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Upwork Inc [UPWK] President & CEO makes an insider sale of 9,541 shares worth 97,476.

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 $97,476 were sold by Brown Hayden on Jun 20 ’24. At $10.22 per share, Brown Hayden sold 9,541 shares. The insider’s holdings dropped to 1,164,021 shares worth approximately $11.78 million following the completion of this transaction.

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Also, Brown Hayden sold 20,000 shares, netting a total of over 204,628 in proceeds. Following the sale of shares at $10.23 each, the insider now holds 1,155,829 shares.

Before that, Bottoms Dave had sold 1,163 shares from its account. In a trade valued at $12,551, the GM VP II, Marketplace traded Upwork Inc shares for $10.79 each. Upon closing the transaction, the insider’s holdings decreased to 1,163 shares, worth approximately $0.0.

As published in a research note from BTIG Research on May 02, 2024, Upwork Inc [UPWK] has been rated up from a Neutral to a Buy and the price target has been revised to $16. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early January. As of October 04, 2023, UBS has initiated its “Neutral” rating for UPWK. Earlier on August 28, 2023, BTIG Research downgraded its rating. Their new recommendation was “a Neutral” for UPWK stock which previously was a “a Buy”.

Analyzing UPWK Stock Performance

During the last five days, there has been a drop of approximately -5.68%. Over the course of the year, Upwork Inc shares have dropped approximately -31.94%. Shares of the company reached a 52-week high of $16.36 on 01/09/24 and a 52-week low of $10.10 on 06/20/24. A 50-day SMA is recorded $11.34, while a 200-day SMA reached $12.69. Nevertheless, trading volume fell to 1.34 million shares from 1.53 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 10.02, which, if violated, would cause prices to drop to 9.92. In the upper region, resistance lies at 10.30. The next price resistance is at 10.48. RSI (Relative Strength Index) is 30.77 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.29, which suggests the price will decrease in the coming days. Percent R is at 97.77%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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