Hayden Brown Sells 8,997 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 8,997 shares of Upwork stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $17.12, for a total value of $154,028.64. Following the sale, the chief executive officer now directly owns 1,238,156 shares of the company’s stock, valued at approximately $21,197,230.72. This trade represents a 0.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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.
• On Monday, November 18th, Hayden Brown sold 30,672 shares of Upwork stock. The stock was sold at an average price of $15.13, for a total transaction of $464,067.36.
• On Friday, November 8th, Hayden Brown sold 10,000 shares of Upwork stock. The shares were sold at an average price of $15.85, for a total transaction of $158,500.00.

Upwork Trading Down 2.1 %

UPWK opened at $16.24 on Friday. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.87. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. The stock has a market cap of $2.17 billion, a PE ratio of 25.78 and a beta of 1.58. The business has a 50 day moving average of $14.65 and a 200-day moving average of $11.92.

Upwork (NASDAQ:UPWK) last announced its earnings results on Wednesday, November 6th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $193.78 million for the quarter, compared to analysts’ expectations of $185.55 million. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 EPS. Equities research analysts predict that Upwork Inc. will post 0.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on UPWK shares. Canaccord Genuity Group upped their price target on shares of Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their target price on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group lifted their price target on Upwork from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Roth Mkm increased their price objective on Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, JMP Securities lifted their target price on shares of Upwork from $14.00 to $18.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.36.

Hedge Funds Weigh In On Upwork

A number of institutional investors and hedge funds have recently made changes to their positions in UPWK. Canada Pension Plan Investment Board boosted its position in shares of Upwork by 186.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 306,900 shares of the company’s stock worth $3,299,000 after purchasing an additional 199,900 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Upwork in the third quarter worth $858,000. Victory Capital Management Inc. grew its stake in shares of 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 acquiring an additional 66,842 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Upwork during the second quarter valued at $1,637,000. Finally, BNP Paribas Financial Markets raised its position in shares of Upwork by 40.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company’s stock worth $2,630,000 after purchasing an additional 73,104 shares during the last quarter. 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.