Hayden Brown Sells 9,075 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 9,075 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $118,610.25. Following the sale, the chief executive officer now owns 1,223,741 shares of the company’s stock, valued at approximately $15,994,294.87. The trade was a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, March 7th, Hayden Brown sold 60,000 shares of Upwork stock. The shares were 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 shares were sold at an average price of $16.15, for a total transaction of $341,120.30.

Upwork Trading Up 0.2 %

UPWK stock traded up $0.03 during trading on Thursday, reaching $13.45. The company had a trading volume of 1,381,989 shares, compared to its average volume of 2,210,246. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. The company has a market cap of $1.82 billion, a P/E ratio of 8.79 and a beta of 1.61. The business has a 50 day moving average of $15.48 and a 200 day moving average of $14.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39.

Upwork (NASDAQ:UPWK) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (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%. As a group, sell-side analysts forecast that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Upwork

A number of institutional investors and hedge funds have recently made changes to their positions in the business. KBC Group NV increased its stake in shares of Upwork by 45.4% during the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after purchasing an additional 1,497 shares in the last quarter. Quarry LP increased its stake in shares of Upwork by 42.6% during the third quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after purchasing an additional 1,851 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of Upwork by 18.4% during the third quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company’s stock valued at $143,000 after purchasing an additional 2,129 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Upwork by 3.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 67,716 shares of the company’s stock valued at $1,107,000 after purchasing an additional 2,148 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Upwork by 1.4% during the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock valued at $2,914,000 after purchasing an additional 2,387 shares in the last quarter. Institutional investors own 77.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup increased their target price on shares of Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Scotiabank assumed coverage on shares of Upwork in a report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 target price for the company. Royal Bank of Canada increased their target price on shares of Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and set a $18.00 target price on shares of Upwork in a report on Thursday, January 30th. Finally, Roth Mkm dropped their target price on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.58.

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.