Upwork (NASDAQ:UPWK) Insider Sells $211,417.99 in Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 15,649 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $13.51, for a total transaction of $211,417.99. Following the completion of the sale, the insider owned 345 shares in the company, valued at $4,660.95. The trade was a 97.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• 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.
• On Friday, December 19th, Dave Bottoms sold 9,622 shares of Upwork stock. The stock was sold at an average price of $20.66, for a total value of $198,790.52.
• On Thursday, December 18th, Dave Bottoms sold 11,285 shares of Upwork stock. The shares were sold at an average price of $20.59, for a total value of $232,358.15.

Upwork Stock Performance

Shares of UPWK stock opened at $13.17 on Friday. Upwork Inc. has a 1 year low of $11.13 and a 1 year high of $22.84. The firm has a market capitalization of $1.72 billion, a PE ratio of 15.68 and a beta of 1.06. The stock has a fifty day moving average of $19.03 and a two-hundred day moving average of $17.76.

Upwork announced that its board has authorized a stock repurchase program on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 18% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Key Upwork News

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Board authorizes a flexible $300 million buyback (authorizes repurchases of roughly 18% of shares), a meaningful capital‑return action that can reduce float and support EPS and investor sentiment. Globe and Mail: Buyback Announcement
• Positive Sentiment: Market reaction was initially positive — coverage notes shares rose on the buyback news, showing short‑term demand lift from the announcement. Investing.com: Market Reaction
• Neutral Sentiment: Analyst / institutional context is mixed: consensus is a modest “moderate buy” with an average target (~$22.60) well above the current price, and institutions own ~78% of the stock — the buyback may prompt revisions but not unanimous upgrades. MarketBeat: Analyst & Ownership Context
• Negative Sentiment: Significant insider selling this week: CEO Hayden Brown sold 123,152 shares (~$1.7M at ~$13.80); CFO Erica Gessert and other insiders (Dave Bottoms) also reduced positions — large insider disposals can be interpreted negatively by investors. SEC filings for the CEO sale are here and the InsiderTrades writeup for other insider sales is here. CEO SEC Filing InsiderTrades: Insider Sales
• Negative Sentiment: Technicals/liquidity are unfavorable near term: shares remain well below the 50‑day moving average and today’s volume is light versus average, increasing downside volatility risk despite the buyback. MarketBeat: Technicals

Institutional Investors Weigh In On Upwork

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB grew its holdings in shares of Upwork by 2.2% in the 4th quarter. Handelsbanken Fonder AB now owns 32,200 shares of the company’s stock worth $638,000 after acquiring an additional 700 shares during the last quarter. Straightline Group LLC boosted its position in shares of Upwork by 2.4% in the 4th quarter. Straightline Group LLC now owns 39,222 shares of the company’s stock valued at $777,000 after purchasing an additional 920 shares during the period. Raymond James Financial Inc. increased its stake in Upwork by 4.0% in the 3rd quarter. Raymond James Financial Inc. now owns 24,004 shares of the company’s stock worth $446,000 after purchasing an additional 928 shares in the last quarter. King Luther Capital Management Corp increased its stake in Upwork by 0.4% in the 2nd quarter. King Luther Capital Management Corp now owns 264,789 shares of the company’s stock worth $3,559,000 after purchasing an additional 987 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Upwork by 594.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,361 shares of the company’s stock worth $27,000 after buying an additional 1,165 shares during the period. Institutional investors and hedge funds own 77.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group set a $22.00 price objective on shares of Upwork in a report on Tuesday, February 10th. UBS Group cut their target price on Upwork from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Upwork in a research note on Wednesday, January 21st. Roth Mkm boosted their price objective on Upwork from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $25.00 price objective on shares of Upwork in a report on Tuesday, February 10th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.60.

Upwork Company 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.