King Luther Capital Management Corp Has $5.87 Million Position in Upwork Inc. $UPWK

King Luther Capital Management Corp lifted its holdings in Upwork Inc. (NASDAQ:UPWK) by 19.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 316,077 shares of the company’s stock after buying an additional 51,288 shares during the quarter. King Luther Capital Management Corp’s holdings in Upwork were worth $5,870,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of UPWK. LSV Asset Management boosted its holdings in shares of Upwork by 22.1% in the second quarter. LSV Asset Management now owns 6,534,575 shares of the company’s stock valued at $87,825,000 after buying an additional 1,183,169 shares during the period. Allianz Asset Management GmbH lifted its position in Upwork by 93.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,862,153 shares of the company’s stock valued at $34,580,000 after acquiring an additional 900,525 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Upwork in the 2nd quarter worth $11,955,000. Millennium Management LLC increased its holdings in Upwork by 364.0% during the 1st quarter. Millennium Management LLC now owns 789,638 shares of the company’s stock worth $10,305,000 after purchasing an additional 619,459 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of Upwork in the 2nd quarter valued at about $5,118,000. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Erica Gessert sold 26,292 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $13.80, for a total value of $362,829.60. Following the sale, the chief financial officer owned 298,386 shares in the company, valued at approximately $4,117,726.80. This represents a 8.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dave Bottoms sold 17,013 shares of Upwork stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $13.80, for a total transaction of $234,779.40. Following the transaction, the insider directly owned 15,994 shares of the company’s stock, valued at approximately $220,717.20. This trade represents a 51.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 585,204 shares of company stock valued at $10,429,236 over the last 90 days. 7.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on UPWK shares. BTIG Research reaffirmed a “neutral” rating on shares of Upwork in a research report on Wednesday, November 19th. Roth Mkm upped their price target on Upwork from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Upwork in a report on Wednesday, January 21st. Wall Street Zen cut shares of Upwork from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Royal Bank Of Canada decreased their target price on shares of Upwork from $24.00 to $20.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 10th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.60.

Trending Headlines about Upwork

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Board authorizes a $300 million share repurchase (up to ~18% of shares outstanding), a signal management believes shares may be undervalued and a driver of buyback-driven support for the stock. GlobeNewswire
• Neutral Sentiment: Media coverage flagged that the repurchase announcement initially pushed the stock higher on Feb. 18 — showing the immediate positive market reaction, though sustainability depends on execution and broader sentiment. Investing.com
• Neutral Sentiment: Additional coverage noted the same buyback-driven lift in shares on Feb. 18, reinforcing the initial market response. Benzinga
• Negative Sentiment: CEO Hayden Brown sold 123,152 shares on Feb. 18 at an average price ~$13.80 (~$1.7M total); her ownership dropped ~13.7% per the SEC filing — an event investors often view as a negative signal. SEC Filing
• Negative Sentiment: CFO Erica Gessert sold 26,292 shares on Feb. 18 at an average price ~$13.80 (roughly $362,830), reducing her position ~8.1% — another insider sale from the C-suite. SEC Filing
• Negative Sentiment: Director/insider Dave Bottoms executed multiple sales (Feb. 18–19), including blocks at ~$13.51–$13.80 that materially reduced his holdings (one filing shows a ~97.8% drop in one tranche), adding to selling pressure. SEC Filings

Upwork Price Performance

Shares of UPWK opened at $13.32 on Friday. The company has a market cap of $1.74 billion, a PE ratio of 15.86 and a beta of 1.06. The firm has a 50-day moving average of $19.21 and a 200-day moving average of $17.71. Upwork Inc. has a one year low of $11.13 and a one year high of $22.84.

Upwork declared that its Board of Directors has approved a share buyback plan on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 18% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Upwork Profile

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.