Upwork Inc. (NASDAQ:UPWK) CEO Sells $341,120.30 in Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 21,122 shares of Upwork stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total transaction of $341,120.30. Following the completion of the sale, the chief executive officer now owns 1,275,083 shares of the company’s stock, valued at $20,592,590.45. This trade represents a 1.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hayden Brown also recently made the following trade(s):

• On Wednesday, December 18th, Hayden Brown sold 8,997 shares of Upwork stock. The stock was sold at an average price of $17.12, for a total transaction of $154,028.64.
• On Monday, December 16th, Hayden Brown sold 20,000 shares of Upwork stock. The shares were sold at an average price of $16.84, for a total value of $336,800.00.
• On Wednesday, November 27th, Hayden Brown sold 15,000 shares of Upwork stock. The stock was sold at an average price of $17.00, for a total value of $255,000.00.

Upwork Stock Performance

Shares of Upwork stock opened at $15.63 on Friday. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 10.22 and a beta of 1.57. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14. The company’s fifty day moving average is $16.30 and its 200 day moving average is $13.66.

Upwork (NASDAQ:UPWK) last released its earnings results 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 return on equity of 50.83% and a net margin of 28.02%. Sell-side analysts forecast that Upwork Inc. will post 0.84 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in Upwork by 51.8% in the fourth 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 during the period. Invesco Ltd. boosted its position in shares of Upwork by 1,674.0% during the 4th quarter. Invesco Ltd. now owns 1,748,320 shares of the company’s stock worth $28,585,000 after purchasing an additional 1,649,766 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of 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 valued at $54,005,000 after buying an additional 1,534,078 shares during the period. Contour Asset Management LLC bought a new stake in Upwork in the 4th quarter valued at about $24,633,000. Finally, LSV Asset Management acquired a new position in Upwork during the 4th quarter worth approximately $18,838,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on UPWK shares. The Goldman Sachs Group upped their target price on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Citigroup upped their price objective on shares of Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Needham & Company LLC raised their target price on shares of Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, February 13th. JMP Securities restated a “market outperform” rating and issued a $18.00 target price on shares of Upwork in a research report on Thursday, January 30th. Finally, Jefferies Financial Group increased their price target on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Upwork has an average rating of “Moderate Buy” and a consensus 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.