Insider Selling: Upwork (NASDAQ:UPWK) CAO Sells $18,243.42 in Stock

Upwork Inc. (NASDAQ:UPWK) CAO Sabrina Mekhalfa sold 1,482 shares of the business’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 $18,243.42. Following the completion of the sale, the chief accounting officer owned 2,095 shares of the company’s stock, valued at $25,789.45. The trade was a 41.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Upwork Stock Down 0.7%

Shares of NASDAQ:UPWK opened at $11.27 on Monday. The business’s 50 day moving average is $15.88 and its 200 day moving average is $17.54. The stock has a market cap of $1.47 billion, a P/E ratio of 13.42 and a beta of 1.08. Upwork Inc. has a 52-week low of $11.09 and a 52-week high of $22.84.

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

Institutional Trading of Upwork

A number of institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its stake in Upwork by 44.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,231,377 shares of the company’s stock worth $381,166,000 after buying an additional 5,893,970 shares during the last quarter. Boston Partners raised its stake in Upwork by 785.7% in the third quarter. Boston Partners now owns 2,322,575 shares of the company’s stock valued at $42,962,000 after buying an additional 2,060,356 shares during the last quarter. Summit Partners Public Asset Management LLC acquired a new stake in Upwork in the fourth quarter worth about $40,136,000. Invenomic Capital Management LP acquired a new stake in Upwork in the third quarter worth about $24,782,000. Finally, Allianz Asset Management GmbH grew its stake in shares of Upwork by 93.6% during the third 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 during the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on UPWK. Canaccord Genuity Group set a $22.00 target price on shares of Upwork in a research report on Tuesday, February 10th. UBS Group lowered their price target on shares of Upwork from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Citigroup dropped their price objective on shares of Upwork from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. Needham & Company LLC reissued a “buy” rating and set a $25.00 price objective on shares of Upwork in a report on Tuesday, February 10th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Upwork in a research note on Wednesday, January 21st. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.60.

Trending Headlines about 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

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.