Insider Selling: Upwork Inc (NASDAQ:UPWK) Insider Sells $232,950.00 in Stock

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Upwork Inc (NASDAQ:UPWK) insider Hayden Brown sold 15,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $15.53, for a total transaction of $232,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Tuesday, June 18th, Hayden Brown sold 1,435 shares of Upwork stock. The stock was sold at an average price of $15.57, for a total transaction of $22,342.95.
  • On Thursday, May 16th, Hayden Brown sold 2,266 shares of Upwork stock. The stock was sold at an average price of $15.84, for a total transaction of $35,893.44.

UPWK opened at $15.00 on Friday. The firm has a market cap of $1.66 billion and a P/E ratio of -39.47. The firm has a 50-day moving average of $16.13 and a 200 day moving average of $18.16. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.74. Upwork Inc has a fifty-two week low of $14.08 and a fifty-two week high of $25.00.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. The company had revenue of $74.26 million during the quarter, compared to analyst estimates of $73.14 million. Upwork had a negative net margin of 7.09% and a negative return on equity of 8.95%. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. Equities research analysts predict that Upwork Inc will post -0.15 earnings per share for the current fiscal year.

Several analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Upwork from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Wednesday, June 26th. Zacks Investment Research upgraded shares of Upwork from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Cantor Fitzgerald assumed coverage on shares of Upwork in a research note on Tuesday, June 18th. They issued an “overweight” rating for the company. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $25.00 target price on shares of Upwork in a research note on Sunday, August 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Upwork presently has a consensus rating of “Buy” and a consensus price target of $23.00.

A number of institutional investors and hedge funds have recently bought and sold shares of UPWK. Vanguard Group Inc. grew its position in Upwork by 163.4% during the second quarter. Vanguard Group Inc. now owns 5,544,244 shares of the company’s stock valued at $89,151,000 after buying an additional 3,439,563 shares during the period. BlackRock Inc. grew its position in Upwork by 139.6% during the second quarter. BlackRock Inc. now owns 3,951,764 shares of the company’s stock valued at $63,544,000 after buying an additional 2,302,364 shares during the period. Dragoneer Investment Group LLC grew its position in Upwork by 88.8% during the second quarter. Dragoneer Investment Group LLC now owns 3,021,031 shares of the company’s stock valued at $48,578,000 after buying an additional 1,421,031 shares during the period. Baillie Gifford & Co. bought a new position in Upwork during the second quarter valued at about $20,650,000. Finally, Morgan Stanley grew its position in Upwork by 141.9% during the second quarter. Morgan Stanley now owns 1,935,450 shares of the company’s stock valued at $31,122,000 after buying an additional 1,135,471 shares during the period. Institutional investors own 35.56% of the company’s stock.

Upwork Company Profile

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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