Olivier Marie Sells 1,081 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 1,081 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total transaction of $17,458.15. Following the completion of the transaction, the chief accounting officer now directly owns 2,840 shares of the company’s stock, valued at approximately $45,866. The trade was a 27.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, February 14th, Olivier Marie sold 335 shares of Upwork stock. The stock was sold at an average price of $16.48, for a total value of $5,520.80.
• On Tuesday, January 21st, Olivier Marie sold 257 shares of Upwork stock. The shares were sold at an average price of $16.00, for a total value of $4,112.00.
• On Wednesday, December 18th, Olivier Marie sold 1,448 shares of Upwork stock. The stock was sold at an average price of $17.11, for a total value of $24,775.28.

Upwork Price Performance

UPWK opened at $16.76 on Friday. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $16.32 and its 200 day moving average price is $13.61. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 10.95 and a beta of 1.57.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. As a group, sell-side analysts expect that Upwork Inc. will post 0.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. JMP Securities reissued a “market outperform” rating and set a $18.00 price objective on shares of Upwork in a report on Thursday, January 30th. Roth Mkm cut their target price on shares of Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Canaccord Genuity Group increased their price target 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. Finally, Jefferies Financial Group boosted their price objective on Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, January 6th. 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, Upwork has an average rating of “Moderate Buy” and an average price target of $18.91.

Institutional Investors Weigh In On Upwork

A number of hedge funds have recently added to or reduced their stakes in the stock. CWM LLC increased its holdings in shares of Upwork by 71.9% in the 3rd quarter. CWM LLC now owns 5,896 shares of the company’s stock worth $62,000 after acquiring an additional 2,467 shares during the period. Creative Planning bought a new position in Upwork in the 3rd quarter worth about $207,000. Assenagon Asset Management S.A. increased its stake in shares of Upwork by 121.0% in the third quarter. Assenagon Asset Management S.A. now owns 433,934 shares of the company’s stock valued at $4,535,000 after purchasing an additional 237,601 shares during the period. Bristlecone Advisors LLC increased its stake in shares of Upwork by 80.9% in the third quarter. Bristlecone Advisors LLC now owns 42,023 shares of the company’s stock valued at $439,000 after purchasing an additional 18,792 shares during the period. Finally, Smith Group Asset Management LLC raised its holdings in shares of Upwork by 24.9% during the third quarter. Smith Group Asset Management LLC now owns 36,398 shares of the company’s stock valued at $380,000 after buying an additional 7,252 shares during the last quarter. 77.71% of the stock is currently owned by institutional investors.

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.