Erica Gessert Sells 13,765 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 13,765 shares of Upwork stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total transaction of $222,304.75. Following the sale, the chief financial officer now directly owns 156,828 shares of the company’s stock, valued at $2,532,772.20. This trade represents a 8.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, December 18th, Erica Gessert sold 4,279 shares of Upwork stock. The stock was sold at an average price of $17.11, for a total value of $73,213.69.

Upwork Price Performance

Shares of Upwork stock opened at $15.63 on Friday. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14. The firm has a fifty day simple moving average of $16.30 and a 200-day simple moving average of $13.64. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 10.22 and a beta of 1.57.

Upwork (NASDAQ:UPWK) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) 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%. On average, sell-side analysts expect that Upwork Inc. will post 0.84 earnings per share for the current year.

Institutional Trading of Upwork

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV boosted its position in shares of Upwork by 45.4% in the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after acquiring an additional 1,497 shares during the period. Nkcfo LLC bought a new position in shares of Upwork during the 4th quarter worth about $82,000. SBI Securities Co. Ltd. acquired a new position in shares of Upwork during the fourth quarter valued at about $84,000. CWM LLC lifted its stake in shares of Upwork by 71.9% in the third quarter. CWM LLC now owns 5,896 shares of the company’s stock valued at $62,000 after buying an additional 2,467 shares during the period. Finally, Financial Management Professionals Inc. acquired a new stake in Upwork during the fourth quarter worth about $97,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on UPWK. UBS Group upped their target price on Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. The Goldman Sachs Group boosted their price target on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price objective (up previously from $13.00) on shares of Upwork in a research report on Thursday, November 7th. Needham & Company LLC boosted their target price on shares of Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Roth Mkm cut their price target on shares of Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Upwork has a consensus rating of “Moderate Buy” and an average price target of $18.91.

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.