Olivier Marie Sells 1,448 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 1,448 shares of Upwork stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total transaction of $24,775.28. Following the transaction, the chief accounting officer now owns 3,895 shares in the company, valued at approximately $66,643.45. The trade was a 27.10 % decrease in their ownership of the stock. 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, November 18th, Olivier Marie sold 978 shares of Upwork stock. The stock was sold at an average price of $15.13, for a total transaction of $14,797.14.
• 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 transaction 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 transaction of $2,296.90.

Upwork Stock Up 1.2 %

UPWK stock opened at $16.44 on Monday. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14. The company has a fifty day simple moving average of $14.89 and a 200 day simple moving average of $12.01. The firm has a market cap of $2.20 billion, a PE ratio of 26.10 and a beta of 1.58.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The business had revenue of $193.78 million during the quarter, compared to analyst estimates of $185.55 million. During the same quarter in the previous year, the business earned $0.12 EPS. Upwork’s quarterly revenue was up 10.3% compared to the same quarter last year. Sell-side analysts anticipate that Upwork Inc. will post 0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. UBS Group boosted their price target on shares of Upwork from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. BTIG Research boosted their price target on shares of Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted their price target on shares of Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler restated an “overweight” rating and set a $18.00 price target (up from $13.00) on shares of Upwork in a report on Thursday, November 7th. Finally, JMP Securities boosted their price target on shares of Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.36.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Divisadero Street Capital Management LP lifted its position in Upwork by 32.9% during the 2nd quarter. Divisadero Street Capital Management LP now owns 3,320,912 shares of the company’s stock worth $35,700,000 after acquiring an additional 822,518 shares during the last quarter. Invenomic Capital Management LP lifted its position in Upwork by 12.5% during the 3rd quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company’s stock worth $24,397,000 after acquiring an additional 260,274 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Upwork by 27.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,806,969 shares of the company’s stock worth $19,424,000 after acquiring an additional 389,006 shares during the last quarter. Acadian Asset Management LLC lifted its position in Upwork by 71.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,635,602 shares of the company’s stock worth $17,572,000 after acquiring an additional 679,028 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Upwork by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,011,508 shares of the company’s stock worth $10,570,000 after acquiring an additional 14,680 shares during the last quarter. Institutional investors and hedge funds 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.