Upwork Inc. (NASDAQ:UPWK) CAO Sells $11,586.78 in Stock

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Upwork Inc. (NASDAQ:UPWK - Get Free Report) CAO Olivier Marie sold 998 shares of Upwork stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $11.61, for a total transaction of $11,586.78. Following the sale, the chief accounting officer now owns 9,194 shares in the company, valued at $106,742.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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Upwork Capitalizes on the Growing AI Gig Economy

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

On Thursday, May 16th, Olivier Marie sold 3,106 shares of Upwork stock. The stock was sold at an average price of $12.13, for a total transaction of $37,675.78.
On Thursday, April 18th, Olivier Marie sold 223 shares of Upwork stock. The stock was sold at an average price of $11.20, for a total value of $2,497.60.
On Monday, March 18th, Olivier Marie sold 967 shares of Upwork stock. The shares were sold at an average price of $12.20, for a total value of $11,797.40.
On Thursday, February 22nd, Olivier Marie sold 1,491 shares of Upwork stock. The stock was sold at an average price of $13.03, for a total value of $19,427.73.

Upwork Trading Up 0.3 %

UPWK stock traded up $0.03 during midday trading on Tuesday, hitting $11.60. 1,687,127 shares of the company's stock were exchanged, compared to its average volume of 2,043,547. Upwork Inc. has a one year low of $7.54 and a one year high of $16.36. The stock's fifty day moving average price is $11.96 and its 200-day moving average price is $13.33. The company has a market cap of $1.54 billion, a PE ratio of 33.14 and a beta of 1.66. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.93 and a current ratio of 2.93.

Analyst Ratings Changes

3 reasons Upwork is about to rally 30%

Several equities research analysts have recently weighed in on UPWK shares. JMP Securities upped their target price on shares of Upwork from $16.00 to $17.00 and gave the stock a "market outperform" rating in a report on Thursday, February 15th. The Goldman Sachs Group upped their price objective on shares of Upwork from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, February 15th. UBS Group lifted their target price on shares of Upwork from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Thursday, February 15th. Royal Bank of Canada lowered their price objective on shares of Upwork from $18.00 to $15.00 and set a "sector perform" rating for the company in a research report on Thursday, May 2nd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $20.00 price target on shares of Upwork in a report on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $17.80.

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Hedge Funds Weigh In On Upwork

Upwork underscores the strength of the AI gig economy

Several institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Upwork by 33.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,648 shares of the company's stock valued at $303,000 after buying an additional 6,683 shares during the period. Strs Ohio bought a new position in Upwork during the 3rd quarter worth about $198,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Upwork by 11.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,503 shares of the company's stock worth $653,000 after purchasing an additional 5,956 shares in the last quarter. Capula Management Ltd acquired a new stake in shares of Upwork in the 3rd quarter valued at about $1,139,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Upwork in the third quarter valued at about $691,000. 77.71% of the stock is currently owned by institutional investors and hedge funds.

About Upwork

(Get Free Report)

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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