245,379 Shares in Upwork Inc. $UPWK Bought by Empowered Funds LLC

Empowered Funds LLC bought a new stake in Upwork Inc. (NASDAQ:UPWK) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 245,379 shares of the company’s stock, valued at approximately $2,051,000.

A number of other institutional investors have also recently added to or reduced their stakes in UPWK. Farther Finance Advisors LLC increased its stake in 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 acquiring an additional 1,165 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Upwork by 434.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,881 shares of the company’s stock valued at $37,000 after purchasing an additional 1,529 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Upwork by 43.7% during the 2nd quarter. GAMMA Investing LLC now owns 4,575 shares of the company’s stock worth $38,000 after purchasing an additional 1,392 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Upwork during the 4th quarter worth about $42,000. Finally, EverSource Wealth Advisors LLC increased its position in Upwork by 19,361.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,503 shares of the company’s stock worth $47,000 after purchasing an additional 3,485 shares in the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Upwork Stock Performance

Upwork stock opened at $9.19 on Friday. The stock’s 50 day moving average price is $8.98 and its 200 day moving average price is $9.96. The firm has a market capitalization of $1.15 billion, a PE ratio of 11.94 and a beta of 1.01. Upwork Inc. has a one year low of $7.44 and a one year high of $22.84.

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

Analyst Ratings Changes

Several research firms recently commented on UPWK. Citizens Jmp lowered shares of Upwork from an “outperform” rating to a “market perform” rating in a report on Friday, May 8th. Citigroup decreased their price objective 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. Needham & Company LLC dropped their price objective on shares of Upwork from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Royal Bank Of Canada cut their target price on shares of Upwork from $9.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 11th. Finally, The Goldman Sachs Group set a $11.50 target price on shares of Upwork in a report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.05.

Insider Buying and Selling at Upwork

In other Upwork news, CEO Hayden Brown sold 73,241 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $8.43, for a total value of $617,421.63. Following the completion of the transaction, the chief executive officer directly owned 771,076 shares of the company’s stock, valued at $6,500,170.68. This represents a 8.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 dated 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 transaction, the chief financial officer owned 364,789 shares in the company, valued at approximately $3,075,171.27. This trade represents a 5.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 132,520 shares of company stock valued at $1,108,000 over the last 90 days. Insiders own 4.90% 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.