Hayden Brown Sells 9,075 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 9,075 shares of Upwork stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total value of $118,610.25. Following the transaction, the chief executive officer now directly owns 1,223,741 shares in the company, valued at approximately $15,994,294.87. The trade was a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, March 7th, Hayden Brown sold 60,000 shares of Upwork stock. The shares were sold at an average price of $14.20, for a total transaction of $852,000.00.
• On Tuesday, February 18th, Hayden Brown sold 21,122 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total transaction of $341,120.30.

Upwork Stock Up 0.9 %

UPWK stock opened at $13.57 on Friday. The company has a 50 day moving average of $15.39 and a two-hundred day moving average of $14.27. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 8.87 and a beta of 1.61.

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

Institutional Investors Weigh In On Upwork

Several large investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in Upwork by 133.5% in the third quarter. Victory Capital Management Inc. now owns 116,899 shares of the company’s stock worth $1,222,000 after purchasing an additional 66,842 shares in the last quarter. KBC Group NV lifted its position in shares of Upwork by 45.4% in the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after buying an additional 1,497 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of Upwork by 18.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company’s stock worth $143,000 after acquiring an additional 2,129 shares in the last quarter. King Luther Capital Management Corp increased its holdings in shares of Upwork by 23.6% during the 3rd quarter. King Luther Capital Management Corp now owns 261,166 shares of the company’s stock valued at $2,729,000 after acquiring an additional 49,903 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Upwork in the 3rd quarter valued at approximately $401,000. Institutional investors own 77.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Roth Mkm dropped 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. Citigroup upped their target price on Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Scotiabank initiated coverage on Upwork in a research note on Wednesday, March 12th. They issued a “sector perform” rating and a $15.00 price target on the stock. UBS Group upped their price objective on shares of Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group lifted 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. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.