Erica Gessert Sells 22,844 Shares of Upwork (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 22,844 shares of Upwork stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.43, for a total transaction of $192,574.92. Following the completion of the sale, the chief financial officer owned 364,789 shares of the company’s stock, valued at $3,075,171.27. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Erica Gessert also recently made the following trade(s):

• On Thursday, June 18th, Erica Gessert sold 9,169 shares of Upwork stock. The stock was sold at an average price of $8.15, for a total transaction of $74,727.35.

Upwork Stock Down 0.6%

Shares of UPWK opened at $8.61 on Friday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 11.18 and a beta of 0.99. The company’s fifty day moving average is $8.83 and its 200-day moving average is $10.50. Upwork Inc. has a 12 month low of $7.44 and a 12 month high of $22.84.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Monday, August 10th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $191.66 million during the quarter. Upwork had a net margin of 12.94% and a return on equity of 16.70%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS. Upwork has set its FY 2026 guidance at 1.380-1.430 EPS and its Q3 2026 guidance at 0.310-0.330 EPS.

Hedge Funds Weigh In On Upwork

Large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted 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 purchasing an additional 1,165 shares during the period. Rockefeller Capital Management L.P. increased its holdings 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 purchasing an additional 1,529 shares during the period. GAMMA Investing LLC raised its position in shares of Upwork by 43.7% during the second quarter. GAMMA Investing LLC now owns 4,575 shares of the company’s stock valued at $38,000 after buying an additional 1,392 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Upwork during the fourth quarter valued at about $42,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Upwork by 19,361.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,503 shares of the company’s stock valued at $47,000 after buying an additional 3,485 shares during the period. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citizens Jmp downgraded Upwork from an “outperform” rating to a “market perform” rating in a research note on Friday, May 8th. Roth Capital downgraded Upwork from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a research note on Friday, May 8th. Royal Bank Of Canada reduced their target price on Upwork from $9.00 to $8.00 and set a “sector perform” rating for the company in a report on Tuesday, August 11th. Weiss Ratings cut Upwork from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, July 29th. Finally, Canaccord Genuity Group lowered their price target on Upwork from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.05.

Upwork Company 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.