Olivier Marie Sells 9,530 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 9,530 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $14.34, for a total value of $136,660.20. Following the transaction, the chief accounting officer now owns 9,148 shares of the company’s stock, valued at $131,182.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, August 31st, Olivier Marie sold 5,835 shares of Upwork stock. The shares were sold at an average price of $15.20, for a total transaction of $88,692.00.
• On Friday, August 18th, Olivier Marie sold 1,488 shares of Upwork stock. The shares were sold at an average price of $13.86, for a total transaction of $20,623.68.
• On Tuesday, July 18th, Olivier Marie sold 222 shares of Upwork stock. The stock was sold at an average price of $10.65, for a total transaction of $2,364.30.
• On Tuesday, June 20th, Olivier Marie sold 963 shares of Upwork stock. The shares were sold at an average price of $9.14, for a total transaction of $8,801.82.

Upwork Stock Up 1.0 %

UPWK stock opened at $14.96 on Friday. The company’s 50 day moving average price is $11.72 and its 200 day moving average price is $10.54. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -29.92 and a beta of 1.54. Upwork Inc. has a fifty-two week low of $6.56 and a fifty-two week high of $18.58. The company has a debt-to-equity ratio of 1.16, a quick ratio of 3.06 and a current ratio of 3.06.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.07. Upwork had a negative net margin of 4.33% and a negative return on equity of 10.36%. The company had revenue of $168.61 million during the quarter, compared to analysts’ expectations of $162.71 million. On average, equities research analysts anticipate that Upwork Inc. will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Upwork

Several large investors have recently bought and sold shares of the business. Ancient Art L.P. boosted its position in shares of Upwork by 7.1% during the 4th quarter. Ancient Art L.P. now owns 2,487,629 shares of the company’s stock worth $25,971,000 after acquiring an additional 164,399 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in Upwork by 150.7% in the first quarter. Vontobel Holding Ltd. now owns 320,559 shares of the company’s stock valued at $3,629,000 after purchasing an additional 192,708 shares in the last quarter. SG Americas Securities LLC increased its stake in Upwork by 114.6% in the first quarter. SG Americas Securities LLC now owns 77,593 shares of the company’s stock valued at $878,000 after purchasing an additional 41,434 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Upwork by 100.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,452 shares of the company’s stock worth $59,000 after purchasing an additional 2,734 shares in the last quarter. Finally, Wealthsource Partners LLC lifted its position in shares of Upwork by 29.8% during the 4th quarter. Wealthsource Partners LLC now owns 28,653 shares of the company’s stock worth $299,000 after buying an additional 6,572 shares during the last quarter. Hedge funds and other institutional investors own 75.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on UPWK. Piper Sandler raised their price target on Upwork from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. Needham & Company LLC raised their target price on Upwork from $11.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. BTIG Research lowered shares of Upwork from a “buy” rating to a “neutral” rating in a research note on Monday, August 28th. JMP Securities raised their price objective on shares of Upwork from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Finally, Citigroup upped their target price on shares of Upwork from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, August 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Upwork has a consensus rating of “Moderate Buy” and an average target price of $16.00.

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 sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.