Upwork Inc. (NASDAQ:UPWK) VP Sells $59,466.82 in Stock

by · The Markets Daily

Upwork Inc. (NASDAQ:UPWK – Get Free Report) VP Dave Bottoms sold 5,626 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $10.57, for a total transaction of $59,466.82. Following the completion of the transaction, the vice president now owns 15,196 shares of the company’s stock, valued at $160,621.72. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

  • On Tuesday, August 27th, Dave Bottoms sold 5,818 shares of Upwork stock. The shares were sold at an average price of $9.81, for a total transaction of $57,074.58.
  • On Monday, August 19th, Dave Bottoms sold 1,433 shares of Upwork stock. The stock was sold at an average price of $9.65, for a total value of $13,828.45.

Upwork Stock Down 0.6 %

Shares of NASDAQ UPWK opened at $10.71 on Friday. The company has a 50 day simple moving average of $10.30 and a 200 day simple moving average of $11.08. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.00 and a quick ratio of 3.00. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $16.36. The firm has a market cap of $1.43 billion, a PE ratio of 30.60 and a beta of 1.54.

Upwork (NASDAQ:UPWK – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $193.13 million during the quarter, compared to the consensus estimate of $193.05 million. Upwork had a net margin of 10.00% and a return on equity of 20.75%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) earnings per share. On average, research analysts forecast that Upwork Inc. will post 0.51 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on UPWK. UBS Group lowered their price target on Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group decreased their target price on Upwork from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group dropped their target price on shares of Upwork from $24.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Roth Mkm decreased their price target on shares of Upwork from $19.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Royal Bank of Canada lowered their price objective on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Two research 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 an average rating of “Moderate Buy” and a consensus target price of $15.70.

Get Our Latest Analysis on Upwork

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UPWK. Vanguard Group Inc. increased its stake in shares of Upwork by 5.1% in the first quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock valued at $196,115,000 after buying an additional 770,088 shares during the period. Divisadero Street Capital Management LP boosted its holdings in Upwork by 32.9% in the second quarter. Divisadero Street Capital Management LP now owns 3,320,912 shares of the company’s stock valued at $35,700,000 after acquiring an additional 822,518 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Upwork by 239.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock valued at $33,491,000 after purchasing an additional 1,589,693 shares during the period. Dimensional Fund Advisors LP increased its position in Upwork by 27.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,806,969 shares of the company’s stock valued at $19,424,000 after purchasing an additional 389,006 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Upwork by 71.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,635,602 shares of the company’s stock worth $17,572,000 after purchasing an additional 679,028 shares during the last quarter. 77.71% of the stock is owned by institutional investors.

Upwork Company Profile

(Get Free Report)

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.

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