Upwork Inc. (NASDAQ:UPWK) Insider Dave Bottoms Sells 11,562 Shares

Upwork Inc. (NASDAQ:UPWK - Get Free Report) insider Dave Bottoms sold 11,562 shares of Upwork stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $13.51, for a total value of $156,202.62. Following the sale, the insider now owns 9,345 shares in the company, valued at $126,250.95. This trade represents a 55.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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 shares were sold at an average price of $17.14, for a total value of $17,294.26.

Upwork Price Performance

Shares of UPWK traded down $0.07 during trading hours on Monday, reaching $13.07. The company had a trading volume of 3,287,541 shares, compared to its average volume of 2,279,736. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 7.83 and a beta of 1.44. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14. The firm has a 50 day simple moving average of $14.76 and a 200-day simple moving average of $15.10. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.60.

Upwork (NASDAQ:UPWK - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.09. The firm had revenue of $192.71 million during the quarter, compared to the consensus estimate of $188.49 million. Upwork had a return on equity of 48.38% and a net margin of 30.46%. Upwork's quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. Research analysts expect that Upwork Inc. will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UPWK. Price T Rowe Associates Inc. MD increased its holdings in Upwork by 51.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company's stock valued at $253,405,000 after acquiring 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 first quarter. LSV Asset Management now owns 5,351,406 shares of the company's stock valued at $69,836,000 after purchasing an additional 4,199,244 shares during the last quarter. Nuveen LLC purchased a new position in shares of Upwork during the 1st quarter worth approximately $22,079,000. Invesco Ltd. increased its stake in shares of Upwork by 1,674.0% during the 4th quarter. Invesco Ltd. now owns 1,748,320 shares of the company's stock worth $28,585,000 after purchasing an additional 1,649,766 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of Upwork by 86.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company's stock worth $54,005,000 after purchasing an additional 1,534,078 shares during the last quarter. Institutional investors and hedge funds own 77.71% of the company's stock.

Analyst Upgrades and Downgrades

UPWK has been the topic of a number of research reports. Citigroup restated an "outperform" rating on shares of Upwork in a research report on Friday, May 16th. JMP Securities increased their price target on shares of Upwork from $18.00 to $20.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. Scotiabank assumed coverage on shares of Upwork in a research report on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 price objective on the stock. BTIG Research cut shares of Upwork from a "buy" rating to a "neutral" rating in a report on Friday, April 4th. Finally, Jefferies Financial Group decreased their target price on shares of Upwork from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Four 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, Upwork currently has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.