Upwork Inc. (NASDAQ:UPWK) CAO Sells $17,458.15 in Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 1,081 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value of $17,458.15. Following the completion of the transaction, the chief accounting officer now owns 2,840 shares of the company’s stock, valued at $45,866. This represents a 27.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• 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.
• On Wednesday, December 18th, Olivier Marie sold 1,448 shares of Upwork stock. The shares were sold at an average price of $17.11, for a total transaction of $24,775.28.

Upwork Price Performance

Shares of UPWK opened at $15.63 on Friday. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14. The firm has a market cap of $2.12 billion, a PE ratio of 10.22 and a beta of 1.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The business’s 50 day moving average price is $16.30 and its two-hundred day moving average price is $13.64.

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

Institutional Investors Weigh In On Upwork

A number of institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new position in shares of Upwork during the third quarter valued at approximately $858,000. Victory Capital Management Inc. grew its stake in shares of Upwork by 133.5% in the 3rd quarter. Victory Capital Management Inc. now owns 116,899 shares of the company’s stock worth $1,222,000 after buying an additional 66,842 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Upwork by 40.9% in the third quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company’s stock worth $2,630,000 after acquiring an additional 73,104 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Upwork in the 3rd quarter worth about $8,369,000. Finally, Point72 Asset Management L.P. raised its holdings in Upwork by 2,216.8% in the third quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company’s stock worth $5,263,000 after buying an additional 481,942 shares during the last quarter. 77.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JMP Securities reissued a “market outperform” rating and issued a $18.00 price target on shares of Upwork in a research note on Thursday, January 30th. Piper Sandler reissued an “overweight” rating and issued a $18.00 target price (up previously from $13.00) on shares of Upwork in a research report on Thursday, November 7th. The Goldman Sachs Group upped their price target on Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group lifted their price objective on shares of Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Citigroup increased their target price on shares of Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.91.

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.