Insider Selling: Upwork (NASDAQ:UPWK) Insider Sells $80,430.00 in Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 7,000 shares of Upwork stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $11.49, for a total value of $80,430.00. Following the sale, the insider directly owned 2,678 shares of the company’s stock, valued at approximately $30,770.22. The trade was a 72.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, March 18th, Dave Bottoms sold 11,575 shares of Upwork stock. The shares were sold at an average price of $12.31, for a total value of $142,488.25.
• 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

UPWK opened at $11.27 on Monday. The stock has a fifty day moving average of $15.88 and a 200-day moving average of $17.54. The company has a market capitalization of $1.47 billion, a P/E ratio of 13.42 and a beta of 1.08. Upwork Inc. has a fifty-two week low of $11.09 and a fifty-two week high of $22.84.

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

Analyst Ratings Changes

A number of research firms have issued reports on UPWK. Royal Bank Of Canada cut their price objective on shares of Upwork from $24.00 to $20.00 and set a “sector perform” rating for the company in a report on Tuesday, February 10th. Citigroup dropped their price target on shares of Upwork from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, February 10th. The Goldman Sachs Group reiterated a “buy” rating and issued a $27.00 price target on shares of Upwork in a research note on Tuesday, February 10th. Needham & Company LLC reissued a “buy” rating and set a $25.00 price target on shares of Upwork in a research report on Tuesday, February 10th. Finally, Canaccord Genuity Group set a $22.00 price objective on Upwork in a research note on Tuesday, February 10th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.60.

Key Headlines Impacting Upwork

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

Institutional Trading of Upwork

Several institutional investors and hedge funds have recently modified their holdings of UPWK. Rockefeller Capital Management L.P. grew its position in Upwork by 434.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,881 shares of the company’s stock valued at $37,000 after acquiring an additional 1,529 shares during the last quarter. Corient Private Wealth LLC raised its stake in Upwork by 26.0% during the fourth quarter. Corient Private Wealth LLC now owns 58,283 shares of the company’s stock worth $1,155,000 after acquiring an additional 12,039 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new position in shares of Upwork in the fourth quarter worth about $66,000. Invesco Ltd. boosted its stake in shares of Upwork by 19.2% in the 4th quarter. Invesco Ltd. now owns 3,585,846 shares of the company’s stock valued at $71,071,000 after purchasing an additional 576,512 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Upwork by 16.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 36,755 shares of the company’s stock valued at $728,000 after purchasing an additional 5,205 shares in the last quarter. 77.71% of the stock is currently owned by institutional investors.

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.