Upwork Inc (UPWK) Insider Hayden Brown Sells 3,750 Shares

Upwork Inc (NASDAQ:UPWK) insider Hayden Brown sold 3,750 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $16.58, for a total transaction of $62,175.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Upwork stock traded up $0.09 during mid-day trading on Tuesday, reaching $16.60. 1,021,600 shares of the company traded hands, compared to its average volume of 665,689. The company has a current ratio of 1.74, a quick ratio of 2.01 and a debt-to-equity ratio of 0.07. Upwork Inc has a fifty-two week low of $15.61 and a fifty-two week high of $25.00. The firm has a market capitalization of $1.77 billion and a price-to-earnings ratio of -43.68.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $68.92 million for the quarter, compared to analyst estimates of $69.15 million. On average, sell-side analysts predict that Upwork Inc will post -0.16 EPS for the current fiscal year.

Several research analysts recently commented on UPWK shares. Zacks Investment Research lowered shares of Upwork from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. BTIG Research initiated coverage on shares of Upwork in a research note on Thursday, April 11th. They set a “buy” rating and a $24.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Upwork currently has a consensus rating of “Hold” and an average target price of $22.50.

A number of institutional investors have recently modified their holdings of UPWK. Benjamin F. Edwards & Company Inc. acquired a new position in Upwork during the 4th quarter valued at approximately $34,000. Marshall Wace North America L.P. acquired a new position in Upwork during the 1st quarter valued at approximately $38,000. Citigroup Inc. purchased a new stake in shares of Upwork in the 4th quarter valued at $60,000. Strs Ohio purchased a new stake in shares of Upwork in the 4th quarter valued at $61,000. Finally, Barclays PLC purchased a new stake in shares of Upwork in the 4th quarter valued at $93,000. Institutional investors and hedge funds own 35.58% of the company’s stock.

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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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