Insider Selling: Upwork (NASDAQ:UPWK) Insider Sells $142,488.25 in Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 11,575 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $12.31, for a total value of $142,488.25. Following the completion of the sale, the insider owned 9,678 shares in the company, valued at approximately $119,136.18. This represents a 54.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dave Bottoms also recently made the following trade(s):

• On Thursday, March 19th, Dave Bottoms sold 7,000 shares of Upwork stock. The shares were sold at an average price of $11.49, for a total value of $80,430.00.
• On Thursday, February 19th, Dave Bottoms sold 15,649 shares of Upwork stock. The stock was sold at an average price of $13.51, for a total value of $211,417.99.
• On Wednesday, February 18th, Dave Bottoms sold 17,013 shares of Upwork stock. The stock was sold at an average price of $13.80, for a total value of $234,779.40.

Upwork Stock Performance

Shares of UPWK opened at $11.27 on Monday. Upwork Inc. has a one year low of $11.09 and a one year high of $22.84. The stock’s fifty day moving average is $15.88 and its 200-day moving average is $17.54. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 13.42 and a beta of 1.08.

Upwork declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 18% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have commented on UPWK shares. Wall Street Zen upgraded shares of Upwork from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. The Goldman Sachs Group reiterated a “buy” rating and issued a $27.00 price objective on shares of Upwork in a report on Tuesday, February 10th. UBS Group dropped their target price on Upwork from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Upwork in a research report on Wednesday, January 21st. Finally, Canaccord Genuity Group set a $22.00 price target on Upwork in a research note on Tuesday, February 10th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.60.

Key Upwork News

Here are the key news stories impacting Upwork this week:

• Negative Sentiment: CEO Hayden Brown sold 23,745 shares at an average of $12.31 (~$292K), a 2.9% reduction in her stake — a notable insider sale from the company’s top executive. CEO Hayden Brown SEC Filing
• Negative Sentiment: CFO Erica Gessert sold 9,278 shares at ~$12.31 (~$114K), reducing her position by ~2.9% — another senior officer sale. CFO Erica Gessert SEC Filing
• Negative Sentiment: CAO Sabrina Mekhalfa sold 1,482 shares at ~$12.31 (~$18K), cutting her stake by ~41%. CAO Sabrina Mekhalfa SEC Filing
• Negative Sentiment: Director/insider Dave Bottoms reported two recent sales (11,575 shares at $12.31 and 7,000 shares at $11.49), significantly reducing his holdings. Multiple insider dispositions amplify the perception of insider-led selling. Dave Bottoms SEC Filings
• Negative Sentiment: Media and analyst coverage is bearish: headlines report shares “plummet” and note analysts are resetting valuations and expectations for Upwork, which can pressure sentiment and trigger further selling. Reddit and Upwork Shares Plummet, What You Need To Know
• Negative Sentiment: Analysis piece discusses a shifting Upwork story as analysts cut forecasts and valuations — a catalyst for downgrades and lower price targets. Why The Upwork (UPWK) Story Is Shifting

Hedge Funds Weigh In On Upwork

Several large investors have recently made changes to their positions in UPWK. Ruffer LLP bought a new stake in Upwork during the third quarter worth approximately $2,716,000. Picton Mahoney Asset Management bought a new position in shares of Upwork in the third quarter valued at $1,648,000. Ancient Art L.P. increased its holdings in shares of Upwork by 13.1% in the third quarter. Ancient Art L.P. now owns 4,268,667 shares of the company’s stock valued at $79,269,000 after buying an additional 494,759 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of Upwork during the 3rd quarter valued at $24,782,000. Finally, Allianz Asset Management GmbH boosted its stake in shares of Upwork by 93.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,862,153 shares of the company’s stock worth $34,580,000 after acquiring an additional 900,525 shares in the last quarter. Institutional investors own 77.71% of the company’s stock.

Upwork Company Profile

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.