Upwork Inc. (NASDAQ:UPWK) Insider Dave Bottoms Sells 2,130 Shares

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 2,130 shares of the firm’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $16.66, for a total value of $35,485.80. Following the completion of the transaction, the insider now directly owns 1,620 shares in the company, valued at approximately $26,989.20. This represents a 56.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Dave Bottoms also recently made the following trade(s):

• On Thursday, May 15th, Dave Bottoms sold 1,009 shares of Upwork stock. The stock was sold at an average price of $17.14, for a total transaction of $17,294.26.
• On Tuesday, March 18th, Dave Bottoms sold 5,411 shares of Upwork stock. The shares were sold at an average price of $13.07, for a total transaction of $70,721.77.
• On Tuesday, February 18th, Dave Bottoms sold 1,543 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total transaction of $24,919.45.

Upwork Price Performance

UPWK traded down $0.69 on Monday, hitting $16.55. 2,542,203 shares of the company’s stock were exchanged, compared to its average volume of 2,259,151. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $13.78 and a 200-day moving average price of $15.25. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 10.82 and a beta of 1.52.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.09. The firm had revenue of $192.71 million for the quarter, compared to analysts’ expectations of $188.49 million. Upwork had a net margin of 28.02% and a return on equity of 50.83%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. As a group, equities analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

UPWK has been the topic of several recent analyst reports. BTIG Research downgraded shares of Upwork from a “buy” rating to a “neutral” rating in a research note on Friday, April 4th. Citigroup restated an “outperform” rating on shares of Upwork in a report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Upwork in a research note on Tuesday, May 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 target price on shares of Upwork in a research note on Tuesday, May 6th. Finally, Jefferies Financial Group lowered their target price on shares of Upwork from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of UPWK. Susquehanna Fundamental Investments LLC purchased a new stake in Upwork in the 4th quarter valued at about $806,000. Bayesian Capital Management LP purchased a new stake in Upwork in the 4th quarter valued at about $1,019,000. Dorsey Asset Management LLC raised its holdings in Upwork by 15.0% in the 4th quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company’s stock valued at $49,788,000 after buying an additional 397,997 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Upwork in the 4th quarter valued at about $419,000. Finally, Rhumbline Advisers raised its holdings in Upwork by 1.4% in the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock valued at $2,914,000 after buying an additional 2,387 shares during the period. Institutional investors and hedge funds own 77.71% of the company’s stock.

Upwork Company Profile

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.