168,627 Shares in Upwork Inc. $UPWK Acquired by Burney Co.

Key Points

• Burney Co. bought 168,627 shares of Upwork (NASDAQ:UPWK) in Q4, a new stake valued at about $3.34 million (roughly 0.13% of the company).
• Upwork's board approved a $300 million share buyback program that allows repurchases of up to 18% of outstanding stock, signaling management believes the shares may be undervalued.
• Analysts hold a consensus of “Moderate Buy” with an average price target of $22.60, versus the recent share price near $10.66 and a market cap of about $1.39 billion.

Burney Co. purchased a new position in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 168,627 shares of the company's stock, valued at approximately $3,342,000. Burney Co. owned about 0.13% of Upwork at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Raymond James Financial Inc. grew its position in Upwork by 4.0% during the 3rd 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 last quarter. Straightline Group LLC grew its position in Upwork by 3.1% during the 3rd quarter. Straightline Group LLC now owns 38,302 shares of the company's stock worth $711,000 after acquiring an additional 1,159 shares during the last quarter. Clearstead Advisors LLC grew its position in Upwork by 998.4% during the 3rd quarter. Clearstead Advisors LLC now owns 1,406 shares of the company's stock worth $26,000 after acquiring an additional 1,278 shares during the last quarter. Lazard Asset Management LLC grew its position in Upwork by 3.0% during the 3rd quarter. Lazard Asset Management LLC now owns 45,381 shares of the company's stock worth $843,000 after acquiring an additional 1,303 shares during the last quarter. Finally, Accredited Wealth Management LLC grew its position in Upwork by 5,280.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,345 shares of the company's stock worth $25,000 after acquiring an additional 1,320 shares during the last quarter. 77.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UPWK has been the topic of several recent research reports. Roth Mkm raised their price target on Upwork from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Tuesday, February 10th. Canaccord Genuity Group set a $22.00 price target on Upwork in a research report on Tuesday, February 10th. Wall Street Zen upgraded Upwork from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Zacks Research lowered Upwork from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 2nd. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $27.00 price objective on shares of Upwork in a research report on Tuesday, February 10th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.60.

Upwork Stock Performance

Shares of UPWK stock opened at $10.66 on Monday. The firm has a market cap of $1.39 billion, a P/E ratio of 12.69 and a beta of 1.18. Upwork Inc. has a fifty-two week low of $10.27 and a fifty-two week high of $22.84. The business's 50 day moving average price is $13.03 and its 200-day moving average price is $16.84.

Upwork declared that its board has approved a share buyback plan on Wednesday, February 18th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to buy up to 18% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Upwork

In other news, CFO Erica Gessert sold 9,278 shares of the firm'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 $114,212.18. Following the completion of the transaction, the chief financial officer owned 307,240 shares in the company, valued at $3,782,124.40. This trade represents a 2.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dave Bottoms sold 7,000 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $11.49, for a total value of $80,430.00. Following the completion of the transaction, the insider owned 2,678 shares of the company's stock, valued at approximately $30,770.22. The trade was a 72.33% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 235,186 shares of company stock worth $3,156,199. 7.60% of the stock is currently owned by 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.

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