Insider Selling: Upwork Inc. (NASDAQ:UPWK) CFO Sells 13,765 Shares of Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 13,765 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total transaction of $222,304.75. Following the completion of the sale, the chief financial officer now directly owns 156,828 shares in the company, valued at $2,532,772.20. This trade represents a 8.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, December 18th, Erica Gessert sold 4,279 shares of Upwork stock. The shares were sold at an average price of $17.11, for a total transaction of $73,213.69.

Upwork Price Performance

Shares of UPWK stock opened at $15.63 on Friday. The stock’s fifty day moving average is $16.30 and its 200-day moving average is $13.64. 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 stock has a market capitalization of $2.12 billion, a PE ratio of 10.22 and a beta of 1.57.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. Equities research analysts expect that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on UPWK. Piper Sandler reissued an “overweight” rating and issued a $18.00 price target (up previously from $13.00) on shares of Upwork in a research report on Thursday, November 7th. Canaccord Genuity Group raised their target price on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Roth Mkm decreased their price target on Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. BTIG Research increased their price objective on Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, UBS Group boosted their target price on shares of Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.91.

Institutional Trading of Upwork

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV lifted its holdings in Upwork by 45.4% during the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after buying an additional 1,497 shares in the last quarter. Nkcfo LLC acquired a new position in shares of Upwork during the fourth quarter valued at $82,000. SBI Securities Co. Ltd. acquired a new position in shares of Upwork during the fourth quarter valued at $84,000. CWM LLC boosted its holdings in Upwork by 71.9% in the third quarter. CWM LLC now owns 5,896 shares of the company’s stock valued at $62,000 after acquiring an additional 2,467 shares during the last quarter. Finally, Financial Management Professionals Inc. acquired a new stake in Upwork in the fourth quarter worth about $97,000. Institutional investors and hedge funds 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.