Upwork Inc. (NASDAQ:UPWK) CAO Sells $16,045.26 in Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 1,518 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $10.57, for a total value of $16,045.26. Following the completion of the transaction, the chief accounting officer now directly owns 12,608 shares in the company, valued at $133,266.56. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, August 19th, Olivier Marie sold 1,005 shares of Upwork stock. The shares were sold at an average price of $9.65, for a total value of $9,698.25.
• On Monday, August 12th, Olivier Marie sold 366 shares of Upwork stock. The shares were sold at an average price of $9.23, for a total value of $3,378.18.
• On Thursday, July 18th, Olivier Marie sold 225 shares of Upwork stock. The shares were sold at an average price of $11.40, for a total value of $2,565.00.

Upwork Trading Down 0.6 %

NASDAQ:UPWK opened at $10.71 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.00 and a quick ratio of 3.00. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 30.60 and a beta of 1.54. Upwork Inc. has a one year low of $8.43 and a one year high of $16.36. The business has a fifty day moving average price of $10.30 and a 200-day moving average price of $11.07.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Upwork had a return on equity of 20.75% and a net margin of 10.00%. The business had revenue of $193.13 million during the quarter, compared to analyst estimates of $193.05 million. During the same quarter in the prior year, the business posted ($0.03) EPS. Upwork’s revenue for the quarter was up 14.5% compared to the same quarter last year. Sell-side analysts forecast that Upwork Inc. will post 0.51 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Roth Mkm lowered their price target on Upwork from $19.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Canaccord Genuity Group lowered their price target on Upwork from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada lowered their price target on Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group lowered their price target on Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Piper Sandler lowered their price target on Upwork from $20.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.70.

Institutional Investors Weigh In On Upwork

Institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC boosted its stake in Upwork by 67.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock valued at $30,000 after buying an additional 803 shares during the last quarter. Essex Investment Management Co. LLC raised its stake in shares of Upwork by 56.2% in the first quarter. Essex Investment Management Co. LLC now owns 4,724 shares of the company’s stock valued at $58,000 after acquiring an additional 1,700 shares during the period. ProShare Advisors LLC increased its stake in Upwork by 8.6% in the 1st quarter. ProShare Advisors LLC now owns 22,483 shares of the company’s stock worth $276,000 after buying an additional 1,771 shares during the period. Federated Hermes Inc. increased its stake in Upwork by 0.6% in the 2nd quarter. Federated Hermes Inc. now owns 318,659 shares of the company’s stock worth $3,426,000 after buying an additional 1,996 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Upwork by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,809 shares of the company’s stock worth $718,000 after buying an additional 2,063 shares during the period. 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.