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Elizabeth Nelson, a director at Upwork Inc. (NASDAQ:UPWK), a $2.13 billion market cap company trading at 9.78x earnings with impressive gross margins of 77%, recently sold a significant portion of her holdings in the company. On February 19, 2025, Nelson sold a total of 75,000 shares, generating approximately $1.3 million. The shares were sold at a weighted average price range between $17.57 and $18.01.
In addition to the sales, Nelson exercised stock options to acquire 75,000 shares at a price of $3.67 per share, amounting to a total of $275,250. Following these transactions, she holds 16,299 shares directly and 416,712 shares indirectly through a trust.
These transactions were carried out as part of a pre-arranged trading plan under Rule 10b5-1, which was adopted on May 25, 2024.
In other recent news, Upwork Inc. reported its fourth-quarter 2024 earnings, surpassing Wall Street expectations with an earnings per share (EPS) of $0.30, compared to the forecasted $0.26. The company also exceeded revenue projections, reporting $191.5 million against an anticipated $181.2 million. Following these results, several analyst firms adjusted their price targets for Upwork. UBS increased its price target to $19, maintaining a Neutral rating, while Needham raised its target to $19 as well, keeping a Buy rating. Jefferies adjusted its price target to $21, also maintaining a Buy rating, citing Upwork’s strong performance despite macroeconomic challenges. Goldman Sachs was more optimistic, raising the price target to $25, emphasizing Upwork’s potential growth driven by advancements in artificial intelligence and enterprise solutions. These developments reflect a positive outlook on Upwork’s strategic initiatives and financial trajectory amid a challenging economic environment.
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