Key Points
- Upwork CEO Hayden Brown sold 75,000 shares on Nov. 25 at an average of $19.78 for $1.4835M, and has executed several large insider sales this month (including 275,000 shares on Nov. 26), reducing his stake by 7.16% to 972,894 shares.
- Upwork reported Q3 EPS of $0.21 (missing estimates) but revenue of $201.73M (beating estimates), set FY2025 guidance of 1.350–1.370 EPS, and its board authorized a $100 million stock buyback.
- Analyst sentiment is broadly positive (10 Buys, 4 Holds) with a consensus price target of $22.92, and institutional investors own about 77.71% of the stock after notable position increases by firms like LSV and T. Rowe Price.
Upwork Inc. (NASDAQ:UPWK - Get Free Report) CEO Hayden Brown sold 75,000 shares of Upwork stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $19.78, for a total transaction of $1,483,500.00. Following the transaction, the chief executive officer directly owned 972,894 shares in the company, valued at approximately $19,243,843.32. The trade was a 7.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Hayden Brown also recently made the following trade(s):
- On Wednesday, November 26th, Hayden Brown sold 275,000 shares of Upwork stock. The stock was sold at an average price of $19.43, for a total transaction of $5,343,250.00.
- On Friday, November 21st, Hayden Brown sold 60,000 shares of Upwork stock. The stock was sold at an average price of $18.20, for a total transaction of $1,092,000.00.
- On Tuesday, November 18th, Hayden Brown sold 24,846 shares of Upwork stock. The stock was sold at an average price of $16.70, for a total transaction of $414,928.20.
- On Friday, September 19th, Hayden Brown sold 20,000 shares of Upwork stock. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00.
- On Thursday, September 18th, Hayden Brown sold 42,344 shares of Upwork stock. The shares were sold at an average price of $19.09, for a total transaction of $808,346.96.
- On Wednesday, September 17th, Hayden Brown sold 20,000 shares of Upwork stock. The shares were sold at an average price of $18.00, for a total value of $360,000.00.
Upwork Price Performance
Shares of UPWK stock opened at $19.76 on Friday. The company has a 50-day moving average of $17.51 and a two-hundred day moving average of $15.62. Upwork Inc. has a 1-year low of $11.13 and a 1-year high of $20.54. The firm has a market cap of $2.58 billion, a PE ratio of 11.29 and a beta of 1.57.
Upwork (NASDAQ:UPWK - Get Free Report) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). The company had revenue of $201.73 million for the quarter, compared to analyst estimates of $193.33 million. Upwork had a return on equity of 41.05% and a net margin of 31.63%.The business's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. Upwork has set its FY 2025 guidance at 1.350-1.370 EPS. Q4 2025 guidance at 0.310-0.330 EPS. Sell-side analysts anticipate that Upwork Inc. will post 0.84 EPS for the current fiscal year.
Upwork announced that its board has approved a stock repurchase plan on Wednesday, September 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of analysts recently commented on UPWK shares. Wall Street Zen upgraded Upwork from a "hold" rating to a "buy" rating in a research report on Sunday, September 28th. Scotiabank upped their target price on Upwork from $15.00 to $17.00 and gave the stock a "sector perform" rating in a research report on Tuesday, November 4th. Citizens Jmp reissued a "market outperform" rating and set a $27.00 price target on shares of Upwork in a research report on Wednesday, November 19th. Roth Capital reiterated a "buy" rating and issued a $22.00 price target (up from $19.00) on shares of Upwork in a research note on Wednesday, November 5th. Finally, JMP Securities upped their price objective on Upwork from $20.00 to $27.00 and gave the company a "market outperform" rating in a research note on Wednesday, September 24th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.92.
Check Out Our Latest Report on Upwork
Institutional Trading of Upwork
Hedge funds and other institutional investors have recently made changes to their positions in the stock. LSV Asset Management raised its position in shares of Upwork by 22.1% during the second quarter. LSV Asset Management now owns 6,534,575 shares of the company's stock worth $87,825,000 after purchasing an additional 1,183,169 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Upwork by 41.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,660,511 shares of the company's stock valued at $60,820,000 after buying an additional 1,357,476 shares during the last quarter. Ancient Art L.P. increased its position in Upwork by 13.1% in the 3rd quarter. Ancient Art L.P. now owns 4,268,667 shares of the company's stock worth $79,269,000 after buying an additional 494,759 shares during the period. Invesco Ltd. grew its position in Upwork by 5.2% in the 3rd quarter. Invesco Ltd. now owns 3,009,334 shares of the company's stock worth $55,883,000 after purchasing an additional 147,852 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Upwork by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,828,735 shares of the company's stock worth $52,534,000 after buying an additional 71,130 shares in the last quarter. 77.71% of the stock is currently owned by institutional investors.
Upwork Company Profile
(
Get Free Report)
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.
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