Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown Sells 26,438 Shares

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 26,438 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $16.58, for a total transaction of $438,342.04. Following the completion of the sale, the chief executive officer now owns 1,130,791 shares in the company, valued at $18,748,514.78. This represents a 2.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Thursday, May 15th, Hayden Brown sold 60,000 shares of Upwork stock. The stock was sold at an average price of $17.16, for a total value of $1,029,600.00.
• On Monday, May 12th, Hayden Brown sold 20,000 shares of Upwork stock. The stock was sold at an average price of $17.09, for a total value of $341,800.00.
• On Wednesday, May 7th, Hayden Brown sold 40,000 shares of Upwork stock. The stock was 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 shares were sold at an average price of $13.07, for a total value of $118,610.25.
• On Friday, March 7th, Hayden Brown sold 60,000 shares of Upwork stock. The stock was 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 shares were sold at an average price of $16.15, for a total value of $341,120.30.

Upwork Trading Down 4.0%

NASDAQ UPWK traded down $0.69 during mid-day trading on Monday, reaching $16.55. 2,542,203 shares of the stock were exchanged, compared to its average volume of 2,259,151. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14. The business’s fifty day simple moving average is $13.78 and its 200 day simple moving average is $15.25. The stock has a market capitalization of $2.18 billion, a PE ratio of 10.82 and a beta of 1.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. JMP Securities boosted their target price on shares of Upwork from $18.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 target price on shares of Upwork in a report on Tuesday, May 6th. Jefferies Financial Group reduced their target price on shares of Upwork from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 7th. Citigroup reaffirmed an “outperform” rating on shares of Upwork in a report on Friday. Finally, UBS Group upped their target price on shares of Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.67.

Hedge Funds Weigh In On Upwork

A number of hedge funds have recently made changes to their positions in UPWK. Price T Rowe Associates Inc. MD boosted its holdings in shares of Upwork by 51.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock valued at $253,405,000 after purchasing an additional 5,289,493 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Upwork by 364.5% in the 1st quarter. LSV Asset Management now owns 5,351,406 shares of the company’s stock valued at $69,836,000 after purchasing an additional 4,199,244 shares during the last quarter. Nuveen LLC acquired a new position in shares of Upwork in the 1st quarter valued at $22,079,000. Invesco Ltd. boosted its holdings in shares of Upwork by 1,674.0% in the 4th quarter. Invesco Ltd. now owns 1,748,320 shares of the company’s stock valued at $28,585,000 after purchasing an additional 1,649,766 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Upwork by 86.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company’s stock valued at $54,005,000 after purchasing an additional 1,534,078 shares during the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

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.