Dave Bottoms Sells 1,009 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 1,009 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $17.14, for a total value of $17,294.26. Following the completion of the transaction, the insider now owns 1,620 shares of the company’s stock, valued at $27,766.80. The trade was a 38.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, May 19th, Dave Bottoms sold 2,130 shares of Upwork stock. The shares were sold at an average price of $16.66, for a total value of $35,485.80.
• On Tuesday, March 18th, Dave Bottoms sold 5,411 shares of Upwork stock. The shares were sold at an average price of $13.07, for a total value 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

Shares of Upwork stock opened at $16.46 on Wednesday. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $13.87 and a two-hundred day moving average price of $15.25. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14. The company has a market cap of $2.17 billion, a P/E ratio of 10.76 and a beta of 1.52.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The firm had revenue of $192.71 million during the quarter, compared to the consensus estimate of $188.49 million. During the same period last year, the business posted $0.22 EPS. The business’s revenue was up .9% compared to the same quarter last year. As a group, analysts anticipate 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 recent research reports. Needham & Company LLC restated a “buy” rating and issued a $19.00 price objective on shares of Upwork in a report on Tuesday, May 6th. Jefferies Financial Group decreased their price objective on Upwork from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 7th. JMP Securities increased their price objective on Upwork from $18.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, May 16th. Scotiabank initiated coverage on Upwork in a report on Wednesday, March 12th. They issued a “sector perform” rating and a $15.00 price objective for the company. Finally, UBS Group increased their price objective on Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.67.

Institutional Trading of Upwork

A number of large investors have recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Upwork by 10.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 338,680 shares of the company’s stock worth $4,420,000 after purchasing an additional 31,378 shares in the last quarter. Teza Capital Management LLC bought a new position in shares of Upwork during the 1st quarter worth about $265,000. Millennium Management LLC boosted its position in shares of Upwork by 364.0% during the 1st quarter. Millennium Management LLC now owns 789,638 shares of the company’s stock worth $10,305,000 after purchasing an additional 619,459 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Upwork by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,466 shares of the company’s stock worth $972,000 after purchasing an additional 3,599 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Upwork by 1,448.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 542,778 shares of the company’s stock worth $7,083,000 after purchasing an additional 507,715 shares in the last quarter. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Upwork Company Profile

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.