218,317 Shares in Upwork Inc. $UPWK Bought by Freestone Grove Partners LP

Freestone Grove Partners LP bought a new position in shares of Upwork Inc. (NASDAQ:UPWK) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 218,317 shares of the company’s stock, valued at approximately $1,825,000. Freestone Grove Partners LP owned 0.17% of Upwork at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Handelsbanken Fonder AB increased its stake in shares of Upwork by 2.2% in the fourth quarter. Handelsbanken Fonder AB now owns 32,200 shares of the company’s stock valued at $638,000 after buying an additional 700 shares during the period. Straightline Group LLC lifted its stake in shares of 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 acquiring an additional 920 shares during the period. Raymond James Financial Inc. lifted its stake in shares of 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 acquiring an additional 928 shares during the period. Maridea Wealth Management LLC lifted its stake in shares of Upwork by 11.0% in the first quarter. Maridea Wealth Management LLC now owns 11,621 shares of the company’s stock worth $127,000 after acquiring an additional 1,152 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Upwork by 594.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,361 shares of the company’s stock valued at $27,000 after acquiring an additional 1,165 shares during the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on UPWK shares. The Goldman Sachs Group set a $11.50 target price on shares of Upwork in a research report on Tuesday, August 11th. Wall Street Zen downgraded shares of Upwork from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Scotiabank reduced their price objective on shares of Upwork from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 11th. UBS Group decreased their price objective on shares of Upwork from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Finally, Needham & Company LLC lowered their target price on shares of Upwork from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.05.

Upwork Price Performance

NASDAQ UPWK opened at $9.02 on Friday. The business has a 50 day simple moving average of $8.89 and a 200 day simple moving average of $10.16. Upwork Inc. has a one year low of $7.44 and a one year high of $22.84. The stock has a market capitalization of $1.13 billion, a P/E ratio of 11.71 and a beta of 0.99.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results 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 firm had revenue of $191.66 million for the quarter. Upwork had a return on equity of 16.70% and a net margin of 12.94%.Upwork’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. Upwork has set its FY 2026 guidance at 1.380-1.430 EPS and its Q3 2026 guidance at 0.310-0.330 EPS.

Insider Buying and Selling at Upwork

In related news, CFO Erica Gessert sold 22,844 shares of the stock in a transaction 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 transaction, the chief financial officer directly owned 364,789 shares of the company’s stock, valued at $3,075,171.27. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Hayden Brown sold 73,241 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $8.43, for a total transaction of $617,421.63. Following the completion of the sale, the chief executive officer owned 771,076 shares of the company’s stock, valued at $6,500,170.68. The trade was a 8.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 132,520 shares of company stock valued at $1,108,000 in the last quarter. 4.90% of the stock is currently owned by company insiders.

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.