Insider Selling: Upwork Inc. (NASDAQ:UPWK) CAO Sells 1,842 Shares of Stock

Upwork Inc. (NASDAQ:UPWK - Get Free Report) CAO Olivier Marie sold 1,842 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $13.24, for a total value of $24,388.08. Following the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at $27,036.08. This trade represents a 47.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, June 20th, Olivier Marie sold 748 shares of Upwork stock. The shares were sold at an average price of $13.24, for a total transaction of $9,903.52.
• On Wednesday, June 18th, Olivier Marie sold 1,879 shares of Upwork stock. The shares were sold at an average price of $13.50, for a total transaction of $25,366.50.
• On Tuesday, May 20th, Olivier Marie sold 1,655 shares of Upwork stock. The stock was sold at an average price of $16.41, for a total transaction 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 shares were sold at an average price of $17.14, for a total transaction of $53,219.70.

Upwork Trading Up 0.7%

Shares of Upwork stock traded up $0.09 on Friday, hitting $13.66. 1,431,366 shares of the company's stock traded hands, compared to its average volume of 2,295,941. The company has a fifty day moving average of $14.81 and a two-hundred day moving average of $15.02. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 8.12 and a beta of 1.44. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.41 and a quick ratio of 3.41. Upwork Inc. has a one year low of $8.43 and a one year high of $18.14.

Upwork (NASDAQ:UPWK - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.25 by $0.09. Upwork had a net margin of 30.46% and a return on equity of 48.38%. The company had revenue of $192.71 million during the quarter, compared to the consensus estimate of $188.49 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm's revenue for the quarter was up .9% on a year-over-year basis. As a group, sell-side analysts expect that Upwork Inc. will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. IFP Advisors Inc raised its holdings in Upwork by 3,492.8% in the first quarter. IFP Advisors Inc now owns 3,988 shares of the company's stock worth $52,000 after purchasing an additional 3,877 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Upwork by 1,235.1% during the first quarter. GAMMA Investing LLC now owns 4,072 shares of the company's stock valued at $53,000 after purchasing an additional 3,767 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Upwork during the 4th quarter valued at $84,000. Alpine Global Management LLC bought a new position in Upwork in the first quarter valued at about $130,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Upwork in the first quarter worth approximately $140,000. 77.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Needham & Company LLC reissued a "buy" rating and issued a $19.00 price objective on shares of Upwork in a research note on Tuesday, May 6th. Jefferies Financial Group reduced their price objective on Upwork from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, April 7th. JMP Securities increased their target price on shares of Upwork from $18.00 to $20.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. BTIG Research cut shares of Upwork from a "buy" rating to a "neutral" rating in a report on Friday, April 4th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $18.00 price target on shares of Upwork in a report on Monday, June 2nd. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.