Olivier Marie Sells 1,460 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 1,460 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $19,082.20. Following the sale, the chief accounting officer now directly owns 3,881 shares of the company’s stock, valued at $50,724.67. The trade was a 27.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, February 18th, Olivier Marie sold 1,081 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total transaction 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 shares were sold at an average price of $16.00, for a total transaction of $4,112.00.

Upwork Price Performance

UPWK traded up $0.03 during trading on Thursday, reaching $13.45. 1,381,989 shares of the company traded hands, compared to its average volume of 2,210,246. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $18.14. The firm has a fifty day simple moving average of $15.43 and a 200 day simple moving average of $14.24. The company has a market cap of $1.82 billion, a P/E ratio of 8.79 and a beta of 1.61.

Upwork (NASDAQ:UPWK) last posted its earnings results on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates 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 forecast that Upwork Inc. will post 0.84 EPS for the current year.

Analyst Upgrades and Downgrades

UPWK has been the subject of several research reports. Roth Mkm reduced their price target on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. UBS Group increased their target price on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Jefferies Financial Group increased their target price on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Royal Bank of Canada increased their target price on shares of Upwork from $16.00 to $18.00 and gave the stock a “sector perform” 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. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.58.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Upwork by 133.5% during the 3rd quarter. Victory Capital Management Inc. now owns 116,899 shares of the company’s stock valued at $1,222,000 after acquiring an additional 66,842 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Upwork by 40.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company’s stock valued at $2,630,000 after acquiring an additional 73,104 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Upwork during the 3rd quarter valued at approximately $8,369,000. Point72 Asset Management L.P. boosted its position in shares of Upwork by 2,216.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company’s stock valued at $5,263,000 after acquiring an additional 481,942 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Upwork by 72.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 205,200 shares of the company’s stock valued at $2,144,000 after acquiring an additional 86,200 shares during the last quarter. 77.71% of the stock is currently owned by 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.