Deutsche Bank AG Purchases New Position in Upwork Inc. $UPWK

Key Points

• Deutsche Bank acquired 142,419 Upwork shares worth approximately $1.19 million, giving it a 0.12% stake. Institutional investors collectively own 77.71% of the company.
• Analyst sentiment remains cautious, with nine Hold ratings, three Buys and one Sell; the consensus price target is $13.05, while several firms recently lowered targets to about $9–$11.50.
• Upwork exceeded quarterly EPS expectations with $0.41 versus a $0.34 consensus estimate, but revenue fell 1.7% year over year to $191.66 million. The stock opened at $9.02, near its 52-week low of $7.44 and well below its high of $22.84.

Deutsche Bank AG acquired a new stake in Upwork Inc. (NASDAQ:UPWK - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 142,419 shares of the company's stock, valued at approximately $1,191,000. Deutsche Bank AG owned 0.12% of Upwork at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of Upwork by 594.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,361 shares of the company's stock valued at $27,000 after buying an additional 1,165 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Upwork by 434.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,881 shares of the company's stock worth $37,000 after acquiring an additional 1,529 shares during the period. GAMMA Investing LLC boosted its holdings in Upwork by 43.7% in the 2nd quarter. GAMMA Investing LLC now owns 4,575 shares of the company's stock worth $38,000 after acquiring an additional 1,392 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Upwork during the fourth quarter valued at approximately $42,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Upwork by 19,361.1% during the second 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. Hedge funds and other institutional investors own 77.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citizens Jmp downgraded shares of Upwork from an "outperform" rating to a "market perform" rating in a research note on Friday, May 8th. The Goldman Sachs Group set a $11.50 price target on Upwork in a research note on Tuesday, August 11th. Canaccord Genuity Group reduced their price target on Upwork from $10.00 to $9.00 and set a "hold" rating for the company in a report on Wednesday, August 12th. UBS Group lowered their price objective on Upwork from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, August 14th. Finally, Citigroup dropped their price objective on Upwork from $17.00 to $10.00 and set a "neutral" rating on the stock in a report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $13.05.

Insider Buying and Selling

In other news, CFO Erica Gessert sold 22,844 shares of the company'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 transaction of $192,574.92. Following the completion of the transaction, the chief financial officer directly owned 364,789 shares of the company's stock, valued at approximately $3,075,171.27. This represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 firm'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 completion of the sale, the chief executive officer directly owned 771,076 shares in the company, valued at approximately $6,500,170.68. This trade represents a 8.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 132,520 shares of company stock valued at $1,108,000. 4.90% of the stock is currently owned by insiders.

Upwork Price Performance

UPWK stock opened at $9.02 on Monday. Upwork Inc. has a 1-year low of $7.44 and a 1-year high of $22.84. The firm has a fifty day moving average price of $8.89 and a two-hundred day moving average price of $10.10. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 11.71 and a beta of 0.99.

Upwork (NASDAQ:UPWK - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. Upwork had a net margin of 12.94% and a return on equity of 16.70%. The company had revenue of $191.66 million for the quarter. During the same quarter in the previous year, the business posted $0.35 earnings per share. The company's quarterly revenue was down 1.7% compared to the same quarter last year. Upwork has set its FY 2026 guidance at 1.380-1.430 EPS and its Q3 2026 guidance at 0.310-0.330 EPS.

Upwork Company Profile

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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