Olivier Marie Sells 1,518 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 1,518 shares of Upwork stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $10.57, for a total value of $16,045.26. Following the completion of the sale, the chief accounting officer now owns 12,608 shares in the company, valued at $133,266.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, August 19th, Olivier Marie sold 1,005 shares of Upwork stock. The stock was sold at an average price of $9.65, for a total value of $9,698.25.
• On Monday, August 12th, Olivier Marie sold 366 shares of Upwork stock. The shares were sold at an average price of $9.23, for a total transaction of $3,378.18.
• On Thursday, July 18th, Olivier Marie sold 225 shares of Upwork stock. The stock was sold at an average price of $11.40, for a total transaction of $2,565.00.

Upwork Stock Down 0.6 %

Shares of Upwork stock opened at $10.71 on Friday. The company has a 50-day simple moving average of $10.30 and a two-hundred day simple moving average of $11.08. The stock has a market capitalization of $1.43 billion, a PE ratio of 30.60 and a beta of 1.54. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $16.36. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.00 and a current ratio of 3.00.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $193.13 million during the quarter, compared to analyst estimates of $193.05 million. Upwork had a net margin of 10.00% and a return on equity of 20.75%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) EPS. On average, analysts anticipate that Upwork Inc. will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Upwork

Several large investors have recently bought and sold shares of UPWK. Victory Capital Management Inc. boosted its holdings in shares of Upwork by 24.2% during the 4th quarter. Victory Capital Management Inc. now owns 16,200 shares of the company’s stock valued at $241,000 after acquiring an additional 3,156 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Upwork by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 977,073 shares of the company’s stock worth $14,529,000 after purchasing an additional 20,703 shares during the period. Teacher Retirement System of Texas purchased a new stake in Upwork during the 4th quarter valued at $771,000. Quadrant Capital Group LLC lifted its holdings in shares of Upwork by 67.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock valued at $30,000 after buying an additional 803 shares during the period. Finally, Norges Bank purchased a new position in shares of Upwork in the 4th quarter worth $11,486,000. 77.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on UPWK. The Goldman Sachs Group decreased their price target on shares of Upwork from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Canaccord Genuity Group lowered their target price on Upwork from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. UBS Group reduced their price target on Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Piper Sandler lowered their price objective on Upwork from $20.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, Roth Mkm reduced their target price on shares of Upwork from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Upwork has a consensus rating of “Moderate Buy” and an average target price of $15.70.

Upwork Company Profile

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.