Erica Gessert Sells 4,491 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 4,491 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $10.57, for a total value of $47,469.87. Following the sale, the chief financial officer now owns 111,255 shares of the company’s stock, valued at approximately $1,175,965.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, August 19th, Erica Gessert sold 20,353 shares of Upwork stock. The stock was sold at an average price of $9.65, for a total value of $196,406.45.

Upwork Stock Down 0.6 %

NASDAQ UPWK opened at $10.71 on Friday. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 0.99. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $16.36. The stock’s 50 day moving average is $10.30 and its 200 day moving average is $11.08. The stock has a market cap of $1.43 billion, a PE ratio of 30.60 and a beta of 1.54.

Upwork (NASDAQ:UPWK) last issued its earnings results on Wednesday, August 7th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $193.13 million during 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 revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) earnings per share. Research analysts predict that Upwork Inc. will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UPWK. Plato Investment Management Ltd bought a new stake in shares of Upwork in the second quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Upwork during the 2nd quarter worth approximately $29,000. Quadrant Capital Group LLC raised its holdings in shares of Upwork by 67.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock worth $30,000 after acquiring an additional 803 shares in the last quarter. Quarry LP boosted its position in shares of Upwork by 104.2% during the 2nd quarter. Quarry LP now owns 4,350 shares of the company’s stock valued at $47,000 after acquiring an additional 2,220 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Upwork in the first quarter valued at $49,000. Institutional investors own 77.71% of the company’s stock.

Wall Street Analyst Weigh In

UPWK has been the topic of several recent research reports. Canaccord Genuity Group lowered their price objective on shares of Upwork from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada decreased their price target on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. UBS Group cut their price objective on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Piper Sandler reduced their price objective on Upwork from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group decreased their target price on shares of Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.70.

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.