Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown Sells 20,000 Shares

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 20,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $17.09, for a total transaction of $341,800.00. Following the sale, the chief executive officer now owns 1,163,741 shares of the company’s stock, valued at approximately $19,888,333.69. This represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Wednesday, May 7th, Hayden Brown sold 40,000 shares of Upwork stock. The stock was sold at an average price of $15.92, for a total value of $636,800.00.
• 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 Trading Down 0.6%

Shares of NASDAQ UPWK opened at $17.39 on Thursday. The firm’s 50 day moving average price is $13.58 and its 200-day moving average price is $15.15. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The company has a market cap of $2.29 billion, a PE ratio of 11.37 and a beta of 1.52.

Upwork (NASDAQ:UPWK) last posted 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. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The business had revenue of $192.71 million during the quarter, compared to analyst estimates of $188.49 million. During the same quarter last year, the company earned $0.22 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts expect that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UPWK. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 target price on shares of Upwork in a research report on Tuesday, May 6th. JMP Securities restated a “market outperform” rating and set a $18.00 target price on shares of Upwork in a report on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of Upwork in a research note on Tuesday, May 6th. UBS Group boosted their price objective on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, BTIG Research downgraded shares of Upwork from a “buy” rating to a “neutral” rating in a research note on Friday, April 4th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Upwork has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

Hedge Funds Weigh In On Upwork

A number of hedge funds have recently bought and sold shares of the business. IFP Advisors Inc grew its holdings in shares of Upwork by 3,492.8% in the first quarter. IFP Advisors Inc now owns 3,988 shares of the company’s stock worth $52,000 after acquiring an additional 3,877 shares during the period. GAMMA Investing LLC increased its position in shares of Upwork by 1,235.1% during the 1st quarter. GAMMA Investing LLC now owns 4,072 shares of the company’s stock valued at $53,000 after purchasing an additional 3,767 shares during the last quarter. Nkcfo LLC purchased a new stake in shares of Upwork during the 4th quarter valued at about $82,000. SBI Securities Co. Ltd. bought a new position in shares of Upwork in the 4th quarter worth approximately $84,000. Finally, Financial Management Professionals Inc. purchased a new position in shares of Upwork in the fourth quarter worth approximately $97,000. Hedge funds and other institutional investors own 77.71% of the company’s stock.

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.