Upwork Inc (UPWK) Insider Sells $62,175.00 in Stock

Upwork Inc (NASDAQ:UPWK) insider Hayden Brown sold 3,750 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $16.58, for a total value of $62,175.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

UPWK opened at $16.04 on Thursday. The firm has a market capitalization of $1.72 billion and a PE ratio of -42.13. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.74 and a quick ratio of 1.74. Upwork Inc has a 12 month low of $15.61 and a 12 month high of $25.00.

Upwork (NASDAQ:UPWK) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company had revenue of $68.92 million during the quarter, compared to the consensus estimate of $69.15 million. Research analysts expect that Upwork Inc will post -0.16 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Upwork in the fourth quarter worth about $34,000. Marshall Wace North America L.P. acquired a new stake in shares of Upwork in the first quarter valued at approximately $38,000. Citigroup Inc. acquired a new stake in shares of Upwork in the fourth quarter valued at approximately $60,000. Strs Ohio acquired a new stake in shares of Upwork in the fourth quarter valued at approximately $61,000. Finally, Barclays PLC acquired a new stake in shares of Upwork in the fourth quarter valued at approximately $93,000. 35.48% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have weighed in on UPWK. Zacks Investment Research cut Upwork from a “hold” rating to a “sell” rating in a report on Friday, April 12th. BTIG Research began coverage on Upwork in a report on Thursday, April 11th. They issued a “buy” rating and a $24.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $22.50.

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About Upwork

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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