Insider Selling: Upwork Inc. (NASDAQ:UPWK) CEO Sells $200,200.00 in Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $10.01, for a total transaction of $200,200.00. Following the sale, the chief executive officer now directly owns 1,170,561 shares in the company, valued at approximately $11,717,315.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, September 18th, Hayden Brown sold 9,444 shares of Upwork stock. The stock was sold at an average price of $10.57, for a total transaction of $99,823.08.
• On Monday, August 19th, Hayden Brown sold 31,506 shares of Upwork stock. The stock was sold at an average price of $9.65, for a total transaction of $304,032.90.

Upwork Stock Performance

NASDAQ:UPWK opened at $10.71 on Friday. The firm’s fifty day moving average price is $10.30 and its 200 day moving average price is $11.10. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $16.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.00 and a quick ratio of 3.00. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 30.60 and a beta of 1.54.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $193.13 million for the quarter, compared to analyst estimates of $193.05 million. Upwork had a net margin of 10.00% and a return on equity of 20.75%. Upwork’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm posted ($0.03) EPS. On average, sell-side analysts expect that Upwork Inc. will post 0.51 EPS for the current year.

Institutional Investors Weigh In On Upwork

Institutional investors have recently made changes to their positions in the stock. New Century Financial Group LLC purchased a new stake in shares of Upwork during the 1st quarter worth $1,083,000. Vanguard Group Inc. boosted its position in shares of Upwork by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock worth $196,115,000 after purchasing an additional 770,088 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Upwork by 239.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock worth $33,491,000 after purchasing an additional 1,589,693 shares in the last quarter. Csenge Advisory Group purchased a new stake in shares of Upwork during the 1st quarter worth $1,344,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of Upwork in the 1st quarter worth about $3,165,000. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on UPWK. Roth Mkm cut their target price on shares of Upwork from $19.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, August 16th. The Goldman Sachs Group cut their target price on shares of Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group cut their target price on shares of Upwork from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Piper Sandler cut their target price on shares of Upwork from $20.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, UBS Group cut their target price on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Upwork presently has a consensus rating of “Moderate Buy” and an average target price of $15.70.

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.