Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms Sells 983 Shares

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 983 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $14.94, for a total value of $14,686.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, November 18th, Dave Bottoms sold 1,396 shares of Upwork stock. The shares were sold at an average price of $15.13, for a total value of $21,121.48.
• On Friday, November 8th, Dave Bottoms sold 10,508 shares of Upwork stock. The stock was sold at an average price of $15.86, for a total transaction of $166,656.88.
• On Wednesday, September 18th, Dave Bottoms sold 5,626 shares of Upwork stock. The shares were sold at an average price of $10.57, for a total transaction of $59,466.82.
• On Tuesday, August 27th, Dave Bottoms sold 5,818 shares of Upwork stock. The stock was sold at an average price of $9.81, for a total value of $57,074.58.

Upwork Price Performance

Shares of NASDAQ UPWK opened at $14.93 on Wednesday. The firm has a market capitalization of $2.00 billion, a P/E ratio of 23.70 and a beta of 1.49. 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 50-day simple moving average is $11.94 and its two-hundred day simple moving average is $11.15. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $17.79.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $18.00 price target (up previously from $13.00) on shares of Upwork in a research note on Thursday, November 7th. Roth Mkm upped their target price on shares of Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their price objective on shares of Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. BTIG Research raised their target price on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, JMP Securities increased their price target on shares of Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Upwork currently has an average rating of “Moderate Buy” and an average price target of $17.00.

Institutional Investors Weigh In On Upwork

A number of institutional investors have recently made changes to their positions in the business. KBC Group NV grew its position 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 acquiring an additional 1,497 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Upwork by 8.6% in the first quarter. ProShare Advisors LLC now owns 22,483 shares of the company’s stock valued at $276,000 after acquiring an additional 1,771 shares during the period. Quarry LP raised its stake in shares of Upwork by 42.6% during the third quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after acquiring an additional 1,851 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Upwork by 0.6% during the second quarter. Federated Hermes Inc. now owns 318,659 shares of the company’s stock worth $3,426,000 after purchasing an additional 1,996 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Upwork by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 66,809 shares of the company’s stock worth $718,000 after purchasing an additional 2,063 shares during the last quarter. Hedge funds and other 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.