Hayden Brown Sells 60,000 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 60,000 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $17.16, for a total value of $1,029,600.00. Following the transaction, the chief executive officer now directly owns 1,106,846 shares of the company’s stock, valued at $18,993,477.36. This represents a 5.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, May 19th, Hayden Brown sold 26,438 shares of Upwork stock. The stock was sold at an average price of $16.58, for a total value of $438,342.04.
• On Monday, May 12th, Hayden Brown sold 20,000 shares of Upwork stock. The stock was sold at an average price of $17.09, for a total value of $341,800.00.
• On Wednesday, May 7th, Hayden Brown sold 40,000 shares of Upwork stock. The stock was sold at an average price of $15.92, for a total value of $636,800.00.
• On Tuesday, March 18th, Hayden Brown sold 9,075 shares of Upwork stock. The stock was sold at an average price of $13.07, for a total value of $118,610.25.
• On Friday, March 7th, Hayden Brown sold 60,000 shares of Upwork stock. The shares were sold at an average price of $14.20, for a total value of $852,000.00.
• On Tuesday, February 18th, Hayden Brown sold 21,122 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total value of $341,120.30.

Upwork Stock Down 0.5%

NASDAQ UPWK opened at $16.46 on Wednesday. The stock has a fifty day moving average of $13.87 and a 200-day moving average of $15.25. The stock has a market capitalization of $2.17 billion, a P/E ratio of 10.76 and a beta of 1.52. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39.

Upwork (NASDAQ:UPWK) last released its earnings results on Monday, May 5th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.25 by $0.09. The company had revenue of $192.71 million during the quarter, compared to analysts’ expectations of $188.49 million. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the firm earned $0.22 EPS. On average, equities research analysts forecast that Upwork Inc. will post 0.84 EPS for the current year.

Institutional Investors Weigh In On Upwork

Several hedge funds and other institutional investors have recently made changes to their positions in UPWK. Financial Management Professionals Inc. acquired a new stake in shares of Upwork in the 4th quarter valued at $97,000. KBC Group NV grew its stake in shares of Upwork by 39.6% during the fourth quarter. KBC Group NV now owns 6,690 shares of the company’s stock worth $109,000 after purchasing an additional 1,899 shares during the period. Stoneridge Investment Partners LLC grew its stake in shares of Upwork by 19.9% during the fourth quarter. Stoneridge Investment Partners LLC now owns 16,566 shares of the company’s stock worth $271,000 after purchasing an additional 2,744 shares during the period. Bristlecone Advisors LLC grew its stake in shares of Upwork by 54.9% during the fourth quarter. Bristlecone Advisors LLC now owns 65,113 shares of the company’s stock worth $1,065,000 after purchasing an additional 23,090 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Upwork by 1.4% during the fourth quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock worth $2,914,000 after purchasing an additional 2,387 shares during the period. 77.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BTIG Research lowered Upwork from a “buy” rating to a “neutral” rating in a research note on Friday, April 4th. Scotiabank assumed coverage on Upwork in a research note on Wednesday, March 12th. They issued a “sector perform” rating and a $15.00 price objective on the stock. Citigroup reiterated an “outperform” rating on shares of Upwork in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of Upwork in a research note on Tuesday, May 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price objective on shares of Upwork in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.67.

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.