Fiera Capital Corp Buys 338,002 Shares of Upwork Inc. $UPWK

Key Points

• Fiera Capital Corp increased its Upwork stake by 32.4% in the fourth quarter, buying 338,002 additional shares and bringing its total holding to 1,379,902 shares worth about $27.35 million.
• Several other institutional investors also boosted positions in Upwork, and institutions now own 77.71% of the company’s stock.
• Wall Street sentiment remains cautious: Upwork has a Hold consensus rating with a $15.50 average price target, while recent analyst actions included multiple rating downgrades and lower price targets.

Fiera Capital Corp grew its stake in shares of Upwork Inc. (NASDAQ:UPWK - Free Report) by 32.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,379,902 shares of the company's stock after buying an additional 338,002 shares during the period. Fiera Capital Corp owned approximately 1.06% of Upwork worth $27,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Accredited Wealth Management LLC lifted its holdings in shares of Upwork by 5,280.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,345 shares of the company's stock valued at $25,000 after purchasing an additional 1,320 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Upwork by 594.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,361 shares of the company's stock valued at $27,000 after purchasing an additional 1,165 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Upwork by 998.4% during the 3rd quarter. Clearstead Advisors LLC now owns 1,406 shares of the company's stock valued at $26,000 after purchasing an additional 1,278 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Upwork by 2,405.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,754 shares of the company's stock valued at $33,000 after purchasing an additional 1,684 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Upwork by 379.2% during 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 in the last quarter. Institutional investors own 77.71% of the company's stock.

Wall Street Analyst Weigh In

UPWK has been the topic of several recent analyst reports. Weiss Ratings cut Upwork from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, May 12th. Roth Mkm cut Upwork from a "buy" rating to a "neutral" rating and set a $10.00 price objective on the stock. in a report on Friday, May 8th. Needham & Company LLC cut their price objective on Upwork from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Scotiabank cut their price objective on Upwork from $15.00 to $10.00 and set a "sector perform" rating on the stock in a report on Friday, May 8th. Finally, Citizens Jmp lowered Upwork from an "outperform" rating to a "market perform" rating in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Upwork currently has a consensus rating of "Hold" and a consensus price target of $15.50.

Insider Activity at Upwork

In related news, CFO Erica Gessert sold 9,278 shares of Upwork 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 sale, the chief financial officer owned 307,240 shares of the company's stock, valued at approximately $3,782,124.40. This trade represents a 2.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dave Bottoms sold 7,000 shares of Upwork 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 sale, the insider directly owned 2,678 shares in the company, valued at approximately $30,770.22. This represents a 72.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 53,080 shares of company stock valued at $647,675. 4.90% of the stock is owned by insiders.

Upwork Stock Performance

Shares of Upwork stock opened at $8.86 on Tuesday. The business's 50 day simple moving average is $9.87 and its 200 day simple moving average is $14.78. Upwork Inc. has a 52-week low of $7.44 and a 52-week high of $22.84. The firm has a market cap of $1.09 billion, a PE ratio of 10.94 and a beta of 1.01.

Upwork declared that its board has authorized a stock buyback program on Wednesday, February 18th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 18% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Upwork 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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