Dave Bottoms Sells 15,649 Shares of Upwork (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 15,649 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $13.51, for a total value of $211,417.99. Following the transaction, the insider directly owned 345 shares in the company, valued at approximately $4,660.95. This represents a 97.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Dave Bottoms also recently made the following trade(s):

• On Wednesday, February 18th, Dave Bottoms sold 17,013 shares of Upwork stock. The stock was sold at an average price of $13.80, for a total value of $234,779.40.
• On Friday, December 19th, Dave Bottoms sold 9,622 shares of Upwork stock. The shares were sold at an average price of $20.66, for a total value of $198,790.52.
• On Thursday, December 18th, Dave Bottoms sold 11,285 shares of Upwork stock. The stock was sold at an average price of $20.59, for a total value of $232,358.15.

Upwork Trading Down 1.1%

Shares of UPWK opened at $13.17 on Friday. The firm has a fifty day moving average price of $19.03 and a 200-day moving average price of $17.72. The firm has a market capitalization of $1.72 billion, a P/E ratio of 15.68 and a beta of 1.06. Upwork Inc. has a 12-month low of $11.13 and a 12-month high of $22.84.

Upwork announced that its board has initiated a stock repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 18% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Handelsbanken Fonder AB raised its position in shares of Upwork by 2.2% in the 4th quarter. Handelsbanken Fonder AB now owns 32,200 shares of the company’s stock worth $638,000 after acquiring an additional 700 shares in the last quarter. Straightline Group LLC raised its holdings in Upwork by 2.4% in the fourth quarter. Straightline Group LLC now owns 39,222 shares of the company’s stock worth $777,000 after purchasing an additional 920 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Upwork by 4.0% in the third quarter. Raymond James Financial Inc. now owns 24,004 shares of the company’s stock worth $446,000 after purchasing an additional 928 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of Upwork by 0.4% during the second quarter. King Luther Capital Management Corp now owns 264,789 shares of the company’s stock valued at $3,559,000 after buying an additional 987 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Upwork by 594.4% in the 4th 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 in the last quarter. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on UPWK shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Upwork in a research note on Wednesday, January 21st. Wall Street Zen raised Upwork from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group dropped their price target on Upwork from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. BTIG Research restated a “neutral” rating on shares of Upwork in a research note on Wednesday, November 19th. Finally, Zacks Research downgraded Upwork from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.60.

Trending Headlines about Upwork

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Board authorizes a flexible $300 million buyback (authorizes repurchases of roughly 18% of shares), a meaningful capital‑return action that can reduce float and support EPS and investor sentiment. Globe and Mail: Buyback Announcement
• Positive Sentiment: Market reaction was initially positive — coverage notes shares rose on the buyback news, showing short‑term demand lift from the announcement. Investing.com: Market Reaction
• Neutral Sentiment: Analyst / institutional context is mixed: consensus is a modest “moderate buy” with an average target (~$22.60) well above the current price, and institutions own ~78% of the stock — the buyback may prompt revisions but not unanimous upgrades. MarketBeat: Analyst & Ownership Context
• Negative Sentiment: Significant insider selling this week: CEO Hayden Brown sold 123,152 shares (~$1.7M at ~$13.80); CFO Erica Gessert and other insiders (Dave Bottoms) also reduced positions — large insider disposals can be interpreted negatively by investors. SEC filings for the CEO sale are here and the InsiderTrades writeup for other insider sales is here. CEO SEC Filing InsiderTrades: Insider Sales
• Negative Sentiment: Technicals/liquidity are unfavorable near term: shares remain well below the 50‑day moving average and today’s volume is light versus average, increasing downside volatility risk despite the buyback. MarketBeat: Technicals

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.