Upwork Inc. $UPWK Shares Sold by SkyView Investment Advisors LLC

SkyView Investment Advisors LLC decreased its holdings in shares of Upwork Inc. (NASDAQ:UPWK) by 79.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,000 shares of the company’s stock after selling 308,205 shares during the period. SkyView Investment Advisors LLC owned approximately 0.06% of Upwork worth $677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in UPWK. Rockefeller Capital Management L.P. raised its holdings 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 worth $37,000 after purchasing an additional 1,529 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Upwork in the fourth quarter worth approximately $42,000. Cary Street Partners Investment Advisory LLC acquired a new position in Upwork in the fourth quarter worth approximately $73,000. GAMMA Investing LLC increased its holdings in shares of Upwork by 43.7% in the second quarter. GAMMA Investing LLC now owns 4,575 shares of the company’s stock valued at $38,000 after buying an additional 1,392 shares in the last quarter. Finally, Clearstead Advisors LLC increased its holdings in shares of Upwork by 226.5% in the fourth quarter. Clearstead Advisors LLC now owns 4,590 shares of the company’s stock valued at $91,000 after buying an additional 3,184 shares in the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group reduced their price objective on Upwork from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Wednesday, August 12th. Royal Bank Of Canada cut their target price on Upwork from $9.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 11th. The Goldman Sachs Group set a $11.50 target price on Upwork in a report on Tuesday, August 11th. Weiss Ratings lowered Upwork from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, July 29th. Finally, Needham & Company LLC decreased their price target on Upwork from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Upwork has an average rating of “Hold” and an average target price of $13.05.

Insider Activity

In related news, CEO Hayden Brown sold 73,241 shares of the firm’s 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 sale, 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 SEC, which can be accessed 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 shares were sold at an average price of $8.43, for a total transaction of $192,574.92. Following the transaction, the chief financial officer directly owned 364,789 shares in the company, valued at $3,075,171.27. The trade was a 5.89% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 132,520 shares of company stock worth $1,108,000. Company insiders own 4.90% of the company’s stock.

Upwork Stock Performance

Shares of NASDAQ:UPWK opened at $8.70 on Tuesday. The firm has a 50 day simple moving average of $8.95 and a 200 day simple moving average of $9.74. Upwork Inc. has a 52 week low of $7.44 and a 52 week high of $22.84. The company has a market cap of $1.09 billion, a PE ratio of 11.30 and a beta of 1.01.

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

Upwork Company Profile

Upwork Inc operates a global online work marketplace that connects businesses with independent professionals and agencies. The platform supports a wide range of services, including software development, design and creative work, marketing, writing and translation, consulting, customer support, and administrative services.

Through its marketplace, Upwork enables businesses to find talent, post projects, manage engagements, collaborate remotely, and process payments. The company also offers solutions designed for larger organizations, including tools for sourcing, onboarding, managing, and paying independent professionals at scale.

Upwork was formed through the 2014 merger of Elance and oDesk and adopted the Upwork name in 2015.