Insider Selling: Upwork Inc. (NASDAQ:UPWK) CFO Sells 13,765 Shares of Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 13,765 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total transaction of $222,304.75. Following the completion of the sale, the chief financial officer now directly owns 156,828 shares of the company’s stock, valued at approximately $2,532,772.20. This trade represents a 8.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Erica Gessert also recently made the following trade(s):

• On Wednesday, December 18th, Erica Gessert sold 4,279 shares of Upwork stock. The stock was sold at an average price of $17.11, for a total transaction of $73,213.69.

Upwork Price Performance

UPWK stock opened at $15.63 on Friday. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $16.30 and a two-hundred day simple moving average of $13.66. The firm has a market capitalization of $2.12 billion, a P/E ratio of 10.22 and a beta of 1.57.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data 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 anticipate that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on UPWK shares. JMP Securities reissued a “market outperform” rating and issued a $18.00 price objective on shares of Upwork in a research note on Thursday, January 30th. UBS Group increased their price objective on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Needham & Company LLC upped their target price on shares of Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Royal Bank of Canada upped their target price on shares of Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group upped their target price on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.91.

Institutional Investors Weigh In On Upwork

Institutional investors have recently made changes to their positions in the company. KBC Group NV lifted its holdings in shares of Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after acquiring an additional 1,497 shares during the last quarter. CWM LLC increased its stake in Upwork by 71.9% in the 3rd quarter. CWM LLC now owns 5,896 shares of the company’s stock worth $62,000 after buying an additional 2,467 shares during the period. Quarry LP increased its stake in Upwork by 42.6% in the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after buying an additional 1,851 shares during the period. Nkcfo LLC purchased a new position in Upwork in the 4th quarter worth about $82,000. Finally, SBI Securities Co. Ltd. purchased a new position in Upwork in the 4th quarter worth about $84,000. Institutional investors 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.