Hayden Brown Sells 21,122 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 21,122 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total value of $341,120.30. Following the transaction, the chief executive officer now directly owns 1,275,083 shares of the company’s stock, valued at approximately $20,592,590.45. The trade was a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hayden Brown also recently made the following trade(s):

• On Wednesday, December 18th, Hayden Brown sold 8,997 shares of Upwork stock. The shares were sold at an average price of $17.12, for a total value of $154,028.64.
• On Monday, December 16th, Hayden Brown sold 20,000 shares of Upwork stock. The shares were sold at an average price of $16.84, for a total value of $336,800.00.
• On Wednesday, November 27th, Hayden Brown sold 15,000 shares of Upwork stock. The stock was sold at an average price of $17.00, for a total value of $255,000.00.

Upwork Stock Down 6.7 %

Shares of UPWK opened at $15.63 on Friday. The company’s 50-day simple moving average is $16.30 and its 200-day simple moving average is $13.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14. The stock has a market capitalization of $2.12 billion, a PE ratio of 10.22 and a beta of 1.57.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. Analysts forecast that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Upwork

A number of institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC boosted its holdings in Upwork by 71.9% in the third quarter. CWM LLC now owns 5,896 shares of the company’s stock valued at $62,000 after purchasing an additional 2,467 shares in the last quarter. Creative Planning acquired a new position in shares of Upwork in the 3rd quarter valued at $207,000. Assenagon Asset Management S.A. grew its position in shares of Upwork by 121.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 433,934 shares of the company’s stock valued at $4,535,000 after buying an additional 237,601 shares during the last quarter. Bristlecone Advisors LLC grew its position in shares of Upwork by 80.9% in the 3rd quarter. Bristlecone Advisors LLC now owns 42,023 shares of the company’s stock valued at $439,000 after buying an additional 18,792 shares during the last quarter. Finally, Smith Group Asset Management LLC raised its stake in Upwork by 24.9% during the 3rd quarter. Smith Group Asset Management LLC now owns 36,398 shares of the company’s stock worth $380,000 after acquiring an additional 7,252 shares in the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on UPWK shares. Citigroup raised their target price on Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Needham & Company LLC lifted their target price on shares of Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. BTIG Research increased their price target on shares of Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price target on shares of Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Roth Mkm lowered their price objective on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.91.

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.