Upwork Inc (NASDAQ:UPWK) major shareholder Bruce Dunlevie sold 48,708 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $14.82, for a total value of $721,852.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
UPWK stock opened at $15.00 on Friday. Upwork Inc has a twelve month low of $14.08 and a twelve month high of $25.00. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.66 billion and a PE ratio of -39.47. The business has a 50 day moving average of $16.13 and a 200 day moving average of $18.16.
Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.03. Upwork had a negative return on equity of 8.95% and a negative net margin of 7.09%. The company had revenue of $74.26 million during the quarter, compared to analyst estimates of $73.14 million. During the same quarter last year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, research analysts expect that Upwork Inc will post -0.15 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of UPWK. Marshall Wace North America L.P. bought a new stake in shares of Upwork in the 1st quarter worth $38,000. Point72 Hong Kong Ltd bought a new stake in shares of Upwork in the 2nd quarter worth $44,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Upwork in the 2nd quarter worth $63,000. Bank of America Corp DE bought a new stake in shares of Upwork in the 4th quarter worth $94,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Upwork by 4,184.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,770 shares of the company’s stock worth $109,000 after purchasing an additional 6,612 shares in the last quarter. 35.56% of the stock is owned by institutional investors and hedge funds.
Upwork Inc operates an online marketplace that enables businesses (clients) to find and work with various independent professionals and agencies (freelancers). The company's platform provides access to talent with approximately 5,000 skills across approximately 70 categories, including content marketing, customer service, data science and analytics, graphic design, mobile development, sales, and Web development.
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