Insider Selling: Upwork (NASDAQ:UPWK) CAO Sells 1,482 Shares of Stock

Upwork Inc. (NASDAQ:UPWK) CAO Sabrina Mekhalfa sold 1,482 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $12.31, for a total value of $18,243.42. Following the transaction, the chief accounting officer owned 2,095 shares of the company’s stock, valued at approximately $25,789.45. This represents a 41.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Upwork Trading Down 0.7%

UPWK traded down $0.08 during trading hours on Friday, hitting $11.27. The company’s stock had a trading volume of 5,362,986 shares, compared to its average volume of 3,341,876. Upwork Inc. has a fifty-two week low of $11.09 and a fifty-two week high of $22.84. The firm has a market capitalization of $1.47 billion, a PE ratio of 13.51 and a beta of 1.07. The company has a 50-day simple moving average of $15.88 and a 200 day simple moving average of $17.52.

Upwork declared that its board has initiated a stock buyback program on Wednesday, February 18th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 18% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on UPWK shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Upwork in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Upwork from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Citigroup reduced their price target on shares of Upwork from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, February 10th. Royal Bank Of Canada decreased their price objective on shares of Upwork from $24.00 to $20.00 and set a “sector perform” rating for the company in a report on Tuesday, February 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of Upwork in a research note on Tuesday, February 10th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.60.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Handelsbanken Fonder AB lifted its holdings in Upwork by 2.2% in the 4th quarter. Handelsbanken Fonder AB now owns 32,200 shares of the company’s stock valued at $638,000 after acquiring an additional 700 shares during the last quarter. Straightline Group LLC grew its stake in shares of Upwork by 2.4% in the 4th quarter. Straightline Group LLC now owns 39,222 shares of the company’s stock worth $777,000 after purchasing an additional 920 shares during the last quarter. Raymond James Financial Inc. grew its stake in shares of Upwork by 4.0% in the 3rd quarter. Raymond James Financial Inc. now owns 24,004 shares of the company’s stock worth $446,000 after purchasing an additional 928 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Upwork by 594.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,361 shares of the company’s stock worth $27,000 after purchasing an additional 1,165 shares in the last quarter. Finally, Clearstead Advisors LLC lifted its stake in Upwork by 998.4% during the third quarter. Clearstead Advisors LLC now owns 1,406 shares of the company’s stock valued at $26,000 after purchasing an additional 1,278 shares during the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

Upwork News Roundup

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

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.