Teachers Retirement System of The State of Kentucky Has $2.39 Million Holdings in Upwork Inc. $UPWK

Teachers Retirement System of The State of Kentucky lifted its holdings in Upwork Inc. (NASDAQ:UPWK) by 154.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,710 shares of the company’s stock after acquiring an additional 73,311 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.09% of Upwork worth $2,392,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Upwork by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 14,989,217 shares of the company’s stock valued at $297,086,000 after acquiring an additional 322,455 shares in the last quarter. Ancient Art L.P. grew its stake in shares of Upwork by 13.1% in the third quarter. Ancient Art L.P. now owns 4,268,667 shares of the company’s stock valued at $79,269,000 after acquiring an additional 494,759 shares in the last quarter. Invesco Ltd. grew its stake in shares of Upwork by 5.2% in the third quarter. Invesco Ltd. now owns 3,009,334 shares of the company’s stock valued at $55,883,000 after acquiring an additional 147,852 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Upwork by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,828,735 shares of the company’s stock valued at $52,534,000 after acquiring an additional 71,130 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Upwork by 785.7% in the third quarter. Boston Partners now owns 2,322,575 shares of the company’s stock valued at $42,962,000 after acquiring an additional 2,060,356 shares in the last quarter. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on UPWK shares. Roth Mkm increased their price objective on shares of Upwork from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Zacks Research downgraded shares of Upwork from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of Upwork in a research note on Tuesday, February 10th. Scotiabank reduced 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 note on Tuesday, February 10th. Finally, UBS Group reduced their price objective on shares of Upwork from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.60.

Upwork Stock Down 2.5%

Shares of Upwork stock opened at $10.38 on Wednesday. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 12.36 and a beta of 1.18. Upwork Inc. has a 12-month low of $10.22 and a 12-month high of $22.84. The firm’s 50-day moving average price is $11.80 and its two-hundred day moving average price is $16.25.

Upwork declared that its board has approved a share 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 management believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Dave Bottoms sold 7,000 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $11.49, for a total value of $80,430.00. Following the completion of the transaction, the insider owned 2,678 shares of the company’s stock, valued at approximately $30,770.22. This represents a 72.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hayden Brown sold 23,745 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $12.31, for a total transaction of $292,300.95. Following the completion of the transaction, the chief executive officer directly owned 798,732 shares of the company’s stock, valued at $9,832,390.92. This trade represents a 2.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 235,186 shares of company stock worth $3,156,199 over the last ninety days. Corporate insiders own 7.60% of the company’s stock.

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.