. Four equities research 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.