Upwork Inc. (NASDAQ:UPWK) Insider Dave Bottoms Sells 5,411 Shares

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 5,411 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $70,721.77. Following the transaction, the insider now directly owns 9,593 shares of the company’s stock, valued at $125,380.51. The trade was a 36.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Tuesday, February 18th, Dave Bottoms sold 1,543 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total value of $24,919.45.

Upwork Price Performance

Shares of NASDAQ:UPWK opened at $13.57 on Friday. The stock’s 50 day moving average is $15.39 and its 200-day moving average is $14.27. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 8.87 and a beta of 1.61.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. Sell-side analysts forecast that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Institutional Trading of Upwork

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings in Upwork by 51.8% during 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. grew its holdings in Upwork by 86.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company’s stock worth $54,005,000 after buying an additional 1,534,078 shares in the last quarter. Dorsey Asset Management LLC grew its holdings in Upwork by 15.0% during the fourth quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company’s stock worth $49,788,000 after buying an additional 397,997 shares in the last quarter. Two Sigma Investments LP grew its stake 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 acquiring an additional 803,929 shares in the last quarter. Finally, Invenomic Capital Management LP grew its stake 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 acquiring an additional 260,274 shares in the last quarter. 77.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Roth Mkm lowered their price objective on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Scotiabank initiated coverage on shares of Upwork in a report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price target for the company. Needham & Company LLC lifted their target price on shares of Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and set a $18.00 target price on shares of Upwork in a research note on Thursday, January 30th. Finally, Citigroup lifted their price objective on Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Upwork presently has a consensus rating of “Moderate Buy” and an average target price of $18.58.

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.