Upwork (NASDAQ:UPWK) CEO Hayden Brown Sells 23,745 Shares of Stock

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 23,745 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $12.31, for a total transaction of $292,300.95. Following the completion of the sale, the chief executive officer directly owned 798,732 shares in the company, valued at $9,832,390.92. This trade represents a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hayden Brown also recently made the following trade(s):

• On Wednesday, February 18th, Hayden Brown sold 123,152 shares of Upwork stock. The stock was sold at an average price of $13.80, for a total transaction of $1,699,497.60.

Upwork Price Performance

NASDAQ UPWK opened at $11.27 on Friday. Upwork Inc. has a 1 year low of $11.09 and a 1 year high of $22.84. The company has a market capitalization of $1.47 billion, a PE ratio of 13.42 and a beta of 1.07. The company has a fifty day moving average of $15.88 and a 200 day moving average of $17.52.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on UPWK shares. Roth Mkm boosted their target price on shares of Upwork from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. The Goldman Sachs Group reissued a “buy” rating and set a $27.00 target price on shares of Upwork in a research note on Tuesday, February 10th. UBS Group cut their price target on Upwork from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Jefferies Financial Group increased 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, Wall Street Zen upgraded Upwork from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Upwork currently has an average rating of “Moderate Buy” and a consensus price target of $22.60.

Institutional Investors Weigh In On Upwork

A number of hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB boosted its position in Upwork by 2.2% during the fourth 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 raised its holdings in 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 acquiring an additional 920 shares during the last quarter. Raymond James Financial Inc. lifted 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. Farther Finance Advisors LLC lifted its stake in Upwork by 594.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,361 shares of the company’s stock worth $27,000 after purchasing an additional 1,165 shares in the last quarter. Finally, Clearstead Advisors LLC boosted its holdings in shares of Upwork by 998.4% during the 3rd quarter. Clearstead Advisors LLC now owns 1,406 shares of the company’s stock worth $26,000 after purchasing an additional 1,278 shares during the last quarter. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Key Upwork News

Here are the key news stories impacting Upwork this week:

• Negative Sentiment: CEO Hayden Brown sold 23,745 shares at an average of $12.31 (~$292K), a 2.9% reduction in her stake — a notable insider sale from the company’s top executive. CEO Hayden Brown SEC Filing
• Negative Sentiment: CFO Erica Gessert sold 9,278 shares at ~$12.31 (~$114K), reducing her position by ~2.9% — another senior officer sale. CFO Erica Gessert SEC Filing
• Negative Sentiment: CAO Sabrina Mekhalfa sold 1,482 shares at ~$12.31 (~$18K), cutting her stake by ~41%. CAO Sabrina Mekhalfa SEC Filing
• Negative Sentiment: Director/insider Dave Bottoms reported two recent sales (11,575 shares at $12.31 and 7,000 shares at $11.49), significantly reducing his holdings. Multiple insider dispositions amplify the perception of insider-led selling. Dave Bottoms SEC Filings
• Negative Sentiment: Media and analyst coverage is bearish: headlines report shares “plummet” and note analysts are resetting valuations and expectations for Upwork, which can pressure sentiment and trigger further selling. Reddit and Upwork Shares Plummet, What You Need To Know
• Negative Sentiment: Analysis piece discusses a shifting Upwork story as analysts cut forecasts and valuations — a catalyst for downgrades and lower price targets. Why The Upwork (UPWK) Story Is Shifting

About Upwork

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.