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 firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total transaction of $19,082.20. Following the sale, the chief accounting officer now owns 3,881 shares in the company, valued at approximately $50,724.67. The trade was a 27.34 % decrease in their ownership of the stock. The sale 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 Tuesday, February 18th, Olivier Marie sold 1,081 shares of Upwork stock. The stock was sold at an average price of $16.15, for a total value 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 value 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 value of $4,112.00.

Upwork Stock Up 0.9 %

UPWK stock opened at $13.57 on Friday. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14. The business’s 50 day simple moving average is $15.39 and its 200 day simple moving average is $14.30. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $1.84 billion, a PE ratio of 8.87 and a beta of 1.61.

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

Institutional Investors Weigh In On Upwork

Institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Upwork by 51.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock worth $253,405,000 after purchasing an additional 5,289,493 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Upwork by 86.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company’s stock valued at $54,005,000 after buying an additional 1,534,078 shares in the last quarter. Dorsey Asset Management LLC increased its position in Upwork by 15.0% during the 4th quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company’s stock worth $49,788,000 after buying an additional 397,997 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Upwork by 49.2% during the fourth quarter. Two Sigma Investments LP now owns 2,436,680 shares of the company’s stock worth $39,840,000 after buying an additional 803,929 shares in the last quarter. Finally, Invenomic Capital Management LP boosted its position in shares of Upwork by 12.5% in the third quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company’s stock valued at $24,397,000 after acquiring an additional 260,274 shares during the period. Institutional investors own 77.71% of the company’s stock.

Wall Street Analysts Forecast Growth

UPWK has been the subject of several research reports. Jefferies Financial Group raised their price target on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $18.00 target price on shares of Upwork in a research report on Thursday, January 30th. UBS Group increased their price objective on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Needham & Company LLC lifted their target price on Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Scotiabank initiated coverage on Upwork in a research report on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.58.

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.