Bank of New York Mellon Corp bought a new position in Upwork Inc. (NASDAQ:UPWK - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 736,397 shares of the company's stock, valued at approximately $6,156,000. Bank of New York Mellon Corp owned 0.60% of Upwork at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of UPWK. Price T Rowe Associates Inc. MD boosted its position in Upwork by 44.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,231,377 shares of the company's stock worth $381,166,000 after purchasing an additional 5,893,970 shares during the period. Boston Partners raised its stake in shares of Upwork by 785.7% in the 3rd quarter. Boston Partners now owns 2,322,575 shares of the company's stock valued at $42,962,000 after purchasing an additional 2,060,356 shares in the last quarter. Summit Partners Public Asset Management LLC bought a new position in Upwork during the 4th quarter worth approximately $40,136,000. Rice Hall James & Associates LLC bought a new position in Upwork during the first quarter worth $14,338,000. Finally, Capital International Investors raised its stake in Upwork by 37.7% during the fourth quarter. Capital International Investors now owns 3,288,860 shares of the company's stock worth $65,185,000 after acquiring an additional 900,318 shares during the period. 77.71% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on UPWK shares. UBS Group cut their target price on Upwork from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Friday, August 14th. Canaccord Genuity Group reduced their price objective on Upwork from $10.00 to $9.00 and set a "hold" rating for the company in a research note on Wednesday, August 12th. Needham & Company LLC reduced their price objective on shares of Upwork from $15.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Citizens Jmp lowered Upwork from an "outperform" rating to a "market perform" rating in a research report on Friday, May 8th. Finally, Royal Bank Of Canada cut their target price on shares of Upwork from $9.00 to $8.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $13.05.
Read Our Latest Stock Report on Upwork
Insiders Place Their Bets
In related news, CFO Erica Gessert sold 22,844 shares of Upwork stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.43, for a total transaction of $192,574.92. Following the completion of the transaction, the chief financial officer owned 364,789 shares in the company, valued at approximately $3,075,171.27. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 that occurred on Tuesday, August 18th. The stock was sold at an average price of $8.43, for a total value of $617,421.63. Following the transaction, the chief executive officer directly owned 771,076 shares in the company, valued at $6,500,170.68. The trade was a 8.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 132,520 shares of company stock valued at $1,108,000. 4.90% of the stock is owned by insiders.
Upwork Stock Performance
UPWK opened at $8.79 on Friday. The company has a fifty day moving average price of $8.99 and a two-hundred day moving average price of $9.95. The firm has a market capitalization of $1.10 billion, a PE ratio of 11.42 and a beta of 1.01. Upwork Inc. has a 52 week low of $7.44 and a 52 week high of $22.84.
Upwork (NASDAQ:UPWK - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The company had revenue of $191.66 million during the quarter. Upwork had a net margin of 12.94% and a return on equity of 16.70%. Upwork's quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm earned $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.
About Upwork
(
Free Report)
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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