Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie Sells 972 Shares

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 972 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $16.79, for a total value of $16,319.88. Following the transaction, the chief accounting officer now owns 2,949 shares of the company’s stock, valued at $49,513.71. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• 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.
• On Tuesday, March 18th, Olivier Marie sold 1,460 shares of Upwork stock. The stock was sold at an average price of $13.07, for a total value of $19,082.20.
• On Tuesday, February 18th, Olivier Marie sold 1,081 shares of Upwork stock. The shares were sold at an average price of $16.15, for a total value of $17,458.15.

Upwork Trading Down 4.0%

Upwork stock opened at $16.55 on Tuesday. The stock has a 50-day simple moving average of $13.78 and a 200 day simple moving average of $15.25. The stock has a market capitalization of $2.18 billion, a P/E ratio of 10.82 and a beta of 1.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. Upwork Inc. has a 52 week low of $8.43 and a 52 week high of $18.14.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.09. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The business had revenue of $192.71 million during the quarter, compared to the consensus estimate of $188.49 million. During the same quarter last year, the firm posted $0.22 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. Analysts expect that Upwork Inc. will post 0.84 earnings per share for the current year.

Institutional Investors Weigh In On Upwork

Institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in Upwork by 51.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company’s stock valued at $253,405,000 after buying an additional 5,289,493 shares in the last quarter. LSV Asset Management grew its stake in shares of Upwork by 364.5% in the first quarter. LSV Asset Management now owns 5,351,406 shares of the company’s stock valued at $69,836,000 after acquiring an additional 4,199,244 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Upwork by 41.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,660,511 shares of the company’s stock valued at $60,820,000 after acquiring an additional 1,357,476 shares in the last quarter. Dorsey Asset Management LLC increased its position in Upwork by 15.0% during the fourth quarter. Dorsey Asset Management LLC now owns 3,045,142 shares of the company’s stock worth $49,788,000 after acquiring an additional 397,997 shares during the period. Finally, Invesco Ltd. raised 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. Institutional investors own 77.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on UPWK shares. Roth Mkm decreased their price objective on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price target on shares of Upwork in a report on Tuesday, May 6th. Citigroup reissued an “outperform” rating on shares of Upwork in a research report on Friday. BTIG Research cut shares of Upwork from a “buy” rating to a “neutral” rating in a research report on Friday, April 4th. Finally, Jefferies Financial Group lowered their target price on Upwork from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 7th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.