Upwork Inc. (NASDAQ:UPWK) Insider Dave Bottoms Sells 5,411 Shares of Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 5,411 shares of Upwork stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total transaction of $70,721.77. Following the sale, the insider now directly owns 9,593 shares in the company, valued at approximately $125,380.51. This trade represents a 36.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, February 18th, Dave Bottoms sold 1,543 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total transaction of $24,919.45.

Upwork Price Performance

UPWK stock opened at $13.45 on Friday. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 8.79 and a beta of 1.61. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two 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 business has a 50 day moving average price of $15.43 and a 200 day moving average price of $14.24.

Upwork (NASDAQ:UPWK) last issued its earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (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%. Equities research analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Upwork

Several hedge funds have recently made changes to their positions in the company. KBC Group NV boosted its position in shares of Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after purchasing an additional 1,497 shares during the period. Nkcfo LLC purchased a new stake in Upwork in the fourth quarter valued at approximately $82,000. SBI Securities Co. Ltd. acquired a new stake in shares of Upwork in the fourth quarter valued at approximately $84,000. Financial Management Professionals Inc. purchased a new position in shares of Upwork during the fourth quarter worth approximately $97,000. Finally, Quarry LP increased its holdings in shares of Upwork by 42.6% in the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after acquiring an additional 1,851 shares during the period. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Analyst Upgrades and Downgrades

UPWK has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on shares of Upwork from $16.00 to $18.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Jefferies Financial Group increased their price target on Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, January 6th. JMP Securities reissued a “market outperform” rating and set a $18.00 price objective on shares of Upwork in a research note on Thursday, January 30th. Roth Mkm reduced their price target on Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Needham & Company LLC upped their price objective on shares of Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Upwork has a consensus rating of “Moderate Buy” and an average price target of $18.58.

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.