Upwork Inc. (NASDAQ:UPWK) CAO Sells $19,082.20 in Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 1,460 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total value of $19,082.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,881 shares of the company’s stock, valued at approximately $50,724.67. The trade was a 27.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, February 18th, Olivier Marie sold 1,081 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total value of $17,458.15.
• On Friday, February 14th, Olivier Marie sold 335 shares of Upwork stock. The shares were sold at an average price of $16.48, for a total transaction of $5,520.80.
• On Tuesday, January 21st, Olivier Marie sold 257 shares of Upwork stock. The stock was sold at an average price of $16.00, for a total transaction of $4,112.00.

Upwork Stock Up 0.9 %

Shares of NASDAQ:UPWK opened at $13.57 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 8.87 and a beta of 1.61. The company has a 50 day moving average of $15.39 and a 200-day moving average of $14.30. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14.

Upwork (NASDAQ:UPWK) last released its earnings results on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. On average, sell-side analysts forecast that Upwork Inc. will post 0.84 earnings per share for the current year.

Hedge Funds Weigh In On Upwork

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV raised its position in shares of Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after acquiring an additional 1,497 shares during the period. Nkcfo LLC bought a new stake in Upwork in the fourth quarter valued at approximately $82,000. SBI Securities Co. Ltd. acquired a new stake in Upwork in the fourth quarter worth $84,000. Financial Management Professionals Inc. bought a new position in shares of Upwork during the fourth quarter worth $97,000. Finally, Quarry LP grew its holdings in shares of 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 period. Institutional investors own 77.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on UPWK shares. Royal Bank of Canada upped their price objective on shares of Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. UBS Group raised their price target on Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Citigroup boosted their price objective on Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Needham & Company LLC raised their target price on Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Scotiabank assumed coverage on shares of Upwork in a research report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Upwork has a consensus rating of “Moderate Buy” and a consensus price target of $18.58.

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.