Upwork (NASDAQ:UPWK) Insider Dave Bottoms Sells 15,649 Shares

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 15,649 shares of the company’s stock in a transaction dated 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 approximately $4,660.95. This trade represents a 97.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 shares were 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 Up 0.5%

NASDAQ:UPWK traded up $0.07 during trading hours on Friday, reaching $13.39. 950,317 shares of the stock were exchanged, compared to its average volume of 3,775,252. The stock has a market capitalization of $1.75 billion, a P/E ratio of 15.96 and a beta of 1.06. The firm has a 50 day simple moving average of $19.21 and a 200-day simple moving average of $17.71. Upwork Inc. has a 52 week low of $11.13 and a 52 week high of $22.84.

Upwork declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 18th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 18% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Accredited Wealth Management LLC grew its position in Upwork by 5,280.0% in the 3rd quarter. Accredited Wealth Management LLC now owns 1,345 shares of the company’s stock worth $25,000 after purchasing an additional 1,320 shares during the last quarter. Clearstead Advisors LLC raised its holdings in shares of Upwork by 998.4% during the third quarter. Clearstead Advisors LLC now owns 1,406 shares of the company’s stock valued at $26,000 after buying an additional 1,278 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Upwork by 594.4% during the fourth 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. Elevation Point Wealth Partners LLC acquired a new position in shares of Upwork during the second quarter worth approximately $30,000. Finally, Fifth Third Bancorp grew its holdings in Upwork by 2,405.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,754 shares of the company’s stock worth $33,000 after buying an additional 1,684 shares in the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Upwork

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Board authorizes a flexible $300 million share repurchase (authorizes buybacks of up to ~18% of outstanding stock), a material capital-return program that can reduce float and boost EPS over time. Article Title
• Positive Sentiment: Market reaction: coverage notes shares rose on the buyback news (investor sentiment is lifting near-term demand). Article Title
• Neutral Sentiment: Analyst and institutional context is mixed — consensus remains a modestly positive “moderate buy” with a long-run average target above current levels, and institutions hold ~78% of shares; analysts’ ratings/targets vary so the buyback may prompt revisions but not unanimous upgrades.
• Negative Sentiment: Significant insider selling this week: CEO Hayden Brown sold 123,152 shares (~$1.7M at ~$13.80), CFO and other insiders also sold portions of their positions—these large disposals can be read as a cautionary signal by some investors. SEC filings for the CEO sale are available here: SEC Filing
• Negative Sentiment: Technicals and liquidity: shares remain well below the 50-day moving average and volume today is thin versus average, which raises the risk of volatile moves despite the buyback announcement.

Analyst Ratings Changes

UPWK has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Upwork in a report on Wednesday, January 21st. Canaccord Genuity Group set a $22.00 price objective on shares of Upwork in a research report on Tuesday, February 10th. BTIG Research reiterated a “neutral” rating on shares of Upwork in a research note on Wednesday, November 19th. The Goldman Sachs Group restated a “buy” rating and issued a $27.00 target price on shares of Upwork in a research note on Tuesday, February 10th. Finally, Royal Bank Of Canada dropped their price target on Upwork from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 10th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.