Dave Bottoms Sells 2,130 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

by · The Markets Daily

Upwork Inc. (NASDAQ:UPWK – Get Free Report) insider Dave Bottoms sold 2,130 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $16.66, for a total value of $35,485.80. Following the transaction, the insider now owns 1,620 shares of the company’s stock, valued at approximately $26,989.20. The trade was a 56.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Thursday, May 15th, Dave Bottoms sold 1,009 shares of Upwork stock. The shares were sold at an average price of $17.14, for a total value of $17,294.26.
  • On Tuesday, March 18th, Dave Bottoms sold 5,411 shares of Upwork stock. The shares were sold at an average price of $13.07, for a total value of $70,721.77.
  • 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 value of $24,919.45.

Upwork Price Performance

Shares of UPWK stock opened at $16.22 on Thursday. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 10.60 and a beta of 1.52. The stock has a fifty day simple moving average of $13.94 and a two-hundred day simple moving average of $15.26. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62.

Upwork (NASDAQ:UPWK – Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The firm had revenue of $192.71 million during the quarter, compared to analysts’ expectations of $188.49 million. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 EPS. On average, analysts predict that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Upwork

A number of hedge funds have recently made changes to their positions in UPWK. Financial Management Professionals Inc. purchased a new stake in shares of Upwork during the 4th quarter worth $97,000. KBC Group NV lifted its stake in shares of Upwork by 39.6% during the 4th quarter. KBC Group NV now owns 6,690 shares of the company’s stock worth $109,000 after purchasing an additional 1,899 shares during the last quarter. Stoneridge Investment Partners LLC lifted its stake in shares of Upwork by 19.9% during the 4th quarter. Stoneridge Investment Partners LLC now owns 16,566 shares of the company’s stock worth $271,000 after purchasing an additional 2,744 shares during the last quarter. Bristlecone Advisors LLC lifted its stake in shares of Upwork by 54.9% during the 4th quarter. Bristlecone Advisors LLC now owns 65,113 shares of the company’s stock worth $1,065,000 after purchasing an additional 23,090 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Upwork by 1.4% during the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock worth $2,914,000 after purchasing an additional 2,387 shares during the last quarter. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UPWK has been the subject of a number of recent analyst reports. Scotiabank initiated coverage on Upwork in a report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price objective for the company. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 price objective on shares of Upwork in a report on Tuesday, May 6th. Citigroup reiterated an “outperform” rating on shares of Upwork in a report on Friday, May 16th. JMP Securities upped their target price on Upwork from $18.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, May 16th. Finally, BTIG Research cut Upwork from a “buy” rating to a “neutral” rating in a report on Friday, April 4th. Four investment 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 an average rating of “Moderate Buy” and a consensus price target of $18.67.

View Our Latest Stock Analysis on UPWK

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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