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

Upwork Inc. (NASDAQ:UPWKGet Free Report) CAO Olivier Marie sold 1,448 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total value of $24,775.28. Following the transaction, the chief accounting officer now directly owns 3,895 shares in the company, valued at approximately $66,643.45. This represents a 27.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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 value of $14,797.14.
  • 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.

Upwork Stock Up 1.2 %

Upwork stock opened at $16.44 on Friday. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average of $14.77 and a 200-day moving average of $11.95. The stock has a market capitalization of $2.20 billion, a PE ratio of 26.10 and a beta of 1.58.

Upwork (NASDAQ:UPWKGet Free Report) 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. The firm had revenue of $193.78 million during the quarter, compared to analysts’ expectations of $185.55 million. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The company’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. On average, equities research analysts anticipate that Upwork Inc. will post 0.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Upwork

Several institutional investors have recently bought and sold shares of UPWK. KBC Group NV raised its holdings in shares of Upwork by 45.4% in the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after purchasing an additional 1,497 shares during the last quarter. Quarry LP boosted its stake in shares of Upwork by 42.6% during the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after buying an additional 1,851 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Upwork by 0.6% in the 2nd quarter. Federated Hermes Inc. now owns 318,659 shares of the company’s stock valued at $3,426,000 after acquiring an additional 1,996 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Upwork by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 66,809 shares of the company’s stock valued at $718,000 after acquiring an additional 2,063 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its holdings in Upwork by 18.4% during the third quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company’s stock worth $143,000 after acquiring an additional 2,129 shares in the last quarter. Institutional investors own 77.71% of the company’s stock.

Analysts Set New Price Targets

UPWK has been the topic of several analyst reports. Canaccord Genuity Group increased their price objective on shares of Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler restated an “overweight” rating and issued a $18.00 price target (up from $13.00) on shares of Upwork in a research report on Thursday, November 7th. BTIG Research upped their price objective on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Citigroup increased their target price on Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Finally, UBS Group boosted their target price on Upwork from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.36.

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About Upwork

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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.

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