Upwork Inc. (NASDAQ:UPWK) CAO Sells $14,797.14 in Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 978 shares of Upwork stock in a transaction on Monday, November 18th. The shares were sold at an average price of $15.13, for a total transaction of $14,797.14. Following the completion of the sale, the chief accounting officer now directly owns 2,943 shares of the company’s stock, valued at approximately $44,527.59. The trade was a 24.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Friday, November 8th, Olivier Marie sold 9,153 shares of Upwork stock. The shares were sold at an average price of $15.92, for a total value 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 transaction of $2,296.90.
• On Wednesday, September 18th, Olivier Marie sold 1,518 shares of Upwork stock. The stock was sold at an average price of $10.57, for a total transaction of $16,045.26.

Upwork Stock Performance

Shares of NASDAQ:UPWK opened at $14.97 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.18 and a quick ratio of 3.18. The business’s fifty day moving average price is $12.06 and its two-hundred day moving average price is $11.18. 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 capitalization of $2.00 billion, a price-to-earnings ratio of 23.76 and a beta of 1.49.

Upwork (NASDAQ:UPWK) last posted its earnings results 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 business had revenue of $193.78 million for the quarter, compared to analyst estimates of $185.55 million. Upwork had a net margin of 11.26% and a return on equity of 22.84%. 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 firm earned $0.12 EPS. As a group, analysts predict that Upwork Inc. will post 0.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup dropped their price objective on Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Roth Mkm upped their price target on Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group raised their price objective on shares of Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada dropped their price objective on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Finally, JMP Securities boosted their price target on Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Hedge Funds Weigh In On Upwork

Several institutional investors have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd acquired a new stake in shares of Upwork in the third quarter valued at approximately $355,000. XTX Topco Ltd increased its holdings in Upwork by 198.6% in the third quarter. XTX Topco Ltd now owns 60,509 shares of the company’s stock valued at $632,000 after purchasing an additional 40,242 shares during the last quarter. Tabor Asset Management LP acquired a new position in Upwork in the third quarter valued at about $993,000. Tenzing Global Management LLC lifted its stake in Upwork by 20.0% in the third quarter. Tenzing Global Management LLC now owns 450,000 shares of the company’s stock valued at $4,702,000 after buying an additional 75,000 shares during the period. Finally, Stifel Financial Corp boosted its holdings in Upwork by 228.0% during the third quarter. Stifel Financial Corp now owns 211,569 shares of the company’s stock worth $2,211,000 after buying an additional 147,059 shares during the last quarter. 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.