Capital International Investors Buys 900,318 Shares of Upwork Inc. $UPWK

Capital International Investors grew its stake in shares of Upwork Inc. (NASDAQ:UPWK) by 37.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 3,288,860 shares of the company’s stock after acquiring an additional 900,318 shares during the quarter. Capital International Investors owned about 2.52% of Upwork worth $65,185,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. State of Wyoming raised its holdings in shares of Upwork by 12.5% during the 4th quarter. State of Wyoming now owns 146,941 shares of the company’s stock worth $2,912,000 after buying an additional 16,284 shares in the last quarter. Straightline Group LLC raised its holdings in shares of Upwork by 2.4% during the 4th quarter. Straightline Group LLC now owns 39,222 shares of the company’s stock worth $777,000 after buying an additional 920 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Upwork by 16.9% during the 4th quarter. Intech Investment Management LLC now owns 57,620 shares of the company’s stock worth $1,142,000 after buying an additional 8,330 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of Upwork by 0.5% during the 4th quarter. King Luther Capital Management Corp now owns 317,542 shares of the company’s stock worth $6,294,000 after buying an additional 1,465 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in shares of Upwork during the 4th quarter worth $73,000. 77.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

UPWK has been the subject of a number of research analyst reports. Citizens Jmp cut Upwork from an “outperform” rating to a “market perform” rating in a report on Friday, May 8th. Weiss Ratings cut Upwork from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Royal Bank Of Canada lowered their price target on Upwork from $20.00 to $9.00 and set a “sector perform” rating for the company in a report on Monday, May 11th. Needham & Company LLC lowered their price target on Upwork from $25.00 to $15.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $27.00 price target on shares of Upwork in a report on Tuesday, February 10th. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.50.

Upwork Stock Up 1.1%

Shares of UPWK stock opened at $8.86 on Tuesday. The firm has a market capitalization of $1.09 billion, a P/E ratio of 10.94 and a beta of 1.01. Upwork Inc. has a twelve month low of $7.44 and a twelve month high of $22.84. The stock’s fifty day simple moving average is $9.87 and its 200 day simple moving average is $14.78.

Upwork announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 18% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Dave Bottoms sold 7,000 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $11.49, for a total transaction of $80,430.00. Following the sale, the insider owned 2,678 shares in the company, valued at $30,770.22. The trade was a 72.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Hayden Brown sold 23,745 shares of the business’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $12.31, for a total value of $292,300.95. Following the sale, the chief executive officer owned 798,732 shares in the company, valued at $9,832,390.92. This represents a 2.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,080 shares of company stock worth $647,675 in the last 90 days. Insiders own 4.90% of the company’s stock.

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.