State of Wyoming acquired a new stake in Upwork Inc. (NASDAQ:UPWK – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 235,043 shares of the company’s stock, valued at approximately $1,965,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its stake in shares of Upwork by 594.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,361 shares of the company’s stock valued at $27,000 after acquiring an additional 1,165 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in Upwork by 434.4% in the fourth 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 bought a new position in Upwork in the fourth quarter worth approximately $42,000. Strs Ohio purchased a new position in Upwork during the 4th quarter worth $50,000. Finally, Mcguire Capital Advisors Inc. purchased a new position in Upwork during the 4th quarter worth $66,000. 77.71% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
UPWK has been the subject of several research reports. The Goldman Sachs Group set a $11.50 target price on Upwork in a report on Tuesday. Royal Bank Of Canada cut their price target on Upwork from $9.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings downgraded Upwork from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, July 29th. Canaccord Genuity Group decreased their price objective on Upwork from $10.00 to $9.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Needham & Company LLC lowered their price objective on shares of Upwork from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday. 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 company. Based on data from MarketBeat, Upwork presently has a consensus rating of “Hold” and an average price target of $13.05.
Insider Transactions at Upwork
In other news, CFO Erica Gessert sold 9,169 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $8.15, for a total value of $74,727.35. Following the transaction, the chief financial officer directly owned 341,609 shares of the company’s stock, valued at approximately $2,784,113.35. This represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $8.15, for a total value of $191,264.20. Following the completion of the transaction, the chief executive officer directly 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. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 34,471 shares of company stock valued at $281,446. 4.90% of the stock is currently owned by insiders.
Upwork Trading Down 2.1%
NASDAQ UPWK opened at $8.48 on Friday. Upwork Inc. has a 12-month low of $7.44 and a 12-month high of $22.84. The company has a fifty day simple moving average of $8.85 and a two-hundred day simple moving average of $10.93. The stock has a market cap of $1.06 billion, a P/E ratio of 11.01 and a beta of 0.99.
Upwork (NASDAQ:UPWK – Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Upwork had a net margin of 12.94% and a return on equity of 16.70%. The firm had revenue of $191.66 million for the quarter. During the same period last year, the firm earned $0.35 earnings per share. Upwork’s quarterly revenue was down 1.7% compared to the same quarter last year. Upwork has set its FY 2026 guidance at 1.380-1.430 EPS and its Q3 2026 guidance at 0.310-0.330 EPS.
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.
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