Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie Sells 1,294 Shares

Key Points

• Upwork Inc. CAO Olivier Marie sold 1,294 shares at an average price of $14.00, resulting in a total of $18,116.00 from the transaction, significantly reducing his ownership by 63.37%.
• The company's recent quarterly earnings report showed earnings per share of $0.35, beating expectations and indicating a revenue increase to $194.94 million.
• Upwork has attracted significant institutional buying, with a number of firms significantly increasing their positions in the stock during the second quarter.

Upwork Inc. (NASDAQ:UPWK - Get Free Report) CAO Olivier Marie sold 1,294 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $14.00, for a total transaction of $18,116.00. Following the transaction, the chief accounting officer owned 748 shares in the company, valued at $10,472. This represents a 63.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, August 18th, Olivier Marie sold 941 shares of Upwork stock. The shares were sold at an average price of $13.84, for a total transaction of $13,023.44.
• 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 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 shares were sold at an average price of $16.41, for a total transaction of $27,158.55.

Upwork Price Performance

Shares of Upwork stock traded up $0.19 on Monday, reaching $13.99. 1,737,387 shares of the stock were exchanged, compared to its average volume of 2,489,098. The firm's 50 day moving average is $13.36 and its 200-day moving average is $14.16. Upwork Inc. has a one year low of $8.90 and a one year high of $18.14. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.36 and a current ratio of 3.36. The firm has a market cap of $1.86 billion, a PE ratio of 8.04 and a beta of 1.38.

Upwork (NASDAQ:UPWK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.09. Upwork had a net margin of 31.75% and a return on equity of 44.83%. The company had revenue of $194.94 million during the quarter, compared to the consensus estimate of $187.56 million. During the same quarter in the prior year, the firm posted $0.26 EPS. The firm's quarterly revenue was up .9% on a year-over-year basis. As a group, analysts anticipate that Upwork Inc. will post 0.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on UPWK shares. Needham & Company LLC reiterated a "buy" rating and issued a $19.00 price target on shares of Upwork in a research note on Tuesday, May 6th. Citigroup reiterated an "outperform" rating on shares of Upwork in a research note on Friday, May 16th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $18.00 price objective on shares of Upwork in a report on Monday, June 2nd. JMP Securities boosted their price objective on shares of Upwork from $18.00 to $20.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Finally, Wall Street Zen downgraded shares of Upwork from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $18.67.

Institutional Trading of Upwork

Institutional investors and hedge funds have recently made changes to their positions in the company. Elevation Point Wealth Partners LLC acquired a new position in Upwork during the 2nd quarter worth approximately $30,000. LRI Investments LLC increased its position in Upwork by 415.9% during the 2nd quarter. LRI Investments LLC now owns 2,528 shares of the company's stock worth $34,000 after purchasing an additional 2,038 shares in the last quarter. EMC Capital Management acquired a new position in Upwork during the 2nd quarter worth approximately $45,000. EverSource Wealth Advisors LLC increased its position in Upwork by 19,361.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,503 shares of the company's stock worth $47,000 after purchasing an additional 3,485 shares in the last quarter. Finally, IFP Advisors Inc increased its position in Upwork by 3,492.8% during the 1st 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. Institutional investors own 77.71% of the company's stock.

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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