Upwork (NASDAQ:UPWK) CAO Sabrina Mekhalfa Sells 1,482 Shares of Stock

Upwork Inc. (NASDAQ:UPWK) CAO Sabrina Mekhalfa sold 1,482 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $12.31, for a total value of $18,243.42. Following the completion of the sale, the chief accounting officer directly owned 2,095 shares in the company, valued at $25,789.45. This trade represents a 41.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Upwork Stock Down 0.7%

NASDAQ:UPWK opened at $11.27 on Friday. Upwork Inc. has a 52-week low of $11.09 and a 52-week high of $22.84. The stock has a fifty day simple moving average of $15.88 and a 200-day simple moving average of $17.52. The company has a market capitalization of $1.47 billion, a PE ratio of 13.42 and a beta of 1.07.

Upwork announced that its Board of Directors has approved a share buyback plan on Wednesday, February 18th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows 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 management believes its shares are undervalued.

Upwork News Summary

Here are the key news stories impacting Upwork this week:

• Negative Sentiment: CEO Hayden Brown sold 23,745 shares at an average of $12.31 (~$292K), a 2.9% reduction in her stake — a notable insider sale from the company’s top executive. CEO Hayden Brown SEC Filing
• Negative Sentiment: CFO Erica Gessert sold 9,278 shares at ~$12.31 (~$114K), reducing her position by ~2.9% — another senior officer sale. CFO Erica Gessert SEC Filing
• Negative Sentiment: CAO Sabrina Mekhalfa sold 1,482 shares at ~$12.31 (~$18K), cutting her stake by ~41%. CAO Sabrina Mekhalfa SEC Filing
• Negative Sentiment: Director/insider Dave Bottoms reported two recent sales (11,575 shares at $12.31 and 7,000 shares at $11.49), significantly reducing his holdings. Multiple insider dispositions amplify the perception of insider-led selling. Dave Bottoms SEC Filings
• Negative Sentiment: Media and analyst coverage is bearish: headlines report shares “plummet” and note analysts are resetting valuations and expectations for Upwork, which can pressure sentiment and trigger further selling. Reddit and Upwork Shares Plummet, What You Need To Know
• Negative Sentiment: Analysis piece discusses a shifting Upwork story as analysts cut forecasts and valuations — a catalyst for downgrades and lower price targets. Why The Upwork (UPWK) Story Is Shifting

Institutional Investors Weigh In On Upwork

Several hedge funds have recently made changes to their positions in the business. Accredited Wealth Management LLC increased its stake in Upwork by 5,280.0% in the third quarter. Accredited Wealth Management LLC now owns 1,345 shares of the company’s stock valued at $25,000 after purchasing an additional 1,320 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in 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 during the period. Clearstead Advisors LLC increased its stake in shares of Upwork by 998.4% during the 3rd quarter. Clearstead Advisors LLC now owns 1,406 shares of the company’s stock valued at $26,000 after acquiring an additional 1,278 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Upwork by 2,405.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,754 shares of the company’s stock worth $33,000 after acquiring an additional 1,684 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Upwork by 379.2% during the 4th quarter. GAMMA Investing LLC now owns 1,840 shares of the company’s stock worth $36,000 after acquiring an additional 1,456 shares during the period. Institutional investors and hedge funds own 77.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on UPWK shares. Wall Street Zen raised shares of Upwork from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Jefferies Financial Group raised their price objective on shares of Upwork from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Scotiabank lowered their target price on Upwork from $17.00 to $15.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 10th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of Upwork in a report on Tuesday, February 10th. Finally, Zacks Research lowered Upwork from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.60.

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.