Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms Sells 5,360 Shares

by · The Markets Daily

Upwork Inc. (NASDAQ:UPWK – Get Free Report) VP Dave Bottoms sold 5,360 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $17.11, for a total transaction of $91,709.60. Following the sale, the vice president now directly owns 9,642 shares in the company, valued at approximately $164,974.62. The trade was a 35.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Monday, November 18th, Dave Bottoms sold 1,396 shares of Upwork stock. The stock was sold at an average price of $15.13, for a total transaction of $21,121.48.
  • On Friday, November 15th, Dave Bottoms sold 983 shares of Upwork stock. The shares were sold at an average price of $14.94, for a total value of $14,686.02.
  • On Friday, November 8th, Dave Bottoms sold 10,508 shares of Upwork stock. The shares were sold at an average price of $15.86, for a total value of $166,656.88.

Upwork Stock Performance

Shares of Upwork stock opened at $16.44 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. The stock’s fifty day moving average is $14.77 and its two-hundred day moving average is $11.95. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. The company has a market capitalization of $2.20 billion, a PE ratio of 26.10 and a beta of 1.58.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on UPWK. JMP Securities raised their price objective on shares of Upwork from $14.00 to $18.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. BTIG Research increased their target price on shares of Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group lifted their price target on shares of Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group raised their price objective on Upwork from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their target price on Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.36.

Check Out Our Latest Stock Analysis on Upwork

Institutional Trading of Upwork

Several institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV increased its holdings in Upwork by 45.4% during the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after purchasing an additional 1,497 shares during the period. Quarry LP lifted its stake in Upwork by 42.6% in the third quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after acquiring an additional 1,851 shares during the period. Federated Hermes Inc. grew its holdings in Upwork by 0.6% during the 2nd quarter. Federated Hermes Inc. now owns 318,659 shares of the company’s stock worth $3,426,000 after acquiring an additional 1,996 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Upwork by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,809 shares of the company’s stock valued at $718,000 after purchasing an additional 2,063 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its position in shares of Upwork by 18.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company’s stock worth $143,000 after purchasing an additional 2,129 shares during the period. Institutional investors own 77.71% of the company’s stock.

About Upwork

(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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