Upwork Inc. (NASDAQ:UPWK) Insider Sells $156,202.62 in Stock

Upwork Inc. (NASDAQ:UPWK - Get Free Report) insider Dave Bottoms sold 11,562 shares of the firm'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 transaction of $156,202.62. Following the sale, the insider now owns 9,345 shares of the company's stock, valued at $126,250.95. This trade represents a 55.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Dave Bottoms also recently made the following trade(s):

• On Tuesday, May 20th, Dave Bottoms sold 1,620 shares of Upwork stock. The shares were sold at an average price of $16.41, for a total value of $26,584.20.
• On Monday, May 19th, Dave Bottoms sold 2,130 shares of Upwork stock. The stock was sold at an average price of $16.66, for a total value of $35,485.80.
• On Thursday, May 15th, Dave Bottoms sold 1,009 shares of Upwork stock. The stock was sold at an average price of $17.14, for a total value of $17,294.26.

Upwork Price Performance

NASDAQ:UPWK traded up $0.19 during trading hours on Thursday, hitting $13.57. The company's stock had a trading volume of 2,439,697 shares, compared to its average volume of 2,298,243. 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 0.60, a current ratio of 3.41 and a quick ratio of 3.41. The stock has a fifty day simple moving average of $14.81 and a 200-day simple moving average of $15.02. The company has a market capitalization of $1.79 billion, a P/E ratio of 8.13 and a beta of 1.44.

Upwork (NASDAQ:UPWK - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. The firm had revenue of $192.71 million during the quarter, compared to analysts' expectations of $188.49 million. Upwork had a net margin of 30.46% and a return on equity of 48.38%. The business's revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. On average, analysts anticipate that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Institutional Trading of Upwork

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings 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 worth $253,405,000 after buying an additional 5,289,493 shares in the last quarter. LSV Asset Management grew its position in Upwork by 364.5% during the 1st quarter. LSV Asset Management now owns 5,351,406 shares of the company's stock worth $69,836,000 after acquiring an additional 4,199,244 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Upwork by 41.1% in the 1st 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 in the last quarter. Dorsey Asset Management LLC raised its position in Upwork by 15.0% in the fourth quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company's stock valued at $49,788,000 after purchasing an additional 397,997 shares during the last quarter. Finally, Invesco Ltd. raised its position in 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 last quarter. Institutional investors and hedge funds own 77.71% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup restated an "outperform" rating on shares of Upwork in a research note on Friday, May 16th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $18.00 price objective on shares of Upwork in a report on Monday, June 2nd. JMP Securities increased their price target on Upwork from $18.00 to $20.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. Jefferies Financial Group dropped their price target on Upwork from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price objective on shares of Upwork in a research report 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.