Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie Sells 978 Shares

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 978 shares of the business’s stock in a transaction dated 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. This trade represents a 24.94 % 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 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 value of $145,715.76.
• On Friday, October 18th, Olivier Marie sold 223 shares of Upwork stock. The stock was sold at an average price of $10.30, for a total value 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 value of $16,045.26.

Upwork Price Performance

Shares of UPWK traded up $0.04 during mid-day trading on Wednesday, hitting $14.97. The company’s stock had a trading volume of 1,297,842 shares, compared to its average volume of 2,174,194. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 23.70 and a beta of 1.49. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $17.79. 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 firm has a 50-day moving average price of $11.94 and a 200 day moving average price of $11.15.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on UPWK shares. BTIG Research lifted their price objective on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada lowered their price objective on Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Citigroup decreased their target price on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. The Goldman Sachs Group lifted their price objective on shares of Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group lowered their price target on Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Plato Investment Management Ltd bought a new stake in Upwork in the second quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Upwork during the second quarter valued at approximately $29,000. Quarry LP increased its holdings in shares of Upwork by 104.2% in the second quarter. Quarry LP now owns 4,350 shares of the company’s stock valued at $47,000 after purchasing an additional 2,220 shares in the last quarter. KBC Group NV raised its position in Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after purchasing an additional 1,497 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Upwork in the 2nd quarter valued at $54,000. 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.