Upwork Inc. (NASDAQ:UPWK) CFO Sells $46,368.14 in Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 4,537 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $10.22, for a total transaction of $46,368.14. Following the completion of the transaction, the chief financial officer now owns 90,166 shares of the company’s stock, valued at $921,496.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Erica Gessert also recently made the following trade(s):

• On Monday, May 20th, Erica Gessert sold 69,940 shares of Upwork stock. The shares were sold at an average price of $11.61, for a total transaction of $812,003.40.

Upwork Trading Up 0.9 %

UPWK stock opened at $10.66 on Thursday. The firm has a fifty day moving average price of $11.23 and a 200 day moving average price of $12.75. Upwork Inc. has a fifty-two week low of $8.49 and a fifty-two week high of $16.36. The firm has a market cap of $1.42 billion, a PE ratio of 30.46 and a beta of 1.56. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.93 and a current ratio of 2.93.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $190.94 million during the quarter, compared to analysts’ expectations of $186.71 million. Upwork had a net margin of 6.70% and a return on equity of 13.96%. Sell-side analysts anticipate that Upwork Inc. will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Upwork

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners purchased a new position in shares of Upwork in the 1st quarter worth approximately $1,384,000. SkyView Investment Advisors LLC lifted its position in Upwork by 17.8% in the first quarter. SkyView Investment Advisors LLC now owns 186,393 shares of the company’s stock worth $2,285,000 after buying an additional 28,139 shares during the last quarter. Invenomic Capital Management LP lifted its position in Upwork by 132.5% in the first quarter. Invenomic Capital Management LP now owns 964,641 shares of the company’s stock worth $11,826,000 after buying an additional 549,733 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Upwork during the first quarter worth $1,987,000. Finally, Bayesian Capital Management LP bought a new position in Upwork during the first quarter valued at $567,000. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UPWK has been the topic of several research analyst reports. BTIG Research upgraded Upwork from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Thursday, May 2nd. Royal Bank of Canada lowered their price target on Upwork from $18.00 to $15.00 and set a “sector perform” rating on the stock in a report on Thursday, May 2nd. Roth Mkm reaffirmed a “buy” rating and set a $19.00 price objective on shares of Upwork in a report on Wednesday, May 15th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Upwork in a research report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.80.

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.