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

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 value of $19,082.20. Following the completion of the sale, the chief accounting officer now owns 3,881 shares of the company’s stock, valued at approximately $50,724.67. This represents a 27.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 stock was 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 0.2 %

Upwork stock traded up $0.03 during trading hours on Thursday, reaching $13.45. The stock had a trading volume of 1,381,989 shares, compared to its average volume of 2,210,246. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 8.79 and a beta of 1.61. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. The business’s 50 day moving average price is $15.43 and its 200-day moving average price is $14.24.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, topping 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%. Sell-side analysts anticipate that Upwork Inc. will post 0.84 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on UPWK shares. Roth Mkm lowered their target price on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and set a $18.00 target price on shares of Upwork in a research note on Thursday, January 30th. Scotiabank started coverage on shares of Upwork in a research note on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 target price for the company. Citigroup boosted their target price 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. Finally, Jefferies Financial Group boosted their target price on shares of Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Upwork currently has an average rating of “Moderate Buy” and a consensus price target of $18.58.

Institutional Investors Weigh In On Upwork

A number of large investors have recently modified their holdings of UPWK. Price T Rowe Associates Inc. MD boosted its position in Upwork by 51.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock valued at $253,405,000 after buying an additional 5,289,493 shares during the last quarter. Invesco Ltd. boosted its position in Upwork by 1,674.0% in the fourth quarter. Invesco Ltd. now owns 1,748,320 shares of the company’s stock valued at $28,585,000 after buying an additional 1,649,766 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Upwork by 86.7% in the fourth 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 during the last quarter. Contour Asset Management LLC purchased a new stake in Upwork in the fourth quarter valued at approximately $24,633,000. Finally, LSV Asset Management purchased a new stake in Upwork in the fourth quarter valued at approximately $18,838,000. Hedge funds and other institutional investors own 77.71% of the company’s stock.

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.