Upwork Inc (NASDAQ:UPWK) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 2,084,000 shares, a decrease of 5.8% from the May 15th total of 2,213,400 shares. Based on an average trading volume of 1,190,000 shares, the short-interest ratio is presently 1.8 days. Currently, 4.5% of the shares of the stock are sold short.
In other news, SVP Han-Shen Yuan sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $15.87, for a total value of $1,587,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Stephane Kasriel sold 280,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $16.35, for a total transaction of $4,578,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 607,451 shares of company stock valued at $9,687,211. Insiders own 40.81% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of UPWK. Marshall Wace North America L.P. bought a new position in Upwork in the first quarter worth $38,000. Citigroup Inc. bought a new position in Upwork in the fourth quarter worth $60,000. Barclays PLC bought a new position in Upwork in the fourth quarter worth $93,000. Bank of America Corp DE bought a new position in Upwork in the fourth quarter worth $94,000. Finally, Metropolitan Life Insurance Co. NY bought a new position in Upwork in the fourth quarter worth $126,000. 35.43% of the stock is owned by institutional investors and hedge funds.
Shares of Upwork stock traded up $0.10 during trading on Friday, hitting $17.04. 772,019 shares of the stock were exchanged, compared to its average volume of 1,253,694. Upwork has a 12 month low of $14.08 and a 12 month high of $25.00. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.83 billion and a PE ratio of -44.84. The company has a fifty day moving average of $15.54.
Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The business had revenue of $68.92 million during the quarter, compared to analyst estimates of $69.15 million. Sell-side analysts expect that Upwork will post -0.2 EPS for the current fiscal year.
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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