Baillie Gifford & Co. Has $20.43 Million Stock Holdings in Upwork Inc. $UPWK

Key Points

• Baillie Gifford trimmed its Upwork position by 12.5% in Q4, selling 147,509 shares and holding 1,030,754 shares worth $20.43 million (about 0.79% of the company) after the sale.
• Insiders have been net sellers recently — including Dave Bottoms (7,000 shares) and CFO Erica Gessert (9,278 shares) — with insiders selling 235,186 shares valued at roughly $3.16 million over the last three months.
• Upwork's board approved a $300 million share repurchase program (up to ~18% of shares), while analysts are mixed-to-positive with an average "Moderate Buy" rating and a $22.60 target versus the current ~ $11 stock price and $1.43 billion market cap.

Baillie Gifford & Co. decreased its stake in Upwork Inc. (NASDAQ:UPWK - Free Report) by 12.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,030,754 shares of the company's stock after selling 147,509 shares during the period. Baillie Gifford & Co. owned 0.79% of Upwork worth $20,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in UPWK. Accredited Wealth Management LLC increased its stake in shares of Upwork by 5,280.0% in the third quarter. Accredited Wealth Management LLC now owns 1,345 shares of the company's stock valued at $25,000 after buying an additional 1,320 shares during the period. Clearstead Advisors LLC increased its stake in shares of Upwork by 998.4% in the third quarter. Clearstead Advisors LLC now owns 1,406 shares of the company's stock valued at $26,000 after buying an additional 1,278 shares during the period. Fifth Third Bancorp increased its stake in shares of Upwork by 2,405.7% in the third quarter. Fifth Third Bancorp now owns 1,754 shares of the company's stock valued at $33,000 after buying an additional 1,684 shares during the period. GAMMA Investing LLC lifted its stake in shares of Upwork by 379.2% in the 4th quarter. GAMMA Investing LLC now owns 1,840 shares of the company's stock valued at $36,000 after purchasing an additional 1,456 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Upwork by 19,361.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,503 shares of the company's stock valued at $47,000 after purchasing an additional 3,485 shares during the period. Institutional investors and hedge funds own 77.71% of the company's stock.

Insider Activity at Upwork

In related news, insider Dave Bottoms sold 7,000 shares of the business's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $11.49, for a total value of $80,430.00. Following the completion of the sale, the insider directly owned 2,678 shares of the company's stock, valued at $30,770.22. The trade was a 72.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Erica Gessert sold 9,278 shares of the business's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $12.31, for a total value of $114,212.18. Following the completion of the sale, the chief financial officer directly owned 307,240 shares of the company's stock, valued at $3,782,124.40. The trade was a 2.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 235,186 shares of company stock valued at $3,156,199 in the last three months. Corporate insiders own 7.60% of the company's stock.

Wall Street Analysts Forecast Growth

UPWK has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price objective on Upwork from $22.00 to $27.00 and gave the company a "buy" rating in a research note on Monday, January 5th. Roth Mkm boosted their price objective on Upwork from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, February 10th. Weiss Ratings reissued a "hold (c+)" rating on shares of Upwork in a research note on Wednesday, January 21st. Scotiabank dropped their price objective on Upwork from $17.00 to $15.00 and set a "sector perform" rating on the stock in a research note on Tuesday, February 10th. Finally, UBS Group dropped their price objective on Upwork from $26.00 to $23.00 and set a "buy" rating on the stock in a research note on Tuesday, February 10th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $22.60.

Upwork Price Performance

Shares of NASDAQ:UPWK opened at $11.00 on Tuesday. Upwork Inc. has a 1 year low of $10.27 and a 1 year high of $22.84. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 13.09 and a beta of 1.18. The business's 50-day moving average is $12.85 and its 200-day moving average is $16.78.

Upwork announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 18th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 18% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

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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