Upwork Inc. (NASDAQ:UPWK) CAO Sells $17,458.15 in Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 1,081 shares of Upwork stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total transaction of $17,458.15. Following the completion of the sale, the chief accounting officer now owns 2,840 shares of the company’s stock, valued at $45,866. This represents a 27.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, February 14th, Olivier Marie sold 335 shares of Upwork stock. The shares were sold at an average price of $16.48, for a total transaction of $5,520.80.
• On Tuesday, January 21st, Olivier Marie sold 257 shares of Upwork stock. The shares were sold at an average price of $16.00, for a total transaction of $4,112.00.
• On Wednesday, December 18th, Olivier Marie sold 1,448 shares of Upwork stock. The shares were sold at an average price of $17.11, for a total transaction of $24,775.28.

Upwork Stock Performance

Shares of NASDAQ:UPWK traded up $0.57 during midday trading on Wednesday, reaching $17.44. The company had a trading volume of 5,207,853 shares, compared to its average volume of 2,682,205. The company’s 50 day moving average price is $16.32 and its 200 day moving average price is $13.56. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. The stock has a market cap of $2.36 billion, a P/E ratio of 11.40 and a beta of 1.57. Upwork Inc. has a 52-week low of $8.43 and a 52-week high of $18.14.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. As a group, sell-side analysts anticipate that Upwork Inc. will post 0.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Upwork

Several institutional investors have recently added to or reduced their stakes in UPWK. Price T Rowe Associates Inc. MD lifted its holdings in Upwork by 51.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock valued at $253,405,000 after purchasing an additional 5,289,493 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Upwork by 1,674.0% in the fourth quarter. Invesco Ltd. now owns 1,748,320 shares of the company’s stock worth $28,585,000 after buying an additional 1,649,766 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Upwork by 86.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company’s stock worth $54,005,000 after buying an additional 1,534,078 shares in the last quarter. Contour Asset Management LLC purchased a new stake in shares of Upwork in the fourth quarter worth about $24,633,000. Finally, LSV Asset Management purchased a new stake in shares of Upwork in the fourth quarter worth about $18,838,000. 77.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UPWK has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on shares of Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Canaccord Genuity Group upped their target price on shares of Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JMP Securities reiterated a “market outperform” rating and issued a $18.00 target price on shares of Upwork in a research note on Thursday, January 30th. Roth Mkm reduced their target price on shares of Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Needham & Company LLC upped their target price on shares of Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.91.

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.