Stephane Kasriel Sells 280,000 Shares of Upwork Inc (UPWK) Stock

Upwork Inc (NASDAQ:UPWK) CEO Stephane Kasriel sold 280,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $16.35, for a total value of $4,578,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

UPWK opened at $16.23 on Thursday. The firm has a market capitalization of $1.77 billion and a P/E ratio of -42.71. Upwork Inc has a 1 year low of $15.61 and a 1 year high of $25.00. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.07.

Upwork (NASDAQ:UPWK) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $68.92 million during the quarter, compared to the consensus estimate of $69.15 million. On average, research analysts expect that Upwork Inc will post -0.16 EPS for the current fiscal year.

UPWK has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Upwork from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. BTIG Research initiated coverage on Upwork in a report on Thursday, April 11th. They set a “buy” rating and a $24.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $22.50.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. bought a new stake in Upwork in the 4th quarter valued at $34,000. Marshall Wace North America L.P. bought a new stake in Upwork in the 1st quarter valued at $38,000. Citigroup Inc. bought a new stake in Upwork in the 4th quarter valued at $60,000. Strs Ohio bought a new stake in Upwork in the 4th quarter valued at $61,000. Finally, Barclays PLC bought a new stake in Upwork in the 4th quarter valued at $93,000. Institutional investors and hedge funds own 35.48% of the company’s stock.

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Upwork Company Profile

Upwork Inc operates an online marketplace that enables businesses (clients) to find and work with various independent professionals and agencies (freelancers). The company's platform provides access to talent with approximately 5,000 skills across approximately 70 categories, including content marketing, customer service, data science and analytics, graphic design, mobile development, sales, and Web development.

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