Erica Gessert Sells 4,316 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 4,316 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total value of $56,410.12. Following the completion of the sale, the chief financial officer now owns 160,945 shares in the company, valued at $2,103,551.15. The trade was a 2.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, February 18th, Erica Gessert sold 13,765 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total value of $222,304.75.

Upwork Stock Up 0.9 %

Shares of UPWK opened at $13.57 on Friday. 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 firm has a market cap of $1.84 billion, a P/E ratio of 8.87 and a beta of 1.61. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. The firm’s 50-day simple moving average is $15.39 and its 200 day simple moving average is $14.27.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating 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%. On average, analysts forecast that Upwork Inc. will post 0.84 earnings per share for the current year.

Institutional Trading of Upwork

A number of institutional investors have recently bought and sold shares of the business. KBC Group NV boosted its holdings in Upwork by 45.4% in the 3rd 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 during the period. Quarry LP lifted its holdings in shares of Upwork by 42.6% during the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after acquiring an additional 1,851 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in shares of Upwork by 18.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company’s stock worth $143,000 after acquiring an additional 2,129 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Upwork by 3.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 67,716 shares of the company’s stock worth $1,107,000 after acquiring an additional 2,148 shares during the period. Finally, Rhumbline Advisers lifted 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 acquiring an additional 2,387 shares during the period. Institutional investors own 77.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on UPWK shares. JMP Securities reissued a “market outperform” rating and issued a $18.00 target price on shares of Upwork in a research note on Thursday, January 30th. Scotiabank assumed coverage on shares of Upwork in a research note on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price objective on the stock. Royal Bank of Canada boosted their price objective on shares of Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. 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, Jefferies Financial Group boosted their price objective on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.