Olivier Marie Sells 1,879 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 1,879 shares of the company’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $13.50, for a total value of $25,366.50. Following the sale, the chief accounting officer now owns 4,632 shares of the company’s stock, valued at $62,532. This represents a 28.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, May 20th, Olivier Marie sold 1,655 shares of Upwork stock. The shares were sold at an average price of $16.41, for a total value of $27,158.55.
• On Monday, May 19th, Olivier Marie sold 972 shares of Upwork stock. The stock was sold at an average price of $16.79, for a total transaction of $16,319.88.
• On Thursday, May 15th, Olivier Marie sold 3,105 shares of Upwork stock. The stock was sold at an average price of $17.14, for a total transaction of $53,219.70.

Upwork Stock Down 0.5%

UPWK traded down $0.07 on Monday, reaching $13.07. The company’s stock had a trading volume of 3,287,541 shares, compared to its average volume of 2,279,736. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.41 and a quick ratio of 3.41. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 7.83 and a beta of 1.44. The business’s 50 day moving average is $14.76 and its 200 day moving average is $15.10.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. The firm had revenue of $192.71 million for the quarter, compared to the consensus estimate of $188.49 million. Upwork had a net margin of 30.46% and a return on equity of 48.38%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS. As a group, research analysts forecast that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Upwork

A number of institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Upwork by 51.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock worth $253,405,000 after purchasing an additional 5,289,493 shares during the period. LSV Asset Management lifted its position in shares of Upwork by 364.5% in the 1st quarter. LSV Asset Management now owns 5,351,406 shares of the company’s stock worth $69,836,000 after buying an additional 4,199,244 shares during the last quarter. Nuveen LLC bought a new position in shares of Upwork in the 1st quarter worth about $22,079,000. Invesco Ltd. boosted its holdings in shares of Upwork by 1,674.0% in the 4th quarter. Invesco Ltd. now owns 1,748,320 shares of the company’s stock valued at $28,585,000 after buying an additional 1,649,766 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of Upwork by 86.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company’s stock valued at $54,005,000 after buying an additional 1,534,078 shares during the last quarter. 77.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on UPWK. Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of Upwork in a research note on Tuesday, May 6th. Jefferies Financial Group cut their price objective on Upwork from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Scotiabank assumed coverage on Upwork in a research note on Wednesday, March 12th. They set a “sector perform” rating and a $15.00 price objective on the stock. Citigroup reiterated an “outperform” rating on shares of Upwork in a research note on Friday, May 16th. Finally, BTIG Research lowered Upwork from a “buy” rating to a “neutral” rating in a research report on Friday, April 4th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.67.

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.