Upwork (NASDAQ:UPWK) CAO Sabrina Mekhalfa Sells 1,299 Shares of Stock

Upwork Inc. (NASDAQ:UPWK) CAO Sabrina Mekhalfa sold 1,299 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $8.45, for a total transaction of $10,976.55. Following the completion of the transaction, the chief accounting officer directly owned 6,675 shares of the company’s stock, valued at approximately $56,403.75. This trade represents a 16.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Upwork Stock Performance

UPWK stock traded down $0.02 during midday trading on Tuesday, reaching $8.35. 3,115,523 shares of the company’s stock traded hands, compared to its average volume of 3,699,119. The company has a 50-day moving average price of $8.92 and a two-hundred day moving average price of $9.57. Upwork Inc. has a 52 week low of $7.44 and a 52 week high of $22.84. The firm has a market capitalization of $1.04 billion, a PE ratio of 10.84 and a beta of 1.01.

Upwork (NASDAQ:UPWK) last posted its earnings results on Monday, August 10th. The company reported $0.41 earnings per share (EPS) 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 return on equity of 16.70% and a net margin of 12.94%.The company’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company 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.

Institutional Trading of Upwork

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ancient Art L.P. lifted its position in shares of Upwork by 8.7% in the 4th quarter. Ancient Art L.P. now owns 4,640,814 shares of the company’s stock worth $91,981,000 after purchasing an additional 372,147 shares during the period. Capital International Investors boosted its position in shares of Upwork by 37.7% in the 4th quarter. Capital International Investors now owns 3,288,860 shares of the company’s stock worth $65,185,000 after purchasing an additional 900,318 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Upwork by 26.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,715,616 shares of the company’s stock worth $40,720,000 after acquiring an additional 779,506 shares during the last quarter. Summit Partners Public Asset Management LLC purchased a new stake in Upwork during the 4th quarter valued at about $40,136,000. Finally, Fiera Capital Corp grew its holdings in shares of Upwork by 32.4% during the fourth quarter. Fiera Capital Corp now owns 1,379,902 shares of the company’s stock valued at $27,350,000 after buying an additional 338,002 shares during the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on UPWK shares. Needham & Company LLC reduced their target price on Upwork from $15.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Canaccord Genuity Group cut their price target on shares of Upwork from $10.00 to $9.00 and set a “hold” rating for the company in a report on Wednesday, August 12th. Scotiabank dropped their price target on Upwork from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 11th. UBS Group cut their target price on shares of Upwork from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Finally, Weiss Ratings lowered Upwork from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.05.

About Upwork

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.