Pacer Advisors Inc. Purchases 716,650 Shares of Upwork Inc. $UPWK

Pacer Advisors Inc. raised its position in Upwork Inc. (NASDAQ:UPWK) by 7,074.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 726,780 shares of the company’s stock after purchasing an additional 716,650 shares during the quarter. Pacer Advisors Inc. owned 0.59% of Upwork worth $7,966,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in shares of Upwork by 594.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,361 shares of the company’s stock worth $27,000 after buying an additional 1,165 shares during the period. Rockefeller Capital Management L.P. raised its position in Upwork by 434.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,881 shares of the company’s stock valued at $37,000 after buying an additional 1,529 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Upwork in the 4th quarter valued at approximately $42,000. EverSource Wealth Advisors LLC boosted its position in Upwork by 19,361.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,503 shares of the company’s stock worth $47,000 after acquiring an additional 3,485 shares during the last quarter. Finally, Strs Ohio acquired a new position in Upwork during the 4th quarter worth approximately $50,000. 77.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

UPWK has been the subject of several research reports. Needham & Company LLC decreased their price target on shares of Upwork from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Weiss Ratings cut shares of Upwork from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, July 29th. Royal Bank Of Canada decreased their target price on shares of Upwork from $20.00 to $9.00 and set a “sector perform” rating for the company in a research report on Monday, May 11th. UBS Group lowered shares of Upwork from a “buy” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $10.00 in a research note on Friday, May 8th. Finally, Scotiabank reduced their price objective on shares of Upwork from $15.00 to $10.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.50.

Upwork Trading Down 0.9%

NASDAQ UPWK opened at $9.59 on Thursday. The company has a market cap of $1.18 billion, a PE ratio of 11.84 and a beta of 0.99. Upwork Inc. has a 12 month low of $7.44 and a 12 month high of $22.84. The stock has a 50 day moving average of $8.82 and a 200-day moving average of $11.42.

Insider Buying and Selling at Upwork

In other Upwork news, CFO Erica Gessert sold 9,169 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $8.15, for a total value of $74,727.35. Following the completion of the sale, the chief financial officer owned 341,609 shares in the company, valued at $2,784,113.35. This trade represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Hayden Brown sold 23,468 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $8.15, for a total transaction of $191,264.20. Following the transaction, the chief executive officer owned 797,495 shares in the company, valued at $6,499,584.25. This represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 34,471 shares of company stock worth $281,446 over the last ninety days. Insiders own 4.90% of the company’s stock.

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.