Upwork Inc. (NASDAQ:UPWK) CEO Sells $363,393.00 in Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 31,300 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $11.61, for a total value of $363,393.00. Following the sale, the chief executive officer now directly owns 1,175,829 shares in the company, valued at approximately $13,651,374.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Friday, March 15th, Hayden Brown sold 20,000 shares of Upwork stock. The shares were sold at an average price of $12.07, for a total value of $241,400.00.

Upwork Trading Up 0.3 %

Shares of Upwork stock opened at $11.60 on Wednesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.93 and a current ratio of 2.93. Upwork Inc. has a 52 week low of $7.54 and a 52 week high of $16.36. The stock has a 50 day moving average price of $11.96 and a two-hundred day moving average price of $13.33. The stock has a market capitalization of $1.54 billion, a PE ratio of 33.14 and a beta of 1.66.

Institutional Trading of Upwork

A number of hedge funds and other institutional investors have recently bought and sold shares of UPWK. Quadrant Capital Group LLC grew its holdings in shares of Upwork by 67.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock valued at $30,000 after buying an additional 803 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Upwork during the fourth quarter valued at approximately $33,000. Headlands Technologies LLC bought a new stake in Upwork during the first quarter worth $49,000. Essex Investment Management Co. LLC lifted its stake in Upwork by 56.2% during the 1st quarter. Essex Investment Management Co. LLC now owns 4,724 shares of the company’s stock valued at $58,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Shell Asset Management Co. boosted its holdings in Upwork by 193.6% during the 1st quarter. Shell Asset Management Co. now owns 8,570 shares of the company’s stock worth $105,000 after acquiring an additional 5,651 shares during the last quarter. Institutional investors own 77.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on UPWK. Roth Mkm reiterated a “buy” rating and issued a $19.00 price objective on shares of Upwork in a report on Wednesday, May 15th. BTIG Research raised Upwork from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Upwork in a research note on Wednesday, May 15th. The Goldman Sachs Group increased their target price on shares of Upwork from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Finally, Royal Bank of Canada lowered their target price on shares of Upwork from $18.00 to $15.00 and set a “sector perform” rating for the company in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.80.

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.