Insider Selling: Upwork Inc. (NASDAQ:UPWK) CAO Sells 9,153 Shares of Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 9,153 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.92, for a total transaction of $145,715.76. Following the sale, the chief accounting officer now owns 1,294 shares of the company’s stock, valued at approximately $20,600.48. The trade was a 87.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• 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.
• On Wednesday, September 18th, Olivier Marie sold 1,518 shares of Upwork stock. The shares were sold at an average price of $10.57, for a total transaction of $16,045.26.
• On Monday, August 19th, Olivier Marie sold 1,005 shares of Upwork stock. The stock was sold at an average price of $9.65, for a total value of $9,698.25.

Upwork Stock Performance

Shares of UPWK stock opened at $14.91 on Friday. The firm has a 50 day moving average of $11.71 and a two-hundred day moving average of $11.13. The stock has a market capitalization of $1.99 billion, a PE ratio of 23.67 and a beta of 1.49. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.87. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $17.79.

Upwork (NASDAQ:UPWK) last released its earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The firm had revenue of $193.78 million during the quarter, compared to analyst estimates of $185.55 million. During the same period last year, the business posted $0.12 earnings per share. Upwork’s revenue was up 10.3% compared to the same quarter last year. On average, research analysts predict that Upwork Inc. will post 0.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on UPWK shares. Roth Mkm upped their price target on Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Citigroup lowered their target price on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. JMP Securities boosted their price target on shares of Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. UBS Group lowered their price objective on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Royal Bank of Canada dropped their target price on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.00.

Hedge Funds Weigh In On Upwork

Institutional investors and hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board grew its stake in shares of Upwork by 186.8% during the second quarter. Canada Pension Plan Investment Board now owns 306,900 shares of the company’s stock worth $3,299,000 after purchasing an additional 199,900 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Upwork by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock valued at $196,115,000 after acquiring an additional 770,088 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Upwork during the 1st quarter worth about $3,165,000. Acadian Asset Management LLC lifted its stake in Upwork by 19.0% during the first quarter. Acadian Asset Management LLC now owns 956,574 shares of the company’s stock worth $11,720,000 after purchasing an additional 152,539 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new position in Upwork in the first quarter valued at approximately $567,000. 77.71% of the stock is owned by institutional investors and hedge funds.

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.