Upwork (NASDAQ:UPWK) Stock Price Down 4.1% - Time to Sell?

Upwork Inc. (NASDAQ:UPWK - Get Free Report) dropped 4.1% during trading on Wednesday . The company traded as low as $15.15 and last traded at $14.73. Approximately 220,318 shares traded hands during trading, a decline of 90% from the average daily volume of 2,243,867 shares. The stock had previously closed at $15.36.

Analyst Upgrades and Downgrades

UPWK has been the subject of a number of research reports. Scotiabank initiated coverage on Upwork in a research report on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 price objective for the company. JMP Securities raised their price objective on Upwork from $18.00 to $20.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. BTIG Research lowered Upwork from a "buy" rating to a "neutral" rating in a research report on Friday, April 4th. Jefferies Financial Group decreased their price objective on Upwork from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, Citigroup restated an "outperform" rating on shares of Upwork in a research report on Friday, May 16th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.67.

Upwork Price Performance

The stock has a 50 day moving average of $14.69 and a two-hundred day moving average of $15.24. 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 firm has a market capitalization of $1.82 billion, a P/E ratio of 9.04 and a beta of 1.44.

Upwork (NASDAQ:UPWK - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.34 earnings per share for the quarter, beating 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 business 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 earned $0.22 EPS. The firm's revenue was up .9% compared to the same quarter last year. Sell-side analysts predict that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Upwork

In other news, insider Dave Bottoms sold 1,620 shares of Upwork stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $16.41, for a total transaction of $26,584.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Leela Srinivasan sold 3,314 shares of Upwork stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $15.36, for a total value of $50,903.04. Following the sale, the director now directly owns 79,469 shares in the company, valued at $1,220,643.84. The trade was a 4.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 516,702 shares of company stock valued at $8,776,326 in the last 90 days. 7.50% of the stock is currently owned by insiders.

Institutional Trading of Upwork

Several institutional investors have recently modified their holdings of UPWK. IFP Advisors Inc grew its holdings in shares of Upwork by 3,492.8% during the 1st quarter. IFP Advisors Inc now owns 3,988 shares of the company's stock worth $52,000 after purchasing an additional 3,877 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Upwork by 1,235.1% during the 1st quarter. GAMMA Investing LLC now owns 4,072 shares of the company's stock worth $53,000 after purchasing an additional 3,767 shares in the last quarter. Nkcfo LLC acquired a new stake in shares of Upwork during the 4th quarter worth approximately $82,000. SBI Securities Co. Ltd. acquired a new stake in shares of Upwork during the 4th quarter worth approximately $84,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Upwork during the 1st quarter worth approximately $130,000. 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.