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 Upwork stock in a transaction 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 of the company's stock, valued at $27,036.08. This represents a 47.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

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

Upwork Trading Up 2.0%

Shares of Upwork stock traded up $0.26 on Tuesday, hitting $13.33. The stock had a trading volume of 4,012,243 shares, compared to its average volume of 2,286,778. The stock has a 50 day moving average of $14.77 and a 200 day moving average of $15.07. Upwork Inc. has a twelve month low of $8.43 and a twelve month high of $18.14. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.41 and a current ratio of 3.41. The firm has a market capitalization of $1.75 billion, a P/E ratio of 7.83 and a beta of 1.44.

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

Wall Street Analysts Forecast Growth

UPWK has been the subject of several recent analyst reports. Scotiabank initiated coverage on shares of Upwork in a research report on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 price objective for the company. JMP Securities upped their price objective 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. Jefferies Financial Group cut their price objective on shares of Upwork from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $18.00 price objective on shares of Upwork in a research report on Monday, June 2nd. Finally, Wall Street Zen raised shares of Upwork from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Upwork presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.67.

Institutional Trading of Upwork

Several large investors have recently modified their holdings of the stock. Inspire Investing LLC acquired a new stake in shares of Upwork during the 1st quarter worth approximately $750,000. Rhumbline Advisers grew its position in shares of Upwork by 2.5% during the 1st quarter. Rhumbline Advisers now owns 182,660 shares of the company's stock worth $2,384,000 after buying an additional 4,458 shares during the period. Acadian Asset Management LLC grew its position in shares of Upwork by 24.3% during the 1st quarter. Acadian Asset Management LLC now owns 843,330 shares of the company's stock worth $10,996,000 after buying an additional 164,993 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Upwork by 10.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 338,680 shares of the company's stock worth $4,420,000 after buying an additional 31,378 shares during the period. Finally, Teza Capital Management LLC acquired a new stake in shares of Upwork during the 1st quarter worth approximately $265,000. Institutional investors and hedge funds own 77.71% of the company's stock.

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.

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