Olivier Marie Sells 1,460 Shares of Upwork Inc. (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 1,460 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total value of $19,082.20. Following the transaction, the chief accounting officer now directly owns 3,881 shares in the company, valued at $50,724.67. This trade represents a 27.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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.
• 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 value 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 value of $4,112.00.

Upwork Stock Performance

Upwork stock opened at $13.57 on Friday. The stock’s 50 day simple moving average is $15.39 and its two-hundred day simple moving average is $14.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 8.87 and a beta of 1.61. Upwork Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $18.14.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. As a group, analysts expect that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Institutional Trading of Upwork

Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $253,405,000 after purchasing an additional 5,289,493 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Upwork by 86.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company’s stock worth $54,005,000 after purchasing an additional 1,534,078 shares in the last quarter. Dorsey Asset Management LLC boosted its position in shares of 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. Two Sigma Investments LP boosted its position in shares of Upwork by 49.2% in the 4th quarter. Two Sigma Investments LP now owns 2,436,680 shares of the company’s stock worth $39,840,000 after purchasing an additional 803,929 shares in the last quarter. Finally, Invenomic Capital Management LP boosted its position in shares of Upwork by 12.5% in the 3rd quarter. Invenomic Capital Management LP now owns 2,334,612 shares of the company’s stock worth $24,397,000 after purchasing an additional 260,274 shares in the last quarter. 77.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on UPWK shares. Royal Bank of Canada raised their price objective on Upwork from $16.00 to $18.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Jefferies Financial Group increased their target price on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Scotiabank initiated coverage on Upwork in a research note on Wednesday, March 12th. They issued a “sector perform” rating and a $15.00 target price on the stock. Roth Mkm cut their target price on Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Needham & Company LLC raised their target price on Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.58.

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.