Hillsdale Investment Management Inc. Acquires 55,900 Shares of Upwork Inc. $UPWK

Hillsdale Investment Management Inc. boosted its holdings in Upwork Inc. (NASDAQ:UPWK) by 12.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 505,300 shares of the company’s stock after purchasing an additional 55,900 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Upwork were worth $9,383,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada grew its position in Upwork by 68.9% during the first quarter. Royal Bank of Canada now owns 191,587 shares of the company’s stock worth $2,501,000 after buying an additional 78,123 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Upwork by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,466 shares of the company’s stock valued at $972,000 after purchasing an additional 3,599 shares in the last quarter. Millennium Management LLC lifted its position in Upwork by 364.0% during the first quarter. Millennium Management LLC now owns 789,638 shares of the company’s stock worth $10,305,000 after purchasing an additional 619,459 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Upwork by 10.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 338,680 shares of the company’s stock worth $4,420,000 after purchasing an additional 31,378 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Upwork during the second quarter worth about $211,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Upwork Stock Performance

NASDAQ UPWK opened at $13.17 on Friday. The firm’s fifty day moving average price is $19.03 and its two-hundred day moving average price is $17.72. The stock has a market cap of $1.72 billion, a PE ratio of 15.68 and a beta of 1.06. Upwork Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $22.84.

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

Insider Buying and Selling

In other Upwork news, insider Dave Bottoms sold 15,649 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $13.51, for a total value of $211,417.99. Following the completion of the transaction, the insider owned 345 shares of the company’s stock, valued at $4,660.95. This represents a 97.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hayden Brown sold 123,152 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $13.80, for a total value of $1,699,497.60. Following the completion of the transaction, the chief executive officer owned 776,067 shares of the company’s stock, valued at $10,709,724.60. This represents a 13.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 585,204 shares of company stock worth $10,429,236 in the last 90 days. Insiders own 7.50% of the company’s stock.

Key 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

Analysts Set New Price Targets

Several equities analysts have recently commented on UPWK shares. The Goldman Sachs Group restated a “buy” rating and issued a $27.00 target price on shares of Upwork in a research report on Tuesday, February 10th. Wall Street Zen raised shares of Upwork from a “hold” rating to a “buy” rating in a research note on Saturday. Canaccord Genuity Group set a $22.00 target price on Upwork in a research note on Tuesday, February 10th. Royal Bank Of Canada reduced their target price on Upwork from $24.00 to $20.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 10th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Upwork in a report on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.60.

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.