Upwork Inc. $UPWK Shares Purchased by Fox Run Management L.L.C.

Fox Run Management L.L.C. increased its holdings in shares of Upwork Inc. (NASDAQ:UPWK) by 101.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,698 shares of the company’s stock after buying an additional 46,622 shares during the quarter. Fox Run Management L.L.C. owned about 0.07% of Upwork worth $1,721,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. King Luther Capital Management Corp increased its stake in shares of Upwork by 0.4% during the 2nd quarter. King Luther Capital Management Corp now owns 264,789 shares of the company’s stock valued at $3,559,000 after acquiring an additional 987 shares during the last quarter. Straightline Group LLC grew its holdings in Upwork by 3.1% in the third quarter. Straightline Group LLC now owns 38,302 shares of the company’s stock valued at $711,000 after purchasing an additional 1,159 shares during the period. Clearstead Advisors LLC grew its holdings in Upwork by 998.4% in the third quarter. Clearstead Advisors LLC now owns 1,406 shares of the company’s stock valued at $26,000 after purchasing an additional 1,278 shares during the period. SBI Securities Co. Ltd. increased its position in Upwork by 35.0% during the third quarter. SBI Securities Co. Ltd. now owns 5,416 shares of the company’s stock worth $101,000 after purchasing an additional 1,403 shares during the last quarter. Finally, Ethic Inc. raised its stake in Upwork by 11.1% during the second quarter. Ethic Inc. now owns 14,393 shares of the company’s stock worth $196,000 after purchasing an additional 1,443 shares during the period. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Wall Street Analysts Forecast Growth

UPWK has been the subject of several research reports. BTIG Research reissued a “neutral” rating on shares of Upwork in a research note on Wednesday, November 19th. The Goldman Sachs Group reiterated a “buy” rating and issued a $27.00 target price on shares of Upwork in a report on Tuesday, February 10th. Zacks Research downgraded Upwork from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Canaccord Genuity Group set a $22.00 price objective on Upwork in a report on Tuesday, February 10th. Finally, Wall Street Zen raised Upwork from a “hold” rating to a “buy” rating in a research note on Saturday. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.60.

Insider Buying and Selling

In other Upwork news, CFO Erica Gessert sold 26,292 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $13.80, for a total value of $362,829.60. Following the transaction, the chief financial officer owned 298,386 shares in the company, valued at $4,117,726.80. The trade was a 8.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dave Bottoms sold 17,013 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $13.80, for a total transaction of $234,779.40. Following the completion of the transaction, the insider directly owned 15,994 shares of the company’s stock, valued at approximately $220,717.20. The trade was a 51.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 235,204 shares of company stock valued at $3,602,486. Corporate insiders own 7.60% of the company’s stock.

Upwork Price Performance

NASDAQ:UPWK opened at $13.02 on Wednesday. The business’s 50-day moving average is $18.68 and its two-hundred day moving average is $17.79. The firm has a market capitalization of $1.70 billion, a PE ratio of 15.50 and a beta of 1.06. Upwork Inc. has a 12 month low of $11.13 and a 12 month high of $22.84.

Upwork declared that its board has approved a stock buyback program on Wednesday, February 18th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 18% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Upwork 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.