The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Upwork Inc shares valued at $11,799 were sold by Marie Olivier on Mar 18 ’24. At $12.20 per share, Marie Olivier sold 967 shares. The insider’s holdings dropped to 7,196 shares worth approximately $88366.87999999999 following the completion of this transaction.
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Also, Brown Hayden sold 20,000 shares, netting a total of over 241,426 in proceeds. Following the sale of shares at $12.07 each, the insider now holds 1,145,980 shares.
Before that, Marie Olivier had sold 1,491 shares from its account. In a trade valued at $19,428, the Chief Accounting Officer traded Upwork Inc shares for $13.03 each. Upon closing the transaction, the insider’s holdings decreased to 1,491 shares, worth approximately $67883.84.
As published in a research note from Jefferies on January 08, 2024, Upwork Inc [UPWK] has been rated up from a Hold to a Buy and the price target has been revised to $20 from $13. Analysts at UBS started covering the stock with ‘”a Neutral”‘ outlook in a report released in early October. As of August 28, 2023, BTIG Research has decreased its “Buy” rating to a “Neutral” for UPWK. Earlier on June 30, 2023, BTIG Research resumed its rating. Their recommendation was “a Buy” for UPWK stock.
Analyzing UPWK Stock Performance
During the last five days, there has been a drop of approximately -1.60%. Over the course of the year, Upwork Inc shares have dropped approximately -17.42%. Shares of the company reached a 52-week high of $16.36 on 01/09/24 and a 52-week low of $11.63 on 03/19/24. A 50-day SMA is recorded $13.41, while a 200-day SMA reached $12.70. Nevertheless, trading volume fell to 2.1 million shares from 1.5 million shares the previous day.
Support And Resistance Levels for Upwork Inc (UPWK)
According to the 24-hour chart, there is a support level at 12.15, which, if violated, would cause prices to drop to 12.02. In the upper region, resistance lies at 12.40. The next price resistance is at 12.53. RSI (Relative Strength Index) is 41.85 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.11, which suggests the price will decrease in the coming days. Percent R is at 60.24%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Upwork Inc subject to short interest?
Stocks of Upwork Inc saw a sharp rise in short interest on Feb 29, 2024 jumping by 0.44 million shares to 8.36 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 7.92 million shares. A jump of 5.26% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.57 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.57.
