Janus Henderson Group PLC Sells 389,330 Shares of Upwork Inc. $UPWK

Janus Henderson Group PLC reduced its holdings in shares of Upwork Inc. (NASDAQ:UPWK) by 86.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,070 shares of the company’s stock after selling 389,330 shares during the quarter. Janus Henderson Group PLC’s holdings in Upwork were worth $647,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in shares of Upwork by 594.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,361 shares of the company’s stock valued at $27,000 after buying an additional 1,165 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Upwork by 434.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,881 shares of the company’s stock worth $37,000 after acquiring an additional 1,529 shares during the period. International Assets Investment Management LLC purchased a new stake in Upwork in the 4th quarter worth about $42,000. EverSource Wealth Advisors LLC increased its holdings in Upwork by 19,361.1% in the 2nd 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 last quarter. Finally, Strs Ohio bought a new stake in Upwork in the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Royal Bank Of Canada dropped their price target on shares of Upwork from $20.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Monday, May 11th. Canaccord Genuity Group cut shares of Upwork from a “buy” rating to a “hold” rating and lowered their target price for the company from $22.00 to $10.00 in a report on Friday, May 8th. Citigroup dropped their target price on Upwork from $17.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 21st. UBS Group lowered Upwork from a “buy” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $10.00 in a report on Friday, May 8th. Finally, Needham & Company LLC reduced their price target on Upwork from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Three research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.50.

Upwork Trading Up 1.7%

NASDAQ UPWK opened at $9.83 on Tuesday. Upwork Inc. has a 1-year low of $7.44 and a 1-year high of $22.84. The stock has a 50-day moving average of $8.87 and a 200-day moving average of $11.21. The firm has a market cap of $1.21 billion, a PE ratio of 12.14 and a beta of 0.99.

Trending Headlines about Upwork

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Q2 earnings exceeded expectations: Upwork reported adjusted earnings of $0.41 per share, above the $0.34 analyst consensus and up from $0.35 in the year-ago quarter. The company also reported a 13.81% net margin and 17.92% return on equity. Upwork Reports Second Quarter 2026 Financial Results
• Positive Sentiment: AI marketplace integration could support long-term growth: Upwork launched an MCP server that connects its marketplace directly with AI tools such as Claude, ChatGPT and Cursor. Clients can use AI agents to post jobs, identify freelancers and manage proposals, while freelancers can receive tailored opportunities. The service is available at no additional cost and could increase platform engagement. Upwork Talent Is Now Everywhere AI Works
• Neutral Sentiment: Revenue trends remain soft: Quarterly revenue declined 1.7% year over year, indicating that profitability improvements have not yet translated into renewed top-line growth. Upwork Q2 Earnings Snapshot
• Negative Sentiment: 2026 guidance was below analyst expectations: Upwork forecast third-quarter earnings of $0.31–$0.33 per share and revenue of $176–$184 million, below consensus estimates of $0.41 and $193.8 million. Full-year EPS guidance of $1.38–$1.43 and revenue guidance of $730–$750 million also trailed estimates of $1.52 and $776 million. This outlook suggests near-term growth and demand may be weaker than investors expected.

Insider Activity

In other Upwork news, CFO Erica Gessert sold 9,169 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $8.15, for a total value of $74,727.35. Following the completion of the sale, the chief financial officer owned 341,609 shares in the company, valued at approximately $2,784,113.35. This trade represents a 2.61% decrease in their position. The transaction was disclosed in a filing 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, CEO Hayden Brown sold 23,468 shares of Upwork stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $8.15, for a total value of $191,264.20. Following the sale, the chief executive officer owned 797,495 shares in the company, valued at $6,499,584.25. This represents a 2.86% 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. Insiders sold 34,471 shares of company stock worth $281,446 over the last three months. 4.90% of the stock is owned by insiders.

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.