Olivier Marie Sells 978 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 978 shares of Upwork stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $15.13, for a total value of $14,797.14. Following the transaction, the chief accounting officer now owns 2,943 shares of the company’s stock, valued at $44,527.59. This represents a 24.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, November 8th, Olivier Marie sold 9,153 shares of Upwork stock. The stock was sold at an average price of $15.92, for a total value of $145,715.76.
• On Friday, October 18th, Olivier Marie sold 223 shares of Upwork stock. The shares were sold at an average price of $10.30, for a total transaction of $2,296.90.
• On Wednesday, September 18th, Olivier Marie sold 1,518 shares of Upwork stock. The stock was sold at an average price of $10.57, for a total transaction of $16,045.26.

Upwork Stock Up 2.3 %

UPWK opened at $15.73 on Friday. The firm has a 50 day moving average price of $12.06 and a 200 day moving average price of $11.18. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $17.79. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.18 and a current ratio of 3.18. The company has a market cap of $2.10 billion, a PE ratio of 24.41 and a beta of 1.49.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The company had revenue of $193.78 million for the quarter, compared to analyst estimates of $185.55 million. During the same period last year, the company posted $0.12 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. Sell-side analysts expect that Upwork Inc. will post 0.65 earnings per share for the current year.

Hedge Funds Weigh In On Upwork

A number of institutional investors and hedge funds have recently bought and sold shares of UPWK. KBC Group NV raised its stake in shares of Upwork by 45.4% during the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after purchasing an additional 1,497 shares during the period. ProShare Advisors LLC lifted its holdings in Upwork by 8.6% in the 1st quarter. ProShare Advisors LLC now owns 22,483 shares of the company’s stock worth $276,000 after buying an additional 1,771 shares in the last quarter. Quarry LP boosted its position in Upwork by 42.6% in the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after buying an additional 1,851 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Upwork by 0.6% during the second quarter. Federated Hermes Inc. now owns 318,659 shares of the company’s stock valued at $3,426,000 after acquiring an additional 1,996 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Upwork by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 66,809 shares of the company’s stock worth $718,000 after acquiring an additional 2,063 shares during the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on UPWK. Royal Bank of Canada decreased their target price on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Citigroup decreased their price objective on Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. UBS Group dropped their target price on Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. BTIG Research lifted their price target on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group increased their price objective on shares of Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.00.

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.