Divisadero Street Capital Management LP Takes Position in Upwork Inc. $UPWK

Divisadero Street Capital Management LP acquired a new position in shares of Upwork Inc. (NASDAQ:UPWK) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 158,125 shares of the company’s stock, valued at approximately $2,125,000. Divisadero Street Capital Management LP owned about 0.12% of Upwork at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of UPWK. Elevation Point Wealth Partners LLC bought a new position in Upwork during the second quarter worth about $30,000. LRI Investments LLC raised its stake in Upwork by 415.9% in the second quarter. LRI Investments LLC now owns 2,528 shares of the company’s stock valued at $34,000 after buying an additional 2,038 shares during the period. EMC Capital Management acquired a new stake in shares of Upwork in the second quarter valued at approximately $45,000. EverSource Wealth Advisors LLC lifted its position in shares of Upwork by 19,361.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,503 shares of the company’s stock valued at $47,000 after buying an additional 3,485 shares during the last quarter. Finally, Alpine Global Management LLC bought a new position in shares of Upwork during the 1st quarter worth approximately $130,000. 77.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on UPWK. Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of Upwork in a research note on Wednesday, November 19th. Roth Capital reiterated a “buy” rating and issued a $22.00 price objective (up from $19.00) on shares of Upwork in a report on Wednesday, November 5th. Wall Street Zen upgraded shares of Upwork from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 target price on shares of Upwork in a report on Tuesday, November 4th. Finally, Scotiabank upped their price target on shares of Upwork from $15.00 to $17.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 4th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Upwork presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.92.

Insider Buying and Selling at Upwork

In other news, CEO Hayden Brown sold 275,000 shares of Upwork stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $19.43, for a total value of $5,343,250.00. Following the completion of the sale, the chief executive officer directly owned 697,894 shares in the company, valued at approximately $13,560,080.42. The trade was a 28.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary Steele sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $17.51, for a total value of $218,875.00. Following the completion of the sale, the director owned 85,129 shares of the company’s stock, valued at approximately $1,490,608.79. This trade represents a 12.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 582,132 shares of company stock valued at $11,080,002 over the last ninety days. Company insiders own 7.60% of the company’s stock.

Upwork Stock Performance

UPWK opened at $20.08 on Monday. The stock has a fifty day moving average of $17.56 and a 200-day moving average of $15.71. The company has a market capitalization of $2.62 billion, a P/E ratio of 11.47 and a beta of 1.02. Upwork Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $21.38.

Upwork (NASDAQ:UPWK) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Upwork had a return on equity of 41.05% and a net margin of 31.63%.The business had revenue of $201.73 million for the quarter, compared to the consensus estimate of $193.33 million. During the same period in the prior year, the business posted $0.30 earnings per share. Upwork’s revenue was up 4.1% compared to the same quarter last year. Upwork has set its FY 2025 guidance at 1.350-1.370 EPS and its Q4 2025 guidance at 0.310-0.330 EPS. On average, equities research analysts predict that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.

Upwork announced that its board has initiated a stock repurchase program on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Upwork Profile

Upwork Inc, together with its subsidiaries, operates a work marketplace that connects businesses with various independent professionals and agencies in the United States, India, the Philippines, and internationally. The company’s work marketplace provides access to talent with various skills across a range of categories, including administrative support, sales and marketing, design and creative, and customer service, as well as web, mobile, and software development.