Hayden Brown Sells 9,075 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 9,075 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total value of $118,610.25. Following the completion of the sale, the chief executive officer now directly owns 1,223,741 shares in the company, valued at approximately $15,994,294.87. This represents a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, March 7th, Hayden Brown sold 60,000 shares of Upwork stock. The shares were sold at an average price of $14.20, for a total value of $852,000.00.
• On Tuesday, February 18th, Hayden Brown sold 21,122 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total value of $341,120.30.

Upwork Stock Up 0.9 %

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

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. Equities research analysts anticipate that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Upwork

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in shares of Upwork by 51.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock worth $253,405,000 after acquiring an additional 5,289,493 shares during the last quarter. Invesco Ltd. raised its position in Upwork by 1,674.0% in the 4th quarter. Invesco Ltd. now owns 1,748,320 shares of the company’s stock worth $28,585,000 after purchasing an additional 1,649,766 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Upwork by 86.7% during the 4th 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. Contour Asset Management LLC acquired a new stake in shares of Upwork in the 4th quarter valued at $24,633,000. Finally, LSV Asset Management bought a new stake in shares of Upwork during the fourth quarter worth $18,838,000. 77.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on UPWK. Royal Bank of Canada upped their target price on shares of Upwork from $16.00 to $18.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Citigroup increased their target price on shares of Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Needham & Company LLC boosted their price target on Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. UBS Group raised their price objective on Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group boosted their price objective on Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.