Upwork Inc. (NASDAQ:UPWK) CFO Sells $125,197.17 in Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 9,267 shares of Upwork stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $13.51, for a total transaction of $125,197.17. Following the completion of the sale, the chief financial officer now owns 190,738 shares of the company’s stock, valued at $2,576,870.38. This represents a 4.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Erica Gessert also recently made the following trade(s):

• On Monday, May 19th, Erica Gessert sold 19,677 shares of Upwork stock. The stock was sold at an average price of $16.56, for a total transaction of $325,851.12.

Upwork Stock Down 0.5%

Upwork stock traded down $0.07 during trading on Monday, hitting $13.07. 3,287,541 shares of the company were exchanged, compared to its average volume of 2,279,736. The company has a market capitalization of $1.72 billion, a P/E ratio of 7.83 and a beta of 1.44. The business’s 50 day moving average is $14.76 and its 200 day moving average is $15.10. 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 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.60.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The firm had revenue of $192.71 million for the quarter, compared to the consensus estimate of $188.49 million. Upwork had a net margin of 30.46% and a return on equity of 48.38%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 EPS. Analysts predict that Upwork Inc. will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UPWK. IFP Advisors Inc increased its stake in Upwork by 3,492.8% in the 1st quarter. IFP Advisors Inc now owns 3,988 shares of the company’s stock valued at $52,000 after buying an additional 3,877 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 valued at $53,000 after acquiring an additional 3,767 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Upwork in the fourth quarter worth $84,000. Alpine Global Management LLC purchased a new position in Upwork in the first quarter worth $130,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Upwork in the 1st quarter valued at $140,000. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UPWK has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price target on shares of Upwork in a research note on Tuesday, May 6th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $18.00 price objective on shares of Upwork in a research note on Monday, June 2nd. JMP Securities upped their target price on Upwork from $18.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, May 16th. Wall Street Zen upgraded Upwork from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 24th. Finally, BTIG Research downgraded shares of Upwork from a “buy” rating to a “neutral” rating in a research report on Friday, April 4th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.67.

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.