Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie Sells 1,518 Shares

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 1,518 shares of Upwork stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $10.57, for a total transaction of $16,045.26. Following the completion of the sale, the chief accounting officer now owns 12,608 shares of the company’s stock, valued at $133,266.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 transaction 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 transaction of $3,378.18.
• On Thursday, July 18th, Olivier Marie sold 225 shares of Upwork stock. The stock was sold at an average price of $11.40, for a total transaction of $2,565.00.

Upwork Stock Down 0.6 %

Shares of NASDAQ:UPWK opened at $10.71 on Monday. The stock’s 50-day moving average price is $10.30 and its two-hundred day moving average price is $11.07. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 0.99. Upwork Inc. has a 12-month low of $8.43 and a 12-month high of $16.36. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 30.60 and a beta of 1.54.

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

Hedge Funds Weigh In On Upwork

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its holdings in Upwork by 239.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock worth $33,491,000 after purchasing an additional 1,589,693 shares during the last quarter. Divisadero Street Capital Management LP increased its holdings in shares of Upwork by 32.9% in the 2nd quarter. Divisadero Street Capital Management LP now owns 3,320,912 shares of the company’s stock valued at $35,700,000 after acquiring an additional 822,518 shares during the last quarter. Norges Bank bought a new stake in shares of Upwork in the 4th quarter valued at approximately $11,486,000. Vanguard Group Inc. increased its holdings in shares of Upwork by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock valued at $196,115,000 after acquiring an additional 770,088 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Upwork by 71.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,635,602 shares of the company’s stock valued at $17,572,000 after acquiring an additional 679,028 shares during the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada cut their price target on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Canaccord Genuity Group cut their target price on shares of Upwork from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. UBS Group dropped their price target on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Roth Mkm decreased their price target on Upwork from $19.00 to $13.00 and set a “buy” rating for the company in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.70.

About Upwork

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.