Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown Sells 20,000 Shares

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 20,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $17.09, for a total value of $341,800.00. Following the sale, the chief executive officer now directly owns 1,163,741 shares in the company, valued at $19,888,333.69. This trade represents a 1.69% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, May 7th, Hayden Brown sold 40,000 shares of Upwork stock. The shares were sold at an average price of $15.92, for a total value of $636,800.00.
• On Tuesday, March 18th, Hayden Brown sold 9,075 shares of Upwork stock. The stock was sold at an average price of $13.07, for a total transaction of $118,610.25.
• 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 transaction 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 transaction of $341,120.30.

Upwork Price Performance

UPWK opened at $17.39 on Thursday. The stock has a market capitalization of $2.29 billion, a P/E ratio of 11.37 and a beta of 1.52. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14. The stock has a 50-day moving average price of $13.58 and a 200-day moving average price of $15.15.

Upwork (NASDAQ:UPWK) last issued its earnings results on Monday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.09. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The business had revenue of $192.71 million during the quarter, compared to analyst estimates of $188.49 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. Upwork’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts predict that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Upwork

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wedmont Private Capital purchased a new stake in Upwork during the fourth quarter valued at about $544,000. Susquehanna Fundamental Investments LLC purchased a new stake in Upwork during the 4th quarter valued at about $806,000. Bayesian Capital Management LP bought a new position in Upwork during the 4th quarter worth approximately $1,019,000. KLP Kapitalforvaltning AS purchased a new position in Upwork in the 4th quarter worth approximately $419,000. Finally, Rhumbline Advisers increased its stake in Upwork by 1.4% in the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock worth $2,914,000 after purchasing an additional 2,387 shares during the period. Institutional investors own 77.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on UPWK shares. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 price target on shares of Upwork in a research report on Tuesday, May 6th. Roth Mkm reduced their target price on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Jefferies Financial Group decreased their target price on Upwork from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. UBS Group lifted their price target on Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Scotiabank began coverage on Upwork in a report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.50.

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.