Upwork (NASDAQ:UPWK) CFO Erica Gessert Sells 9,278 Shares

Upwork Inc. (NASDAQ:UPWK) CFO Erica Gessert sold 9,278 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 transaction of $114,212.18. Following the completion of the sale, the chief financial officer directly owned 307,240 shares in the company, valued at approximately $3,782,124.40. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, February 18th, Erica Gessert sold 26,292 shares of Upwork stock. The stock was sold at an average price of $13.80, for a total value of $362,829.60.

Upwork Trading Down 0.7%

Shares of NASDAQ:UPWK opened at $11.27 on Friday. Upwork Inc. has a 12-month low of $11.09 and a 12-month high of $22.84. The company has a market capitalization of $1.47 billion, a PE ratio of 13.42 and a beta of 1.07. The business has a 50 day moving average of $15.88 and a two-hundred day moving average of $17.52.

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

Analyst Ratings Changes

UPWK has been the topic of several analyst reports. Canaccord Genuity Group set a $22.00 price target on shares of Upwork in a research report on Tuesday, February 10th. Zacks Research downgraded shares of Upwork from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Upwork in a research note on Wednesday, January 21st. Jefferies Financial Group raised their target price on Upwork from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Finally, UBS Group cut their price target on Upwork from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Seven investment 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 stock currently has an average rating of “Moderate Buy” and an average price target of $22.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of UPWK. Price T Rowe Associates Inc. MD boosted its holdings in Upwork by 44.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,231,377 shares of the company’s stock worth $381,166,000 after buying an additional 5,893,970 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Upwork by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 14,989,217 shares of the company’s stock valued at $297,086,000 after acquiring an additional 322,455 shares during the last quarter. LSV Asset Management raised its holdings in shares of Upwork by 0.4% during the fourth quarter. LSV Asset Management now owns 6,537,275 shares of the company’s stock valued at $129,569,000 after acquiring an additional 23,900 shares during the last quarter. Ancient Art L.P. lifted its position in shares of Upwork by 8.7% in the fourth quarter. Ancient Art L.P. now owns 4,640,814 shares of the company’s stock valued at $91,981,000 after acquiring an additional 372,147 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Upwork by 19.2% in the fourth quarter. Invesco Ltd. now owns 3,585,846 shares of the company’s stock valued at $71,071,000 after acquiring an additional 576,512 shares in the last quarter. 77.71% of the stock is owned by hedge funds and other institutional investors.

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.