Upwork Inc. (NASDAQ:UPWK) CAO Sells $145,715.76 in Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 9,153 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $15.92, for a total transaction of $145,715.76. Following the completion of the transaction, the chief accounting officer now directly owns 1,294 shares of the company’s stock, valued at approximately $20,600.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, October 18th, Olivier Marie sold 223 shares of Upwork stock. The stock was sold at an average price of $10.30, for a total transaction of $2,296.90.
• On Wednesday, September 18th, Olivier Marie sold 1,518 shares of Upwork stock. The shares were sold at an average price of $10.57, for a total value of $16,045.26.
• On Monday, August 19th, Olivier Marie sold 1,005 shares of Upwork stock. The stock was sold at an average price of $9.65, for a total value of $9,698.25.

Upwork Stock Performance

Upwork stock opened at $15.72 on Thursday. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $17.79. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 24.95 and a beta of 1.49. The stock’s 50 day simple moving average is $11.50 and its two-hundred day simple moving average is $11.08. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.18 and a current ratio of 3.18.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $193.78 million during the quarter, compared to the consensus estimate of $185.55 million. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 earnings per share. As a group, analysts expect that Upwork Inc. will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UPWK. Plato Investment Management Ltd bought a new stake in Upwork in the second quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Upwork in the second quarter worth about $29,000. Quarry LP raised its holdings 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 buying an additional 2,220 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Upwork in the first quarter worth approximately $49,000. Finally, KBC Group NV increased its position in shares of Upwork by 45.4% during the third 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 in the last quarter. Institutional investors own 77.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on UPWK shares. The Goldman Sachs Group increased their price objective on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. BTIG Research increased their price target on shares of Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group boosted their price objective on shares of Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. UBS Group cut their price objective 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, Roth Mkm lifted their target price on shares of Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Upwork presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

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.