Alternative Investment Advisors LLC. Takes $3.01 Million Position in Upwork Inc. $UPWK

Alternative Investment Advisors LLC. acquired a new stake in Upwork Inc. (NASDAQ:UPWK) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 161,997 shares of the company’s stock, valued at approximately $3,008,000. Upwork makes up 1.4% of Alternative Investment Advisors LLC.’s portfolio, making the stock its 10th largest holding. Alternative Investment Advisors LLC. owned 0.12% of Upwork at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UPWK. Accredited Wealth Management LLC raised its position in shares of Upwork by 5,280.0% in the third quarter. Accredited Wealth Management LLC now owns 1,345 shares of the company’s stock valued at $25,000 after purchasing an additional 1,320 shares during the period. Clearstead Advisors LLC lifted its stake in shares of Upwork by 998.4% in the third quarter. Clearstead Advisors LLC now owns 1,406 shares of the company’s stock worth $26,000 after buying an additional 1,278 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Upwork during the 2nd quarter worth $30,000. Fifth Third Bancorp boosted its holdings in shares of Upwork by 2,405.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,754 shares of the company’s stock worth $33,000 after buying an additional 1,684 shares during the period. Finally, EMC Capital Management acquired a new position in Upwork in the 2nd quarter valued at $45,000. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on UPWK. Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of Upwork in a research report on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Upwork in a research report on Wednesday, January 21st. BTIG Research reiterated a “neutral” rating on shares of Upwork in a research note on Wednesday, November 19th. Roth Mkm boosted their price objective on Upwork from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, Jefferies Financial Group increased their target price on Upwork from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, January 5th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Upwork has an average rating of “Moderate Buy” and an average target price of $22.60.

Upwork Trading Down 2.0%

UPWK opened at $12.10 on Thursday. The stock’s 50 day simple moving average is $16.24 and its 200-day simple moving average is $17.60. The stock has a market cap of $1.58 billion, a PE ratio of 14.40 and a beta of 1.07. Upwork Inc. has a 1 year low of $11.13 and a 1 year high of $22.84.

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

Insiders Place Their Bets

In other Upwork news, insider Dave Bottoms sold 15,649 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $13.51, for a total value of $211,417.99. Following the sale, the insider owned 345 shares of the company’s stock, valued at $4,660.95. The trade was a 97.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Hayden Brown sold 123,152 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $13.80, for a total transaction of $1,699,497.60. Following the completion of the transaction, the chief executive officer owned 776,067 shares of the company’s stock, valued at approximately $10,709,724.60. This represents a 13.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 191,728 shares of company stock worth $2,707,315 over the last 90 days. Corporate insiders own 7.50% of the company’s stock.

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.