Landscape Capital Management L.L.C. Invests $2.16 Million in Upwork Inc. $UPWK

Key Points

• Landscape Capital Management purchased 258,172 Upwork shares worth approximately $2.16 million, representing about 0.21% of the company. Institutional investors collectively own 77.71% of Upwork.
• Analyst sentiment remains cautious: Upwork has an overall “Hold” rating, with 9 Holds, 3 Buys and 1 Sell, while the consensus price target is $13.05 after several analysts lowered their targets.
• Upwork reported quarterly EPS of $0.41, beating estimates of $0.34, on revenue of $191.66 million; however, revenue declined 1.7% year over year. Shares opened at $8.61, near the lower end of their 52-week range.

Landscape Capital Management L.L.C. purchased a new position in Upwork Inc. (NASDAQ:UPWK - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 258,172 shares of the company's stock, valued at approximately $2,158,000. Landscape Capital Management L.L.C. owned approximately 0.21% of Upwork as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings 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 last quarter. Rice Hall James & Associates LLC acquired a new position in shares of Upwork in the 2nd quarter valued at approximately $23,214,000. Boston Partners boosted its stake in shares of Upwork by 785.7% during the 3rd quarter. Boston Partners now owns 2,322,575 shares of the company's stock valued at $42,962,000 after buying an additional 2,060,356 shares during the last quarter. Summit Partners Public Asset Management LLC purchased a new position in shares of Upwork during the 4th quarter valued at approximately $40,136,000. Finally, Capital International Investors grew its position in shares of 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 buying an additional 900,318 shares in the last quarter. Hedge funds and other institutional investors own 77.71% of the company's stock.

Insider Activity at Upwork

In other news, CEO Hayden Brown sold 73,241 shares of the 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 $617,421.63. Following the sale, the chief executive officer directly owned 771,076 shares in the company, valued at approximately $6,500,170.68. This represents a 8.67% decrease in their position. The sale 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, CFO Erica Gessert sold 22,844 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 $192,574.92. Following the completion of the sale, the chief financial officer directly owned 364,789 shares in the company, valued at approximately $3,075,171.27. This trade represents a 5.89% 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. Insiders have sold 132,520 shares of company stock valued at $1,108,000 over the last ninety days. Corporate insiders own 4.90% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Needham & Company LLC dropped their price target 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. Wall Street Zen downgraded shares of Upwork from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Canaccord Genuity Group decreased their price objective on shares of Upwork from $10.00 to $9.00 and set a "hold" rating for the company in a report on Wednesday, August 12th. Scotiabank dropped their target price on shares of Upwork from $10.00 to $8.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 11th. Finally, Citizens Jmp lowered shares of Upwork from an "outperform" rating to a "market perform" rating in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $13.05.

Upwork Stock Down 0.6%

Shares of NASDAQ:UPWK opened at $8.61 on Friday. Upwork Inc. has a fifty-two week low of $7.44 and a fifty-two week high of $22.84. The firm has a 50-day simple moving average of $8.83 and a 200 day simple moving average of $10.50. The company has a market cap of $1.08 billion, a PE ratio of 11.18 and a beta of 0.99.

Upwork (NASDAQ:UPWK - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Upwork had a net margin of 12.94% and a return on equity of 16.70%. The firm had revenue of $191.66 million for the quarter. During the same quarter last year, the company earned $0.35 EPS. Upwork's 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.

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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