Upwork Inc. (NASDAQ:UPWK) CAO Sells $25,366.50 in Stock

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

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

• On Monday, June 23rd, Olivier Marie sold 1,842 shares of Upwork stock. The shares were sold at an average price of $13.24, for a total transaction of $24,388.08.
• 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 transaction of $9,903.52.
• 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 shares were 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 Stock Performance

Shares of UPWK traded up $0.19 during mid-day trading on Thursday, hitting $13.57. 2,439,697 shares of the company traded hands, compared to its average volume of 2,298,243. 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 stock has a 50-day moving average price of $14.81 and a two-hundred day moving average price of $15.02. Upwork Inc. has a 1 year low of $8.43 and a 1 year high of $18.14. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 8.13 and a beta of 1.44.

Upwork (NASDAQ:UPWK - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. The business had revenue of $192.71 million during 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%. The company's revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share. Equities analysts anticipate that Upwork Inc. will post 0.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BTIG Research lowered shares of Upwork from a "buy" rating to a "neutral" rating in a report on Friday, April 4th. 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 target on the stock. Wall Street Zen raised shares of Upwork from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Citigroup reissued an "outperform" rating on shares of Upwork in a research report on Friday, May 16th. Finally, Needham & Company LLC restated a "buy" rating and issued a $19.00 target price on shares of Upwork in a report on Tuesday, May 6th. Four investment 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.67.

Institutional Investors Weigh In On Upwork

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Upwork by 51.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company's stock worth $253,405,000 after purchasing an additional 5,289,493 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Upwork by 364.5% in the 1st quarter. LSV Asset Management now owns 5,351,406 shares of the company's stock valued at $69,836,000 after buying an additional 4,199,244 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Upwork by 41.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,660,511 shares of the company's stock valued at $60,820,000 after buying an additional 1,357,476 shares in the last quarter. Dorsey Asset Management LLC boosted its stake in Upwork by 15.0% in the 4th quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company's stock worth $49,788,000 after purchasing an additional 397,997 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Upwork by 50.5% in the 1st quarter. Invesco Ltd. now owns 2,630,379 shares of the company's stock worth $34,326,000 after purchasing an additional 882,059 shares in the last quarter. Hedge funds and other institutional investors 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.