Upwork Inc. (NASDAQ:UPWK) CAO Sells $16,045.26 in Stock

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

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

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

Upwork Stock Down 0.6 %

Shares of UPWK stock traded down $0.06 on Friday, hitting $10.71. The stock had a trading volume of 1,795,164 shares, compared to its average volume of 2,130,590. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $16.36. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 31.14 and a beta of 1.54. The business has a 50 day moving average of $10.31 and a 200 day moving average of $11.11. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.00 and a quick ratio of 3.00.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. Upwork had a net margin of 10.00% and a return on equity of 20.75%. The firm had revenue of $193.13 million during the quarter, compared to analyst estimates of $193.05 million. During the same quarter last year, the business posted ($0.03) EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts expect that Upwork Inc. will post 0.51 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on UPWK. Roth Mkm reduced their target price on Upwork from $19.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Royal Bank of Canada decreased their price objective on Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group cut their target price on Upwork from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. UBS Group decreased their price target on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group lowered their price objective on shares of Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.70.

Institutional Investors Weigh In On Upwork

Several large investors have recently made changes to their positions in UPWK. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Upwork in the 2nd quarter worth about $1,279,000. Quarry LP raised its position in Upwork by 104.2% in the second quarter. Quarry LP now owns 4,350 shares of the company’s stock worth $47,000 after acquiring an additional 2,220 shares during the period. Algert Global LLC boosted its stake in Upwork by 322.9% in the second quarter. Algert Global LLC now owns 199,952 shares of the company’s stock valued at $2,149,000 after acquiring an additional 152,668 shares during the last quarter. SkyView Investment Advisors LLC grew its position in shares of Upwork by 6.6% during the 2nd quarter. SkyView Investment Advisors LLC now owns 198,736 shares of the company’s stock valued at $2,136,000 after acquiring an additional 12,343 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Upwork during the 2nd quarter worth approximately $1,637,000. 77.71% of the stock is owned by hedge funds and other institutional investors.

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.