Leela Srinivasan Sells 3,314 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) Director Leela Srinivasan sold 3,314 shares of Upwork stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $15.36, for a total value of $50,903.04. Following the completion of the transaction, the director now owns 79,469 shares of the company’s stock, valued at $1,220,643.84. This trade represents a 4.00% decrease in their ownership of the stock. The transaction 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 Thursday, June 5th, Leela Srinivasan sold 6,520 shares of Upwork stock. The stock was sold at an average price of $15.16, for a total value of $98,843.20.

Upwork Stock Down 5.1%

NASDAQ:UPWK opened at $14.57 on Thursday. The firm has a market capitalization of $1.92 billion, a PE ratio of 9.52 and a beta of 1.44. The stock has a 50 day moving average of $14.60 and a 200-day moving average of $15.29. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. 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 (NASDAQ:UPWK) last posted its earnings results on Monday, May 5th. The company reported $0.34 EPS for the quarter, beating 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 business’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 earnings per share. Analysts predict that Upwork Inc. will post 0.84 EPS for the current year.

Analysts Set New Price Targets

UPWK has been the subject of a number of research reports. Citigroup reiterated an “outperform” rating on shares of Upwork in a research note on Friday, May 16th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of Upwork in a research note on Tuesday, May 6th. JMP Securities lifted their price target on Upwork from $18.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, May 16th. Wall Street Zen upgraded Upwork from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 24th. Finally, UBS Group upped their target price on Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Upwork presently has an average rating of “Moderate Buy” and an average price target of $18.67.

Hedge Funds Weigh In On Upwork

Several hedge funds and other institutional investors have recently made changes to their positions in UPWK. IFP Advisors Inc boosted its position in shares of Upwork by 3,492.8% during the first quarter. IFP Advisors Inc now owns 3,988 shares of the company’s stock worth $52,000 after buying an additional 3,877 shares during the period. GAMMA Investing LLC boosted its position in shares of Upwork by 1,235.1% during the first quarter. GAMMA Investing LLC now owns 4,072 shares of the company’s stock worth $53,000 after buying an additional 3,767 shares during the period. Nkcfo LLC acquired a new position in shares of Upwork during the fourth quarter worth approximately $82,000. SBI Securities Co. Ltd. acquired a new position in shares of Upwork during the fourth quarter worth approximately $84,000. Finally, KBC Group NV boosted its position in shares of Upwork by 39.6% during the fourth quarter. KBC Group NV now owns 6,690 shares of the company’s stock worth $109,000 after buying an additional 1,899 shares during the period. 77.71% of the stock is currently owned by institutional investors and hedge funds.

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.