Upwork Inc. (NASDAQ:UPWK) CAO Sells $24,775.28 in Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 1,448 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $17.11, for a total value of $24,775.28. Following the completion of the sale, the chief accounting officer now owns 3,895 shares of the company’s stock, valued at $66,643.45. This trade represents a 27.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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 transaction 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 traded up $0.20 on Friday, reaching $16.44. 3,093,067 shares of the stock traded hands, compared to its average volume of 2,170,488. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 26.10 and a beta of 1.58. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87. The company’s 50 day moving average is $14.77 and its 200-day moving average is $11.95.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. The company had revenue of $193.78 million during the quarter, compared to analysts’ expectations of $185.55 million. Upwork had a net margin of 11.26% and a return on equity of 22.84%. Upwork’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.12 earnings per share. Equities research analysts anticipate that Upwork Inc. will post 0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in UPWK. Bristlecone Advisors LLC grew its stake in Upwork by 89.1% during the second quarter. Bristlecone Advisors LLC now owns 23,231 shares of the company’s stock worth $250,000 after purchasing an additional 10,945 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Upwork during the 2nd quarter worth approximately $54,000. Legato Capital Management LLC acquired a new stake in shares of Upwork during the 2nd quarter worth approximately $575,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Upwork in the 2nd quarter valued at $29,000. Finally, Panagora Asset Management Inc. increased its stake in shares of Upwork by 7.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 130,610 shares of the company’s stock valued at $1,404,000 after acquiring an additional 9,528 shares in the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Roth Mkm boosted their target price on shares of Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. BTIG Research upped 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. The Goldman Sachs Group boosted their price objective on Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Piper Sandler reissued an “overweight” rating and set a $18.00 price target (up from $13.00) on shares of Upwork in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.36.

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.