Upwork (NASDAQ:UPWK) CEO Hayden Brown Sells 23,893 Shares

Upwork Inc. (NASDAQ:UPWK) CEO Hayden Brown sold 23,893 shares of Upwork stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $8.45, for a total transaction of $201,895.85. Following the sale, the chief executive officer owned 793,593 shares in the company, valued at approximately $6,705,860.85. The trade was a 2.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Hayden Brown also recently made the following trade(s):

• On Tuesday, August 18th, Hayden Brown sold 73,241 shares of Upwork stock. The stock was sold at an average price of $8.43, for a total value of $617,421.63.

Upwork Price Performance

Shares of Upwork stock traded down $0.02 during trading hours on Tuesday, reaching $8.35. The company’s stock had a trading volume of 3,115,523 shares, compared to its average volume of 3,699,119. The firm has a 50 day moving average price of $8.92 and a 200-day moving average price of $9.57. The stock has a market cap of $1.04 billion, a P/E ratio of 10.84 and a beta of 1.01. Upwork Inc. has a one year low of $7.44 and a one year high of $22.84.

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

Analyst Upgrades and Downgrades

UPWK has been the topic of a number of recent analyst reports. Needham & Company LLC reduced their target price on Upwork from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Royal Bank Of Canada cut their price target on shares of Upwork from $9.00 to $8.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 11th. Canaccord Genuity Group reduced their price target on shares of Upwork from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Wednesday, August 12th. The Goldman Sachs Group set a $11.50 price target on shares of Upwork in a research note on Tuesday, August 11th. Finally, Weiss Ratings lowered shares of Upwork from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Upwork presently has a consensus rating of “Hold” and an average price target of $13.05.

Hedge Funds Weigh In On Upwork

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming acquired a new position in shares of Upwork during the second quarter worth $1,965,000. Summit Partners Public Asset Management LLC acquired a new stake in Upwork during the 4th quarter worth about $40,136,000. OneDigital Investment Advisors LLC acquired a new stake in Upwork during the second quarter worth about $4,151,000. Landscape Capital Management L.L.C. purchased a new stake in Upwork in the 2nd quarter worth approximately $2,158,000. Finally, Empowered Funds LLC acquired a new stake in shares of Upwork during the 2nd quarter worth approximately $2,051,000. 77.71% of the stock is currently owned by institutional investors.

Upwork Company Profile

Upwork Inc operates a global online work marketplace that connects businesses with independent professionals and agencies. The platform supports a wide range of services, including software development, design and creative work, marketing, writing and translation, consulting, customer support, and administrative services.

Through its marketplace, Upwork enables businesses to find talent, post projects, manage engagements, collaborate remotely, and process payments. The company also offers solutions designed for larger organizations, including tools for sourcing, onboarding, managing, and paying independent professionals at scale.

Upwork was formed through the 2014 merger of Elance and oDesk and adopted the Upwork name in 2015.