Insider Selling: Upwork Inc. (NASDAQ:UPWK) CAO Sells 1,879 Shares of Stock

Upwork Inc. (NASDAQ:UPWK - Get Free Report) CAO Olivier Marie sold 1,879 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $13.50, for a total value of $25,366.50. Following the completion of the sale, the chief accounting officer now directly owns 4,632 shares of the company's stock, valued at approximately $62,532. This trade represents a 28.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, May 20th, Olivier Marie sold 1,655 shares of Upwork stock. The shares were 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 Down 0.5%

Shares of NASDAQ UPWK traded down $0.07 during midday trading on Monday, reaching $13.07. 3,287,541 shares of the stock were exchanged, compared to its average volume of 2,279,736. The stock has a 50 day moving average price of $14.76 and a 200-day moving average price of $15.10. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $1.72 billion, a P/E ratio of 7.83 and a beta of 1.44. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14.

Upwork (NASDAQ:UPWK - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. The firm had revenue of $192.71 million for the quarter, compared to analyst estimates of $188.49 million. Upwork had a net margin of 30.46% and a return on equity of 48.38%. Upwork's revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 earnings per share. Equities research analysts expect that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Upwork

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

Analysts Set New Price Targets

A number of research firms recently weighed in on UPWK. Needham & Company LLC restated a "buy" rating and issued a $19.00 price target on shares of Upwork in a report on Tuesday, May 6th. Jefferies Financial Group decreased their target price on Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Wall Street Zen upgraded Upwork from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $18.00 price objective on shares of Upwork in a research report on Monday, June 2nd. Finally, BTIG Research downgraded shares of Upwork from a "buy" rating to a "neutral" rating in a report on Friday, April 4th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Upwork has an average rating of "Moderate Buy" and an average target price 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.

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