Upwork Inc. (NASDAQ:UPWK) CAO Sells $145,715.76 in Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 9,153 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $15.92, for a total transaction of $145,715.76. Following the completion of the transaction, the chief accounting officer now directly owns 1,294 shares in the company, valued at $20,600.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 shares were sold at an average price of $10.57, for a total value of $16,045.26.
• On Monday, August 19th, Olivier Marie sold 1,005 shares of Upwork stock. The stock was sold at an average price of $9.65, for a total transaction of $9,698.25.

Upwork Price Performance

UPWK stock traded down $0.01 during midday trading on Wednesday, hitting $15.72. 2,258,326 shares of the stock were exchanged, compared to its average volume of 2,178,651. The stock’s 50-day moving average price is $11.50 and its 200-day moving average price is $11.08. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.18 and a current ratio of 3.18. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 24.95 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.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 EPS for the quarter, beating 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 firm had revenue of $193.78 million for the quarter, compared to analysts’ expectations of $185.55 million. During the same period in the prior year, the company earned $0.12 EPS. The firm’s revenue was up 10.3% on a year-over-year basis. Research analysts predict that Upwork Inc. will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of UPWK. BNP Paribas Financial Markets lifted its position in shares of Upwork by 40.9% in the third quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company’s stock valued at $2,630,000 after acquiring an additional 73,104 shares in the last quarter. Cerity Partners LLC acquired a new position in Upwork in the third quarter valued at $1,288,000. Charles Schwab Investment Management Inc. increased its stake in Upwork by 1.5% during the third 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. Intech Investment Management LLC acquired a new position in Upwork during the 3rd quarter worth approximately $401,000. Finally, King Luther Capital Management Corp raised its position in shares of Upwork by 23.6% in the 3rd quarter. King Luther Capital Management Corp now owns 261,166 shares of the company’s stock valued at $2,729,000 after purchasing an additional 49,903 shares in the last quarter. 77.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler restated an “overweight” rating and set a $18.00 target price (up from $13.00) on shares of Upwork in a report on Thursday, November 7th. BTIG Research boosted their target price on Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Roth Mkm lifted their price target on shares of Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Citigroup cut their price target on Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Finally, 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 report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Upwork currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

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.