Upwork Inc. (NASDAQ:UPWK) CAO Sells $17,458.15 in Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 1,081 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total transaction of $17,458.15. Following the transaction, the chief accounting officer now owns 2,840 shares of the company’s stock, valued at approximately $45,866. This represents a 27.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, February 14th, Olivier Marie sold 335 shares of Upwork stock. The shares were 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 stock was 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 shares were sold at an average price of $17.11, for a total value of $24,775.28.

Upwork Trading Up 3.4 %

Shares of UPWK stock opened at $17.44 on Thursday. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 11.40 and a beta of 1.57. The stock has a 50-day moving average of $16.33 and a 200-day moving average of $13.59.

Upwork (NASDAQ:UPWK) last released its earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. On average, equities research analysts forecast that Upwork Inc. will post 0.84 earnings per share for the current year.

Hedge Funds Weigh In On Upwork

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC lifted its stake in shares of Upwork by 71.9% in the 3rd quarter. CWM LLC now owns 5,896 shares of the company’s stock valued at $62,000 after purchasing an additional 2,467 shares during the period. Creative Planning bought a new position in shares of Upwork during the 3rd quarter worth approximately $207,000. Assenagon Asset Management S.A. grew its position in shares of Upwork by 121.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 433,934 shares of the company’s stock worth $4,535,000 after buying an additional 237,601 shares during the period. Bristlecone Advisors LLC grew its position in shares of Upwork by 80.9% during the 3rd quarter. Bristlecone Advisors LLC now owns 42,023 shares of the company’s stock worth $439,000 after buying an additional 18,792 shares during the period. Finally, Smith Group Asset Management LLC increased its stake in shares of Upwork by 24.9% in the 3rd quarter. Smith Group Asset Management LLC now owns 36,398 shares of the company’s stock valued at $380,000 after acquiring an additional 7,252 shares in the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on UPWK. BTIG Research raised their price target on shares of Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JMP Securities reaffirmed a “market outperform” rating and set a $18.00 target price on shares of Upwork in a research note on Thursday, January 30th. UBS Group upped their price target on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Citigroup boosted their price objective on Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Finally, Roth Mkm dropped their target price on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.91.

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 administrative support, sales and marketing, design and creative, and customer service, as well as web, mobile, and software development.