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

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

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

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

Upwork Stock Up 0.5%

NASDAQ UPWK opened at $15.48 on Tuesday. The business’s fifty day simple moving average is $14.49 and its 200-day simple moving average is $15.29. 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 cap of $2.04 billion, a PE ratio of 10.12 and a beta of 1.44. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14.

Upwork (NASDAQ:UPWK) last issued its earnings results on Monday, May 5th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The company 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%. Upwork’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. As a group, equities analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current year.

Wall Street Analyst Weigh In

UPWK has been the subject of several research reports. JMP Securities boosted their price target on Upwork from $18.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, May 16th. BTIG Research cut shares of Upwork from a “buy” rating to a “neutral” rating in a research note on Friday, April 4th. Jefferies Financial Group dropped their target price on shares of Upwork from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 target price on shares of Upwork in a research report on Monday, June 2nd. Finally, UBS Group boosted their price target on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Upwork presently has a consensus rating of “Moderate Buy” and an average target price of $18.67.

Institutional Trading of Upwork

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