Freestone Grove Partners LP Acquires Shares of 218,317 Upwork Inc. $UPWK

Freestone Grove Partners LP acquired a new stake in shares of Upwork Inc. (NASDAQ:UPWK) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 218,317 shares of the company’s stock, valued at approximately $1,825,000.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position 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 valued at $381,166,000 after purchasing an additional 5,893,970 shares during the period. Vanguard Group Inc. raised its holdings in Upwork by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 14,989,217 shares of the company’s stock worth $297,086,000 after buying an additional 322,455 shares during the last quarter. LSV Asset Management raised its holdings in Upwork by 0.4% during the fourth quarter. LSV Asset Management now owns 6,537,275 shares of the company’s stock worth $129,569,000 after buying an additional 23,900 shares during the last quarter. Ancient Art L.P. lifted its stake 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 buying an additional 372,147 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Upwork by 26.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,715,616 shares of the company’s stock valued at $40,720,000 after buying an additional 779,506 shares in the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

Upwork Trading Up 1.1%

Shares of UPWK opened at $9.02 on Friday. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 11.71 and a beta of 0.99. The stock has a 50 day moving average of $8.89 and a 200 day moving average of $10.16. Upwork Inc. has a 12 month low of $7.44 and a 12 month high of $22.84.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. The business 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%.The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 EPS. Upwork has set its FY 2026 guidance at 1.380-1.430 EPS and its Q3 2026 guidance at 0.310-0.330 EPS.

Analysts Set New Price Targets

UPWK has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of Upwork from $17.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 21st. UBS Group lowered their target price on shares of Upwork from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Citizens Jmp cut shares of Upwork from an “outperform” rating to a “market perform” rating in a research report on Friday, May 8th. The Goldman Sachs Group set a $11.50 price target on Upwork in a research note on Tuesday, August 11th. Finally, Wall Street Zen lowered Upwork from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Upwork has an average rating of “Hold” and a consensus price target of $13.05.

Insiders Place Their Bets

In other news, CFO Erica Gessert sold 22,844 shares of Upwork stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $8.43, for a total transaction of $192,574.92. Following the sale, the chief financial officer directly owned 364,789 shares in the company, valued at $3,075,171.27. The trade was a 5.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 771,076 shares in the company, valued at $6,500,170.68. This trade represents 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 have sold a total of 132,520 shares of company stock worth $1,108,000 over the last quarter. Company insiders own 4.90% of the company’s stock.

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.