Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown Sells 40,000 Shares

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 40,000 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $15.92, for a total value of $636,800.00. Following the sale, the chief executive officer now owns 1,183,741 shares in the company, valued at approximately $18,845,156.72. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 transaction 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 transaction of $852,000.00.
• On Tuesday, February 18th, Hayden Brown sold 21,122 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total transaction of $341,120.30.

Upwork Price Performance

Shares of Upwork stock opened at $16.88 on Friday. 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 Inc. has a 52-week low of $8.43 and a 52-week high of $18.14. The company has a fifty day moving average of $13.40 and a 200-day moving average of $15.05. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 11.03 and a beta of 1.52.

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

Hedge Funds Weigh In On Upwork

Institutional investors and hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc lifted its position in Upwork by 3,492.8% in the first quarter. IFP Advisors Inc now owns 3,988 shares of the company’s stock valued at $52,000 after purchasing an additional 3,877 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Upwork by 1,235.1% in 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 bought a new stake in Upwork during the 4th quarter valued at $82,000. SBI Securities Co. Ltd. purchased a new stake in Upwork during the 4th quarter valued at $84,000. Finally, Financial Management Professionals Inc. bought a new stake in Upwork in the 4th quarter worth $97,000. 77.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on UPWK shares. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of Upwork in a research report on Tuesday. Roth Mkm cut their price objective on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Jefferies Financial Group lowered their target price on shares of Upwork from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Citigroup cut their price target on shares of Upwork from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, BTIG Research lowered shares of Upwork from a “buy” rating to a “neutral” rating in a report on Friday, April 4th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.50.

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.