Dave Bottoms Sells 1,543 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) VP Dave Bottoms sold 1,543 shares of Upwork stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total transaction of $24,919.45. Following the transaction, the vice president now directly owns 2,207 shares in the company, valued at $35,643.05. This trade represents a 41.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, December 18th, Dave Bottoms sold 5,360 shares of Upwork stock. The stock was sold at an average price of $17.11, for a total transaction of $91,709.60.

Upwork Stock Down 6.7 %

Shares of NASDAQ UPWK opened at $15.63 on Friday. 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 Inc. has a 12 month low of $8.43 and a 12 month high of $18.14. The firm has a market capitalization of $2.12 billion, a PE ratio of 10.22 and a beta of 1.57. The firm has a fifty day simple moving average of $16.30 and a two-hundred day simple moving average of $13.64.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 EPS 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%. Equities analysts expect that Upwork Inc. will post 0.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on UPWK shares. Canaccord Genuity Group lifted their price target on shares of Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price target on shares of Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. UBS Group lifted their price target on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Jefferies Financial Group lifted their target price on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 target price (up from $13.00) on shares of Upwork in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Upwork has an average rating of “Moderate Buy” and a consensus price target of $18.91.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in Upwork by 51.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock worth $253,405,000 after purchasing an additional 5,289,493 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Upwork by 86.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company’s stock worth $54,005,000 after purchasing an additional 1,534,078 shares in the last quarter. Dorsey Asset Management LLC raised its holdings in Upwork by 15.0% in the 4th quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company’s stock worth $49,788,000 after purchasing an additional 397,997 shares in the last quarter. Two Sigma Investments LP grew its position in shares of Upwork by 49.2% in the 4th quarter. Two Sigma Investments LP now owns 2,436,680 shares of the company’s stock worth $39,840,000 after buying an additional 803,929 shares during the period. Finally, Invenomic Capital Management LP grew its position in shares of Upwork by 12.5% in the 3rd quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company’s stock worth $24,397,000 after buying an additional 260,274 shares during the period. 77.71% of the stock is currently owned by institutional investors.

About Upwork

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.