Elizabeth A. Nelson Sells 75,000 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) Director Elizabeth A. Nelson sold 75,000 shares of Upwork stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $17.58, for a total transaction of $1,318,500.00. Following the completion of the transaction, the director now directly owns 16,299 shares of the company’s stock, valued at approximately $286,536.42. This represents a 82.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Upwork Price Performance

UPWK stock traded down $1.13 during trading on Friday, hitting $15.63. The company had a trading volume of 2,612,529 shares, compared to its average volume of 2,699,486. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 10.22 and a beta of 1.57. The business has a 50 day moving average of $16.30 and a 200 day moving average of $13.64. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14. 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) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. As a group, research analysts predict that Upwork Inc. will post 0.84 earnings per share for the current year.

Institutional Investors Weigh In On Upwork

Institutional investors have recently bought and sold shares of the stock. KBC Group NV lifted its holdings in Upwork by 45.4% in the third 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. CWM LLC raised its position in Upwork by 71.9% in the third quarter. CWM LLC now owns 5,896 shares of the company’s stock worth $62,000 after acquiring an additional 2,467 shares in the last quarter. Quarry LP raised its position 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 in the last quarter. Nkcfo LLC bought a new stake in Upwork in the fourth quarter worth about $82,000. Finally, SBI Securities Co. Ltd. bought a new stake in Upwork in the fourth quarter worth about $84,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Wall Street Analyst Weigh In

UPWK has been the subject of a number of research reports. UBS Group lifted their price objective on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Jefferies Financial Group lifted their price objective on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price objective (up previously from $13.00) on shares of Upwork in a report on Thursday, November 7th. Needham & Company LLC boosted their price target on shares of Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Citigroup boosted their price target on shares of Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.91.

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.