Insider Selling: Upwork Inc. (NASDAQ:UPWK) CAO Sells $14,557.29 in Stock

Upwork Inc. (NASDAQ:UPWK) CAO Olivier Marie sold 1,023 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $14.23, for a total value of $14,557.29. Following the completion of the sale, the chief accounting officer now owns 7,443 shares in the company, valued at $105,913.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, November 16th, Olivier Marie sold 3,105 shares of Upwork stock. The shares were sold at an average price of $14.09, for a total value of $43,749.45.
• On Wednesday, October 18th, Olivier Marie sold 216 shares of Upwork stock. The stock was sold at an average price of $11.22, for a total value of $2,423.52.
• On Monday, September 18th, Olivier Marie sold 962 shares of Upwork stock. The stock was sold at an average price of $12.73, for a total value of $12,246.26.
• On Thursday, August 31st, Olivier Marie sold 5,835 shares of Upwork stock. The stock was sold at an average price of $15.20, for a total value of $88,692.00.
• On Tuesday, August 29th, Olivier Marie sold 9,530 shares of Upwork stock. The stock was sold at an average price of $14.34, for a total value of $136,660.20.
• On Friday, August 18th, Olivier Marie sold 1,488 shares of Upwork stock. The stock was sold at an average price of $13.86, for a total value of $20,623.68.

Upwork Price Performance

Shares of UPWK opened at $14.32 on Friday. Upwork Inc. has a twelve month low of $6.56 and a twelve month high of $15.88. The stock’s 50 day moving average is $11.87 and its two-hundred day moving average is $11.05. The firm has a market capitalization of $1.95 billion, a PE ratio of -75.37 and a beta of 1.53. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 1.04.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Needham & Company LLC lifted their target price on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Piper Sandler raised their price target on Upwork from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. UBS Group began coverage on Upwork in a report on Wednesday, October 4th. They set a “neutral” rating and a $13.00 price target on the stock. Citigroup raised their price target on Upwork from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, August 7th. Finally, JMP Securities raised their price target on Upwork from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.10.

Institutional Investors Weigh In On Upwork

A number of institutional investors have recently added to or reduced their stakes in the business. Financial Gravity Asset Management Inc. boosted its holdings in Upwork by 2,216.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 3,893,556 shares of the company’s stock valued at $44,231,000 after purchasing an additional 3,725,442 shares in the last quarter. Tudor Investment Corp Et Al boosted its stake in shares of Upwork by 312.0% during the 3rd quarter. Tudor Investment Corp Et Al now owns 330,221 shares of the company’s stock worth $3,751,000 after acquiring an additional 250,061 shares in the last quarter. Morgan Stanley boosted its stake in shares of Upwork by 86.3% during the 3rd quarter. Morgan Stanley now owns 1,625,127 shares of the company’s stock worth $18,461,000 after acquiring an additional 752,668 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Upwork during the 3rd quarter worth approximately $132,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Upwork by 27.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 64,978 shares of the company’s stock worth $738,000 after acquiring an additional 13,982 shares in the last quarter. Hedge funds and other institutional investors own 75.46% 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 sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.