Allianz Asset Management GmbH Increases Stock Position in Upwork Inc. $UPWK

Allianz Asset Management GmbH increased its position in shares of Upwork Inc. (NASDAQ:UPWK) by 93.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,862,153 shares of the company’s stock after buying an additional 900,525 shares during the period. Allianz Asset Management GmbH owned about 1.40% of Upwork worth $34,580,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. bought a new position in Upwork during the 2nd quarter valued at $5,118,000. Ruffer LLP acquired a new stake in shares of Upwork in the 3rd quarter valued at about $2,716,000. Aviance Capital Partners LLC acquired a new stake in shares of Upwork in the 2nd quarter valued at about $619,000. Campbell & CO Investment Adviser LLC lifted its position in shares of Upwork by 80.6% during the second quarter. Campbell & CO Investment Adviser LLC now owns 251,263 shares of the company’s stock worth $3,377,000 after purchasing an additional 112,133 shares during the last quarter. Finally, Grandeur Peak Global Advisors LLC grew its stake in Upwork by 27.1% in the second quarter. Grandeur Peak Global Advisors LLC now owns 463,926 shares of the company’s stock worth $6,235,000 after purchasing an additional 98,811 shares in the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Insider Activity

In other news, CFO Erica Gessert sold 9,044 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $20.59, for a total transaction of $186,215.96. Following the completion of the transaction, the chief financial officer directly owned 246,701 shares in the company, valued at approximately $5,079,573.59. The trade was a 3.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Dave Bottoms sold 9,622 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $20.66, for a total value of $198,790.52. Following the completion of the transaction, the insider directly owned 345 shares of the company’s stock, valued at $7,127.70. This trade represents a 96.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 523,248 shares of company stock worth $10,029,741 over the last ninety days. 7.50% of the stock is owned by company insiders.

Key Stories Impacting Upwork

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Upwork’s official “In‑Demand Skills 2026” report shows demand for top AI skills more than doubled, reinforcing Upwork’s role as a marketplace benefiting from AI-driven freelance demand. Upwork’s In-Demand Skills 2026: Demand for Top AI Skills More Than Doubles as AI Is Embedded Into Everyday Work
• Positive Sentiment: Coverage on Yahoo highlights the same skills report and frames Upwork’s marketplace as potentially undervalued given accelerating AI-related job openings and freelancer demand. Upwork Skills Report Highlights AI Demand And Undervalued Marketplace Potential
• Positive Sentiment: MarketBeat/analyst consensus: 14 analysts average a “Moderate Buy” on UPWK (9 buys, 5 holds), giving the stock some support from the sell‑side on near‑term upside expectations. Upwork Inc. (NASDAQ:UPWK) Receives Consensus Rating of “Moderate Buy” from Brokerages
• Neutral Sentiment: Kalkine Media examines Upwork’s positioning within the Nasdaq Composite and the company’s role in enabling remote talent access — useful context for investors assessing secular growth but no new financials. Is Upwork (NASDAQ:UPWK) within Nasdaq Composite Driving Talent Access
• Neutral Sentiment: The Globe and Mail ran a market piece on Upwork’s In‑Demand Skills 2026 findings, amplifying awareness but repeating the same AI-demand message rather than adding new data. Upwork’s In-Demand Skills 2026: Demand for Top AI Skills More Than Doubles as AI Is Embedded Into Everyday Work
• Negative Sentiment: MSN reports that Upwork (and peers) saw share weakness, highlighting short‑term selling pressure and volatility despite the upbeat skills report. Upwork and eBay shares are falling, what you need to know
• Negative Sentiment: Zacks downgraded Upwork from “strong‑buy” to “hold,” which could dampen momentum among some institutional or retail investors. Zacks.com / Tickerreport

Upwork Stock Performance

Shares of UPWK opened at $17.82 on Friday. The firm has a fifty day moving average of $20.33 and a 200-day moving average of $17.59. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 10.18 and a beta of 1.06. Upwork Inc. has a 1 year low of $11.13 and a 1 year high of $22.84.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The firm had revenue of $201.73 million during the quarter, compared to analyst estimates of $193.33 million. Upwork had a return on equity of 41.05% and a net margin of 31.63%.The firm’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS. Analysts predict that Upwork Inc. will post 0.84 EPS for the current year.

Analyst Ratings Changes

UPWK has been the topic of several research reports. Zacks Research cut Upwork from a “strong-buy” rating to a “hold” rating in a research note on Monday. Royal Bank Of Canada upped their price target on Upwork from $18.00 to $21.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 4th. Roth Mkm restated a “buy” rating and set a $22.00 price objective (up from $19.00) on shares of Upwork in a research note on Wednesday, November 5th. Scotiabank boosted their target price on shares of Upwork from $15.00 to $17.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 4th. Finally, The Goldman Sachs Group raised their price target on shares of Upwork from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.91.

About Upwork

Upwork Inc operates a leading online talent marketplace that connects businesses with independent professionals worldwide. Through its digital platform, the company enables clients across industries—including technology, marketing, creative services and customer support—to source, hire and manage freelance talent on demand. Key features of the Upwork platform include streamlined job posting, proposal evaluation, time-tracking tools, invoicing and secure payment processing, all designed to simplify collaboration between clients and remote workers.

The company traces its roots to the merger of two pioneering freelance marketplaces, Elance (founded in 1998) and oDesk (founded in 2003), which combined in 2015 to form a unified entity.