Upwork (NASDAQ:UPWK) CAO Sabrina Mekhalfa Sells 1,482 Shares

Key Points

• CAO Sabrina Mekhalfa sold 1,482 shares at an average price of $12.31 on March 18 (about $18,243), cutting her stake by 41.4% to 2,095 shares, and the sale adds to several recent insider dispositions by the CEO, CFO and a director.
• Upwork's board approved a $300 million share repurchase program in February, authorizing buybacks of up to 18% of outstanding shares—a sign management views the stock as undervalued.
• Shares traded near $11.27 (1‑year range $11.09–$22.84) with a $1.47B market cap; analysts have a consensus "Moderate Buy" and a target of $22.60, while institutional investors own roughly 77.7% of the stock.

Upwork Inc. (NASDAQ:UPWK - Get Free Report) CAO Sabrina Mekhalfa sold 1,482 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $12.31, for a total transaction of $18,243.42. Following the transaction, the chief accounting officer directly owned 2,095 shares in the company, valued at $25,789.45. The trade was a 41.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Upwork Price Performance

NASDAQ:UPWK traded down $0.08 during mid-day trading on Friday, reaching $11.27. The stock had a trading volume of 5,362,986 shares, compared to its average volume of 3,341,876. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 13.51 and a beta of 1.07. Upwork Inc. has a 1-year low of $11.09 and a 1-year high of $22.84. The stock's 50 day simple moving average is $15.88 and its two-hundred day simple moving average is $17.52.

Upwork declared that its board has approved a share repurchase program on Wednesday, February 18th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to buy up to 18% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Upwork

Several large investors have recently added to or reduced their stakes in UPWK. Royal Bank of Canada grew its position in shares of Upwork by 68.9% during the first quarter. Royal Bank of Canada now owns 191,587 shares of the company's stock worth $2,501,000 after acquiring an additional 78,123 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Upwork by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,466 shares of the company's stock valued at $972,000 after purchasing an additional 3,599 shares during the last quarter. Millennium Management LLC boosted its stake in Upwork by 364.0% during the 1st quarter. Millennium Management LLC now owns 789,638 shares of the company's stock valued at $10,305,000 after purchasing an additional 619,459 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Upwork by 10.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 338,680 shares of the company's stock valued at $4,420,000 after purchasing an additional 31,378 shares during the period. Finally, Creative Planning grew its position in Upwork by 16.9% in the 2nd quarter. Creative Planning now owns 29,239 shares of the company's stock worth $393,000 after purchasing an additional 4,230 shares during the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Upwork

Here are the key news stories impacting Upwork this week:

• Negative Sentiment: CEO Hayden Brown sold 23,745 shares at an average of $12.31 (~$292K), a 2.9% reduction in her stake — a notable insider sale from the company’s top executive. CEO Hayden Brown SEC Filing
• Negative Sentiment: CFO Erica Gessert sold 9,278 shares at ~$12.31 (~$114K), reducing her position by ~2.9% — another senior officer sale. CFO Erica Gessert SEC Filing
• Negative Sentiment: CAO Sabrina Mekhalfa sold 1,482 shares at ~$12.31 (~$18K), cutting her stake by ~41%. CAO Sabrina Mekhalfa SEC Filing
• Negative Sentiment: Director/insider Dave Bottoms reported two recent sales (11,575 shares at $12.31 and 7,000 shares at $11.49), significantly reducing his holdings. Multiple insider dispositions amplify the perception of insider-led selling. Dave Bottoms SEC Filings
• Negative Sentiment: Media and analyst coverage is bearish: headlines report shares “plummet” and note analysts are resetting valuations and expectations for Upwork, which can pressure sentiment and trigger further selling. Reddit and Upwork Shares Plummet, What You Need To Know
• Negative Sentiment: Analysis piece discusses a shifting Upwork story as analysts cut forecasts and valuations — a catalyst for downgrades and lower price targets. Why The Upwork (UPWK) Story Is Shifting

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Canaccord Genuity Group set a $22.00 price objective on Upwork in a research note on Tuesday, February 10th. Jefferies Financial Group boosted their target price on shares of Upwork from $22.00 to $27.00 and gave the company a "buy" rating in a research note on Monday, January 5th. Scotiabank reduced their price target on shares of Upwork from $17.00 to $15.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 10th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Upwork in a report on Wednesday, January 21st. Finally, Citigroup lowered their price objective on shares of Upwork from $19.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, February 10th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.60.

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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