Upwork Inc. (NASDAQ:UPWK) Director Leela Srinivasan Sells 6,520 Shares

Upwork Inc. (NASDAQ:UPWK) Director Leela Srinivasan sold 6,520 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $15.16, for a total transaction of $98,843.20. Following the transaction, the director now owns 82,783 shares of the company’s stock, valued at $1,254,990.28. This trade represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Leela Srinivasan also recently made the following trade(s):

• On Friday, June 6th, Leela Srinivasan sold 3,314 shares of Upwork stock. The stock was sold at an average price of $15.36, for a total value of $50,903.04.

Upwork Stock Performance

Shares of Upwork stock traded up $0.08 during trading hours on Monday, reaching $15.48. 1,413,975 shares of the stock traded hands, compared to its average volume of 2,250,694. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 10.12 and a beta of 1.44. The company has a 50 day moving average price of $14.45 and a 200 day moving average price of $15.29.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on UPWK shares. BTIG Research cut Upwork from a “buy” rating to a “neutral” rating in a research note on Friday, April 4th. Jefferies Financial Group decreased their target price on shares of Upwork from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Scotiabank initiated coverage on shares of Upwork in a report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price objective on the stock. JMP Securities boosted their target price on Upwork from $18.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, May 16th. Finally, Citigroup restated an “outperform” rating on shares of Upwork in a research report on Friday, May 16th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.67.

Hedge Funds Weigh In On Upwork

Several institutional investors have recently made changes to their positions in the company. KBC Group NV grew its holdings in Upwork by 39.6% during the 4th quarter. KBC Group NV now owns 6,690 shares of the company’s stock worth $109,000 after acquiring an additional 1,899 shares in the last quarter. Stoneridge Investment Partners LLC increased its holdings in Upwork by 19.9% during the fourth quarter. Stoneridge Investment Partners LLC now owns 16,566 shares of the company’s stock valued at $271,000 after buying an additional 2,744 shares during the period. Bristlecone Advisors LLC raised its stake in Upwork by 54.9% in the fourth quarter. Bristlecone Advisors LLC now owns 65,113 shares of the company’s stock worth $1,065,000 after buying an additional 23,090 shares in the last quarter. Rhumbline Advisers lifted its holdings in Upwork by 1.4% during the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock worth $2,914,000 after buying an additional 2,387 shares during the period. Finally, Nkcfo LLC purchased a new stake in Upwork during the fourth quarter worth $82,000. Hedge funds and other institutional investors 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.