Upwork Inc. (NASDAQ:UPWK) Insider Dave Bottoms Sells 2,130 Shares of Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 2,130 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $16.66, for a total value of $35,485.80. Following the sale, the insider now directly owns 1,620 shares in the company, valued at approximately $26,989.20. This trade represents a 56.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Dave Bottoms also recently made the following trade(s):

• On Thursday, May 15th, Dave Bottoms sold 1,009 shares of Upwork stock. The stock was sold at an average price of $17.14, for a total value of $17,294.26.
• On Tuesday, March 18th, Dave Bottoms sold 5,411 shares of Upwork stock. The stock was sold at an average price of $13.07, for a total transaction of $70,721.77.
• On Tuesday, February 18th, Dave Bottoms sold 1,543 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total value of $24,919.45.

Upwork Stock Performance

Upwork stock opened at $16.55 on Tuesday. The firm has a 50 day simple moving average of $13.78 and a 200-day simple moving average of $15.25. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 10.82 and a beta of 1.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Mesirow Financial Investment Management Inc. raised its stake in shares of Upwork by 5.7% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 27,228 shares of the company’s stock valued at $347,000 after acquiring an additional 1,465 shares during the period. KBC Group NV increased its holdings in Upwork by 39.6% in the 4th quarter. KBC Group NV now owns 6,690 shares of the company’s stock valued at $109,000 after purchasing an additional 1,899 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Upwork by 3.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 67,716 shares of the company’s stock valued at $1,107,000 after purchasing an additional 2,148 shares during the period. Rhumbline Advisers raised its position in Upwork by 1.4% in the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock valued at $2,914,000 after purchasing an additional 2,387 shares during the period. Finally, King Luther Capital Management Corp lifted its stake in Upwork by 1.0% during the fourth quarter. King Luther Capital Management Corp now owns 263,802 shares of the company’s stock worth $4,313,000 after purchasing an additional 2,636 shares in the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 target price on shares of Upwork in a research note on Tuesday, May 6th. Roth Mkm reduced their price objective on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. BTIG Research downgraded shares of Upwork from a “buy” rating to a “neutral” rating in a report on Friday, April 4th. 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. Finally, UBS Group raised their price target on shares of Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Four 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $18.67.

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.