Upwork Inc. (NASDAQ:UPWK) Director Sells $98,843.20 in Stock

Upwork Inc. (NASDAQ:UPWK - Get Free Report) Director Leela Srinivasan sold 6,520 shares of the company's stock in a transaction that occurred on 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 transaction, the director now owns 82,783 shares in the company, valued at approximately $1,254,990.28. This represents a 7.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

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

Upwork Trading Up 0.5%

Shares of NASDAQ:UPWK traded up $0.08 during midday trading on Monday, hitting $15.48. The company had a trading volume of 1,413,975 shares, compared to its average volume of 2,250,694. 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 Inc. has a 12 month low of $8.43 and a 12 month high of $18.14. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 10.12 and a beta of 1.44. The firm has a fifty day simple moving average of $14.45 and a 200 day simple moving average of $15.29.

Upwork (NASDAQ:UPWK - Get Free Report) last announced its quarterly earnings results 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 net margin of 28.02% and a return on equity of 50.83%. The company had revenue of $192.71 million for the quarter, compared to analysts' expectations of $188.49 million. During the same period last year, the firm posted $0.22 earnings per share. The business's quarterly revenue was up .9% compared to the same quarter last year. On average, analysts predict that Upwork Inc. will post 0.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on UPWK shares. UBS Group boosted their price target on Upwork from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Wall Street Zen raised Upwork from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Roth Mkm decreased their target price on shares of Upwork from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Scotiabank initiated coverage on shares of Upwork in a report on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 price target for the company. Finally, JMP Securities raised their target price on Upwork from $18.00 to $20.00 and gave the company a "market outperform" rating in a research note on Friday, May 16th. Four research 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $18.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in UPWK. Price T Rowe Associates Inc. MD lifted its holdings in shares of Upwork by 51.8% in 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 in the last quarter. LSV Asset Management grew its position in shares of Upwork by 364.5% in the 1st quarter. LSV Asset Management now owns 5,351,406 shares of the company's stock valued at $69,836,000 after acquiring an additional 4,199,244 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Upwork by 41.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,660,511 shares of the company's stock worth $60,820,000 after purchasing an additional 1,357,476 shares during the period. Dorsey Asset Management LLC increased its holdings in shares of 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 acquiring an additional 397,997 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Upwork by 50.5% in the first quarter. Invesco Ltd. now owns 2,630,379 shares of the company's stock valued at $34,326,000 after purchasing an additional 882,059 shares during the period. Institutional investors and hedge funds own 77.71% of the company's stock.

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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