Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie Sells 998 Shares

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 998 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $11.61, for a total transaction of $11,586.78. Following the completion of the transaction, the chief accounting officer now owns 9,194 shares of the company’s stock, valued at $106,742.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Olivier Marie also recently made the following trade(s):

• On Thursday, May 16th, Olivier Marie sold 3,106 shares of Upwork stock. The shares were sold at an average price of $12.13, for a total transaction of $37,675.78.
• On Thursday, April 18th, Olivier Marie sold 223 shares of Upwork stock. The shares were sold at an average price of $11.20, for a total transaction of $2,497.60.
• On Monday, March 18th, Olivier Marie sold 967 shares of Upwork stock. The shares were sold at an average price of $12.20, for a total transaction of $11,797.40.
• On Thursday, February 22nd, Olivier Marie sold 1,491 shares of Upwork stock. The shares were sold at an average price of $13.03, for a total transaction of $19,427.73.

Upwork Trading Down 2.7 %

Upwork stock opened at $11.10 on Friday. The company has a 50 day moving average price of $11.91 and a 200 day moving average price of $13.30. Upwork Inc. has a 52 week low of $7.54 and a 52 week high of $16.36. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.93 and a current ratio of 2.93. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 31.72 and a beta of 1.66.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Upwork had a net margin of 6.70% and a return on equity of 13.96%. The firm had revenue of $190.94 million during the quarter, compared to analyst estimates of $186.71 million. Research analysts forecast that Upwork Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Upwork in a report on Wednesday, May 15th. Roth Mkm restated a “buy” rating and set a $19.00 target price on shares of Upwork in a report on Wednesday, May 15th. Royal Bank of Canada reduced their target price on shares of Upwork from $18.00 to $15.00 and set a “sector perform” rating for the company in a report on Thursday, May 2nd. JMP Securities raised their target price on shares of Upwork from $16.00 to $17.00 and gave the stock a “market outperform” rating in a report on Thursday, February 15th. Finally, The Goldman Sachs Group raised their target price on shares of Upwork from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.80.

Institutional Investors Weigh In On Upwork

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC lifted its position in Upwork by 67.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock worth $30,000 after buying an additional 803 shares in the last quarter. Essex Investment Management Co. LLC raised its holdings in shares of Upwork by 56.2% during the 1st quarter. Essex Investment Management Co. LLC now owns 4,724 shares of the company’s stock valued at $58,000 after purchasing an additional 1,700 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Upwork by 8.6% during the 1st quarter. ProShare Advisors LLC now owns 22,483 shares of the company’s stock valued at $276,000 after purchasing an additional 1,771 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Upwork during the 4th quarter valued at $33,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Upwork by 17.1% during the 1st quarter. Principal Financial Group Inc. now owns 16,823 shares of the company’s stock valued at $206,000 after purchasing an additional 2,457 shares in the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.

About Upwork

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.