Upwork Inc. (NASDAQ:UPWK) Director Leela Srinivasan Sells 3,896 Shares
Upwork Inc. (NASDAQ:UPWK – Get Rating) Director Leela Srinivasan sold 3,896 shares of Upwork stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $20.06, for a total value of $78,153.76. Following the sale, the director now owns 39,210 shares in the company, valued at $786,552.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
UPWK stock traded up $0.07 during mid-day trading on Monday, reaching $18.61. The company had a trading volume of 765,836 shares, compared to its average volume of 1,615,837. The company has a quick ratio of 3.61, a current ratio of 3.61 and a debt-to-equity ratio of 2.25. The stock has a market capitalization of $2.41 billion, a P/E ratio of -32.65 and a beta of 1.85. Upwork Inc. has a one year low of $14.85 and a one year high of $64.49. The stock’s 50-day simple moving average is $19.96 and its two-hundred day simple moving average is $25.47.
Upwork (NASDAQ:UPWK – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.10. The company had revenue of $141.34 million for the quarter, compared to analyst estimates of $133.70 million. Upwork had a negative return on equity of 27.03% and a negative net margin of 13.79%. During the same period last year, the company earned ($0.06) earnings per share. On average, research analysts forecast that Upwork Inc. will post -0.79 EPS for the current fiscal year.
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Several equities research analysts have issued reports on the company. Needham & Company LLC dropped their price objective on Upwork from $42.00 to $33.00 in a report on Thursday, April 28th. Royal Bank of Canada assumed coverage on Upwork in a report on Monday, May 23rd. They issued a “sector perform” rating and a $21.00 price target for the company. BTIG Research lowered their price target on Upwork from $44.00 to $34.00 and set a “buy” rating for the company in a report on Monday, April 18th. Canaccord Genuity Group lowered their price target on Upwork from $45.00 to $40.00 and set a “buy” rating for the company in a report on Friday, March 18th. Finally, MKM Partners lowered their price target on Upwork from $36.00 to $31.00 in a report on Monday, April 25th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $38.64.
Institutional investors and hedge funds have recently modified their holdings of the company. Qube Research & Technologies Ltd acquired a new position in shares of Upwork during the fourth quarter valued at $1,472,000. Sphera Funds Management LTD. acquired a new position in Upwork during the third quarter worth about $450,000. BNP Paribas Arbitrage SA grew its holdings in Upwork by 35.7% during the fourth quarter. BNP Paribas Arbitrage SA now owns 81,247 shares of the company’s stock worth $2,775,000 after acquiring an additional 21,394 shares during the period. Wealthsource Partners LLC grew its holdings in Upwork by 16.0% during the third quarter. Wealthsource Partners LLC now owns 13,012 shares of the company’s stock worth $586,000 after acquiring an additional 1,791 shares during the period. Finally, SkyView Investment Advisors LLC grew its holdings in Upwork by 93.4% during the third quarter. SkyView Investment Advisors LLC now owns 41,043 shares of the company’s stock worth $1,848,000 after acquiring an additional 19,820 shares during the period. 73.43% of the stock is currently owned by institutional investors.
Upwork Company Profile (Get Rating)
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 sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.
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