Olivier Marie Sells 1,448 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 1,448 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $17.11, for a total transaction of $24,775.28. Following the completion of the transaction, the chief accounting officer now directly owns 3,895 shares of the company’s stock, valued at approximately $66,643.45. The trade was a 27.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, November 18th, Olivier Marie sold 978 shares of Upwork stock. The shares were sold at an average price of $15.13, for a total transaction of $14,797.14.
• 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 value of $2,296.90.

Upwork Trading Up 1.2 %

NASDAQ UPWK opened at $16.44 on Friday. The firm’s fifty day moving average price is $14.89 and its 200 day moving average price is $11.99. Upwork Inc. has a 12 month low of $8.43 and a 12 month high of $18.14. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.18 and a quick ratio of 3.18. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 26.10 and a beta of 1.58.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping 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 quarter last year, the company posted $0.12 earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts expect that Upwork Inc. will post 0.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JMP Securities upped their price target on Upwork from $14.00 to $18.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Citigroup upped their target price on shares of Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 target price (up previously from $13.00) on shares of Upwork in a report on Thursday, November 7th. BTIG Research boosted their price target on shares of Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Roth Mkm raised their price objective on shares of Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.36.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in UPWK. Canada Pension Plan Investment Board boosted its holdings in shares of Upwork by 186.8% in the second quarter. Canada Pension Plan Investment Board now owns 306,900 shares of the company’s stock valued at $3,299,000 after acquiring an additional 199,900 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Upwork in the 3rd quarter valued at $858,000. Victory Capital Management Inc. boosted its stake in Upwork by 133.5% during the 3rd quarter. Victory Capital Management Inc. now owns 116,899 shares of the company’s stock worth $1,222,000 after purchasing an additional 66,842 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Upwork during the 2nd quarter worth $1,637,000. Finally, BNP Paribas Financial Markets increased its stake in Upwork by 40.9% in the third quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company’s stock valued at $2,630,000 after purchasing an additional 73,104 shares during the period. 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.