629,184 Shares in Upwork Inc. $UPWK Purchased by Man Group plc

Man Group plc purchased a new stake in shares of Upwork Inc. (NASDAQ:UPWK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 629,184 shares of the company’s stock, valued at approximately $5,260,000. Man Group plc owned 0.50% of Upwork at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of UPWK. Farther Finance Advisors LLC grew its position in shares of 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 buying an additional 1,165 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Upwork by 434.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,881 shares of the company’s stock valued at $37,000 after acquiring an additional 1,529 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Upwork by 43.7% during the second quarter. GAMMA Investing LLC now owns 4,575 shares of the company’s stock valued at $38,000 after acquiring an additional 1,392 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Upwork in the fourth quarter worth $42,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Upwork by 19,361.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,503 shares of the company’s stock worth $47,000 after acquiring an additional 3,485 shares during the period. Institutional investors own 77.71% of the company’s stock.

Insider Buying and Selling

In other news, CEO Hayden Brown sold 73,241 shares of Upwork stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.43, for a total transaction of $617,421.63. Following the completion of the transaction, the chief executive officer directly owned 771,076 shares in the company, valued at approximately $6,500,170.68. This trade represents a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Erica Gessert sold 22,844 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $8.43, for a total value of $192,574.92. Following the completion of the sale, the chief financial officer directly owned 364,789 shares in the company, valued at approximately $3,075,171.27. This represents a 5.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 132,520 shares of company stock valued at $1,108,000 in the last ninety days. Insiders own 4.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on UPWK shares. Citizens Jmp downgraded shares of Upwork from an “outperform” rating to a “market perform” rating in a research report on Friday, May 8th. Needham & Company LLC cut their target price on shares of Upwork from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Citigroup decreased their price target on shares of Upwork from $17.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, May 21st. Roth Capital lowered shares of Upwork from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a report on Friday, May 8th. Finally, Weiss Ratings cut Upwork from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Upwork presently has a consensus rating of “Hold” and an average target price of $13.05.

Upwork Stock Performance

Shares of UPWK stock opened at $9.02 on Monday. Upwork Inc. has a 12 month low of $7.44 and a 12 month high of $22.84. The stock has a market cap of $1.13 billion, a PE ratio of 11.71 and a beta of 0.99. The company’s fifty day moving average price is $8.89 and its 200-day moving average price is $10.10.

Upwork (NASDAQ:UPWK) last released its earnings results on Monday, August 10th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Upwork had a net margin of 12.94% and a return on equity of 16.70%. The firm had revenue of $191.66 million for the quarter. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. Upwork has set its FY 2026 guidance at 1.380-1.430 EPS and its Q3 2026 guidance at 0.310-0.330 EPS.

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.