Upwork Inc. (NASDAQ:UPWK – Get Free Report) CFO Erica Gessert sold 9,336 shares of Upwork stock in a transaction on Friday, September 18th. The shares were sold at an average price of $8.45, for a total transaction of $78,889.20. Following the completion of the sale, the chief financial officer directly owned 373,586 shares of the company’s stock, valued at approximately $3,156,801.70. This trade represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Erica Gessert also recently made the following trade(s):
- On Tuesday, August 18th, Erica Gessert sold 22,844 shares of Upwork stock. The shares were sold at an average price of $8.43, for a total transaction of $192,574.92.
Upwork Price Performance
Shares of UPWK stock traded down $0.02 on Tuesday, reaching $8.35. 3,115,523 shares of the company were exchanged, compared to its average volume of 3,699,119. The company has a 50-day moving average of $8.92 and a 200-day moving average of $9.57. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 10.84 and a beta of 1.01. Upwork Inc. has a one year low of $7.44 and a one year high of $22.84.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on UPWK shares. Canaccord Genuity Group lowered their target price on Upwork from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Wednesday, August 12th. Needham & Company LLC decreased their price target on shares of Upwork from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Scotiabank decreased their price target on shares of Upwork from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 11th. Royal Bank Of Canada lowered their price objective on shares of Upwork from $9.00 to $8.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 11th. Finally, The Goldman Sachs Group set a $11.50 price objective on shares of Upwork in a research note on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.05.
View Our Latest Report on Upwork
Institutional Investors Weigh In On Upwork
Several institutional investors and hedge funds have recently added to or reduced their stakes in UPWK. Rockefeller Capital Management L.P. boosted its stake in shares of Upwork by 434.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,881 shares of the company’s stock worth $37,000 after buying an additional 1,529 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Upwork by 43.7% in the second quarter. GAMMA Investing LLC now owns 4,575 shares of the company’s stock valued at $38,000 after acquiring an additional 1,392 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Upwork during the fourth quarter valued at approximately $73,000. Summit Global Investments purchased a new stake in shares of Upwork during the second quarter valued at approximately $89,000. Finally, Clearstead Advisors LLC increased its position in shares of Upwork by 226.5% during the fourth quarter. Clearstead Advisors LLC now owns 4,590 shares of the company’s stock valued at $91,000 after acquiring an additional 3,184 shares during the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.
Upwork Company Profile
Upwork Inc operates a global online work marketplace that connects businesses with independent professionals and agencies. The platform supports a wide range of services, including software development, design and creative work, marketing, writing and translation, consulting, customer support, and administrative services.
Through its marketplace, Upwork enables businesses to find talent, post projects, manage engagements, collaborate remotely, and process payments. The company also offers solutions designed for larger organizations, including tools for sourcing, onboarding, managing, and paying independent professionals at scale.
Upwork was formed through the 2014 merger of Elance and oDesk and adopted the Upwork name in 2015.
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