Erica Gessert Sells 26,292 Shares of Upwork (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 26,292 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $13.80, for a total value of $362,829.60. Following the completion of the transaction, the chief financial officer owned 298,386 shares of the company’s stock, valued at approximately $4,117,726.80. This trade represents a 8.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Erica Gessert also recently made the following trade(s):

• On Thursday, December 18th, Erica Gessert sold 9,044 shares of Upwork stock. The shares were sold at an average price of $20.59, for a total transaction of $186,215.96.

Upwork Price Performance

NASDAQ:UPWK opened at $13.17 on Friday. The firm’s 50-day moving average price is $19.03 and its 200-day moving average price is $17.72. The company has a market capitalization of $1.72 billion, a PE ratio of 15.68 and a beta of 1.06. Upwork Inc. has a 1-year low of $11.13 and a 1-year high of $22.84.

Upwork announced that its board has approved a stock 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 buy up to 18% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

UPWK has been the topic of a number of analyst reports. Roth Mkm boosted their price target on Upwork from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. The Goldman Sachs Group reissued a “buy” rating and issued a $27.00 target price on shares of Upwork in a report on Tuesday, February 10th. Zacks Research downgraded Upwork from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Jefferies Financial Group lifted their price target on Upwork from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Finally, Scotiabank cut their price objective on shares of Upwork from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 10th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.60.

Institutional Investors Weigh In On Upwork

Several institutional investors have recently modified their holdings of the business. Financial Gravity Companies Inc. purchased a new position in shares of Upwork during the second quarter valued at approximately $5,118,000. Ruffer LLP purchased a new stake in Upwork in the third quarter worth approximately $2,716,000. Aviance Capital Partners LLC bought a new stake in Upwork in the 2nd quarter worth approximately $619,000. Campbell & CO Investment Adviser LLC raised its stake in Upwork by 80.6% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 251,263 shares of the company’s stock valued at $3,377,000 after buying an additional 112,133 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Upwork by 61.6% during the 2nd quarter. Boston Partners now owns 262,219 shares of the company’s stock valued at $3,524,000 after buying an additional 99,941 shares during the period. 77.71% of the stock is owned by hedge funds and other institutional investors.

More 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

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.